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Bankruptcy for XM/Sirius in '09?

M

makemeamatch

According to one of the trades--Mel Karmazin may not be able to meet his debtors and could see bankruptcy. Come February--$200 mil is owed--another $350 mil due by May and $400 mil in December. I'd highly discourage buying a "lifetime membership" in either service.
 
They may restructure but going dark? Yeah, right.
 
jo-nathan said:
They may restructure but going dark? Yeah, right.
Click to expand...

Bankruptcy has lots of noxious effects. The concern about lifetime subs is that, just like prepaid gym memberships when the clubs go bankrupt, prepaid subscribers could find themselves in the 'creditor' class: possibly less likely to recover either the service or money back.
 
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