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Sirius/XM Files for Bankruptcy
- Thread starter wgliradio
- Start date
Charlie Edgen has been millions in Siri stock, Mel owes Charlie $175 soon, or it's curtains for Mel and Echostar (dish) will end up owning Sirius/XM. Mel is just playing chicken with Charlie Edgen and trying screw Charlie over just like he has with his customer base.
Steve
www.xrqkfm.com
Steve
www.xrqkfm.com
Sirius/XM is working about as well as anything that uses an excessive amount of expensive overhead.
They are the equivalent of people driving in a rented Hummer that they never could afford to begin with.
Their days are numbered, and there isn't anyone who can afford to drive that Hummer anymore.
The rest of radio is driving Chevys and Toyotas, and XM/Sirius decides to build a giga-buck garage to park Howard Stern in!
Now they REALLY can't afford the Hummer. This is called being hopelessly out of touch with reality.
The terrestial radio model really is far more sustainable, despite the current bad times.
Glad I don't know how much of my 401k got flushed down that toilet, there must have been some.
With modern fund management, it's impossible to find a fund that doesn't have something in it which is morally or ethically objectionable,
or just a wacky, untenable idea like satellite radio.
They are the equivalent of people driving in a rented Hummer that they never could afford to begin with.
Their days are numbered, and there isn't anyone who can afford to drive that Hummer anymore.
The rest of radio is driving Chevys and Toyotas, and XM/Sirius decides to build a giga-buck garage to park Howard Stern in!
Now they REALLY can't afford the Hummer. This is called being hopelessly out of touch with reality.
The terrestial radio model really is far more sustainable, despite the current bad times.
Glad I don't know how much of my 401k got flushed down that toilet, there must have been some.
With modern fund management, it's impossible to find a fund that doesn't have something in it which is morally or ethically objectionable,
or just a wacky, untenable idea like satellite radio.
jo-nathan said:
Too late. The deal with Malone was done Friday. It will be announced next week. Malone will bridge loan $175 million and take over the rest of the debt for the year giving Sirius another two years to pay loans. Since they are nearly profitable now, that will not be difficult. Now all they have to do is find a buyer for the XM sat system (Echostar). And Sirius can continue doing what it does best.
W
Walking On
Guest
Walter Graff said:
Destroying Sat radio?
Sorry Walter, I just couldn't help it.
Don't be sorry. I understand. I equate sat radio to the still photography world. The two major players in still photography are Canon and Nikon. Ask a Canon affectionado about Nikon and they will tell you they hate it. Same is true for a Nikon person who can't imagine using Canon equipment. Both are good though when you look at reality minus emotion. So it's nothing but subjective taste. I have been with Sirius from day one. I had XM on my Directv and couldn't stand it. I couldn't imagine listening to it for more than a song or two as the selection was horrible to me and the stations unlistenable. What makes someone like a service isn't logic but personal tastes. Sirius just worked better for me. I don't condemn anyone who doesn't like it. You have every right to feel ripped off with the elimination of XM. I'll only say something if someone complains about a service over and over. If that is the case then they should get rid of it, Sirius or XM.
W
Walking On
Guest
Even though I ultimately preferred XM music programming over Sirius, My distaste with their former management approaches the distaste I have for Sirius management. It does take two to tango, and I can't help but feel that their dance sucked the potential from sat radio. You are right, Walter, it is about personal tastes, especially with music. And the potential that sat radio had was to be able to satisfy the vast majority of tastes. Now it seems success will only come if they are satisfying just enough. Oh well...
Quote: Now all they have to do is find a buyer for the XM sat system (Echostar). And Sirius can continue doing what it does best.
Does that mean Sirius will have competition again from another Sat Radio operator? I would hope that if EchoStar actually purchased the former XM, they would continue running the service for all us former XM subs (current SiriusXM subs) and re-establish the grand tradition of Sirius vs. whatever the new name of the competitor becomes (Dish Satellite Radio perhaps? ).
Does that mean Sirius will have competition again from another Sat Radio operator? I would hope that if EchoStar actually purchased the former XM, they would continue running the service for all us former XM subs (current SiriusXM subs) and re-establish the grand tradition of Sirius vs. whatever the new name of the competitor becomes (Dish Satellite Radio perhaps?
).
W
Walking On
Guest
Now why would Sirius do that (unless, of course, they were forced to do so by the FCC for not meeting the terms allowing the merger)? If why they "bought" XM was for the subs, then they wouldn't (couldn't afford to) sell off those same subs. If they do sell the XM equipment (which, because of it's technical superiorirty, is more likely) it will surely be used for some non-competetive use.
Walking On said:
Sat radio is a niche. It's not all, just as FM or AM was never all, although obviously FM became a money maker. 20 million listeners is a pretty good niche. Would they like more? Sure, but it's a damn good start. Will they be IT? Of course not, no one is.
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