Sirius XM Orbits Chapter 11

A

admin

Audioholics Robot
Staff member
Sirius XM Satellite radio has been working with advisers in preparation for a possible bankruptcy filing. The New York Times reported late yesterday afternoon that all the preparations for the ailing satellite radio company’s Chapter 11 filing is nearing completion. But don’t despair Sirius XM fans - there is speculation that Dish Network Chief Exec Charles Ergen might save the day.


Discuss "Sirius XM Orbits Chapter 11" here. Read the article.
 
Matt34

Matt34

Moderator
It would be nice if XM would send me my $75 they owe me when I canceled the service three months ago.:rolleyes:
 
Wayde Robson

Wayde Robson

Audioholics Anchorman
A few extra facts about Dish Network and Sirius XM

· Charles Ergen is Chief Exec of Dish Network from which set-top-box maker EchoStar recently spun off. It's not known which company holds Sirius XM debt, Echo or Dish.

· Ergen is a former professional gambler and is apparently known for chancy business deals and fierce independence. He'll be well suited to playing this new game in which he finds himself.

· It's about more than satellite radio for Ergan - acquisition of Sirius XM will help Dish Network compete against DirecTV.

· Dish Net has a technical interest in acquiring the satellite radio company due to the superior positioning of Sirius XM satellites than their own. DirecTV also has better positioned satellites than Dish. So, Ergan wants to hold his cards close as Bankruptcy ensues betting that the longer her waits the great the discount at which he'll be able to purchase all of Sirius XM assets.

· Dish Network bought portions of the wireless spectrum last year. It's speculated they could use it be provide mobile video. Could there be potential collaboration with satellite radio technologies?

· If the company files for bankruptcy, Ergan owns enough of the company that he will be at the table for possible control of Sirius XM. It might be in his best interest to let it go that far for as deep a discount as possible.

· If Sirius XM does file Chapter 11 (and even if Ergan does an 11th hour purchase) it may spell the end of some of its high powered contracts such as Howard Stern who costs the company $500 million for five years.
 
M

markw

Audioholic Overlord
I'm glad I took a "let's see how this works out" attitude about this stuff. I'd have to have to eat those hardware expenditures. We had Sirus in a few rental cars over the past few years and I was not impressed.

Well, I guess good ole "free" analog FM will be around a bit longer.
 
Rickster71

Rickster71

Audioholic Spartan
I didn't read the article yet.
Though, I'll bet this means they will want to go with commercials to help get back in the black.
Just a thought, don't know if it was mentioned in the story.
 
emorphien

emorphien

Audioholic General
I'm not surprised and I really wouldn't care if they were gone. Never been impressed with the quality of most of the stations on Sirius I'd want to listen to. XM seemed a bit better, but neither was worth the price.

Plus I prefer to listen to a local morning chat show and there's a local college radio station that plays pretty great music with next to 0 ads (basically brief self promotion a few times an hour) as well as an ad-free Jazz station and NPR classical. They cost me nothing.
 
gliz

gliz

Full Audioholic
I had xm for a while. did not really care for it, the sound quality was really bad. And it was just one more thing that I had to set parental controls up for so my kids could safely listen to it. I will not miss it
 
Alissa

Alissa

Enthusiast
Satellite Radio, I hardly knew ye...

I was just beginning to like Satellite Radio...at least I liked their free demos. :)
 
B

bootman

Audioholic Intern
If Sirius XM does file Chapter 11 (and even if Ergan does an 11th hour purchase) it may spell the end of some of its high powered contracts such as Howard Stern who costs the company $500 million for five years.
That 500M contract was very top heavy with stock options.
It isn't even worth 1/3 of that now with the stock price as low as it is.
But if the end game is to get rid of the "high price talent" that will only cost them heavily with sub loss.
 
N

nobama

Audiophyte
my three year contract runs out next june. hope it can survive till then.
 
Wayde Robson

Wayde Robson

Audioholics Anchorman
my three year contract runs out next june. hope it can survive till then.
Of course I have no great insight, but my thought is that it probably won't be allowed to die completely.

I've been half-interested in spending money on it for years. If I saw someone selling their hardware cheap I might consider buying it used.

I drive an hour commute each day sometimes more. I have an iPod hookup in my car stereo but the A/V Rant podcast only takes me so far down the week.

Since (Ergan and) Dish Network is involved I think might have been wrong a couple of years ago in that video blog... Satellite Radio could live on as a less profitable wing of Satellite TV, like a great fringe bennefit of using Dish over DirecTV.

Who knows... maybe DircTV will decide they need the same thing to compete and yet another satellite radio competitor comes into play, DirecRadio or something.

It would be sad to see Stern gone from Sirius, they seemed like a great match.
 
P

Paulie350

Audiophyte
howard stern is the only reason why i bought sirius in the first place. thats the only 2 channels worth listening to,
 
T

tonedeaf

Audioholic
I invested in sirius some 4 years ago.Paid a good buck for the stock.Howard stern and their selection of a ceo swayed me.At last look my stock was worth 17 cents.:eek::eek::eek::eek::eek::eek::eek::eek::eek:
 
N

nobama

Audiophyte
i signed up for XM for MLB. but since the yankees have sucked so badly and the steroids mess, i really dont even listen to the XM anymore.

and i hate the automatic renewals. i only need one radio. they uswed to auto-renew for my other 2. now i just have 2 and rarely listen to either. reception sux anyway.
 
mtrycrafts

mtrycrafts

Seriously, I have no life.
Wayde Robson;522900... · If Sirius XM does file Chapter 11 (and even if Ergan does an 11th hour purchase) it may spell the end of some of its high powered contracts such as Howard Stern who costs the company $500 million for five years.[/QUOTE said:
I was just going to comment about those stratospheric contracts, no wonder they are in deep doodoo.:eek:
 
Geno

Geno

Senior Audioholic
Too Bad -

Guess I came to the party a little late. I just got my new company car, and it has a free 1-yr subscription to XM Serius. I drive about 1000 miles a week, and was really enjoying several of the music stations (Loft, Deep tracks, Coffee House, etc)
 
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