Sirius XM is preparing to file for bankruptcy and it could happen within days, according to the New York Times. A bankruptcy would make Sirius XM one of the largest casualties of the economy. It would be the second-largest Chapter 11 filing so far this year.
The article speculates that the move might be designed to pressure Dish Network and EchoStar owner Charles Ergen into making an offer. According to the Wall Street Journal, he offered to purchase the satellite radio group last year, but was brushed off. Anyway, he apparently wants to try again.
[Engadget] and [NYT] and [WSJ]
TAGS:
bankruptcy, News, Sirius, XM
Doesn’t shock me. Anything you can get for “free”, you’d better have a compelling reason to get people to pay, and Serius/XM just didn’t have one.
I agrre with the poster Sleuth
Ever since XM merged with Sirius the programming has deteriorated. I pay for the subscription but wouldn’t shed a tear if it went belly up. Competition is a good thing and when the government agreed to this monopoly they basically started digging their grave.
I agree with Screen. Pandora offers the same or better service for free