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Subsidiary bankruptcy


"Walter, you are absolutely incorrect. Your avid support for Sirius is getting in the way of business facts."

LMAO. You mean your anger that XM was taken over by Sirius is making you try to seem like in some strange way XM was a better business? If it was it wouldn't have been taken over by Sirius. It was around longer, and still Sirius made better business decisions, had more grow far faster and in the end took over the lesser of the two. Can't change history. Successful companies are not taken over by other companies unless they are weaker. Xm was the weaker business model.


"Fact of the matter is, Sirius needed this merger. Experts agree that XM was ahead in technology, superior in music programming and would have been profitable faster than Sirius."


Of course Sirius did, they needed the subscriber base to strengthen what they already had going for them. As for your "experts", no one except pissed off former XM subs or folks who never had the service but simply follow everyone else said the music was better. Music taste is subjective. Personally, I found XM unlistenable. But that doesn't mean it was bad, just not my taste. XM had better technology, but that it moot now as it's Sirius' company, and technology never made for success. Tools don't build houses, carpenters do. Sirius built a better company in a shorter time. Sirius gobbled up the weaker company. As for debt, XM had 5 times the debt of Sirius and now Sirius has to get rid of XM's skunk-like debt.

"While XM did perhaps overpay for some content, the truth of the matter is that Mel fired XM programmers that interacted with their audience and presented intelligent music programming clearly different than the FM overconsulted version of said formats."

Sirius fired redundant staff, eliminated most all of XM's programming. That's what happens when you are taken over. You usually end up as a memory. XM programming is a memory. Not good or bad, just part of how business works. As a Sirius subscribers, I love teh choices Sirius offers. Just as you thought the programmers of XM 'talked' to their audience.

"X Country, Fred, Lucy, Beyond Jazz, XM Cafe, Soul Street, XMU, XM Chill, The Move, UPop, the Decades channels. All pleasing XM subscribers and all quality programming that turned controversial when the playlists were trimmed and inferior Sirius replacements were simulcast on the XM platform."

XM lost about 12k subscribers because of the merge. In the last quarter Sirius gained about 450k subs. I guess the programming of XM wasn't so good, nor better. Sirius is still growing despite your hatred of it.

"Your brilliant programming minds at Sirius are under the impression that Coldplay belongs on a "downtempo electronica" channel, that James Brown only recorded 5 songs at most, and that Mojo Nixon has to drop the F bomb every break on a "progressive country" channel."

Very simple solution. If you hate Sirius, get rid of it. Why anyone would want a service they hate is beyond me. Here's the reality XM is just two initials at the end of Sirius' name. And will be eliminated eventually. XM is gone. If you don't like Sirius get rid of it. Americans have an entitlement problem. They think $15 a month entitles them to exclusive ownership. It's a big reason why this country is on the brink of disaster. Many Americans needs a good wallop in the ass. Hope this works.

"Walter, this was a HOSTILE takeover and Mel got his revenge by gutting an excellent product. And you wish to sit and applaud that?"

I guess as your first sentence shows, you know little about how business works so you last statement doesn't stray. . A company doesn't take over a weaker company and say, hey lets drop our successful plan for theirs. A company takes over a company and has a fire sale, looking at what works from the weaker of the two and what doesn't, then incorporating what hey want into the more successful entity. Most of XM didn't work for Sirius. No grudges, just good business sense. No loss. Sirius is nearly 20 million strong and growing. And now analysts are starting to see the potential and saying 'buy' Sirius stock. Hey, I can think of some great TV shows I loved that got canceled over the years that really pissed me off. How could they get rid of such great shows? While I thought the world of them, I was in the minority. XM was the minority when you look at the two services. Sad, but true. So if Sirius isn't living up to your expectations, GET RID OF IT!! It's not going to get any better for you.
 
Walter:

The XM guy supporting this deal is gone - he cashed out. Mel wanted it. If it was a "merger" then XM was not "taken over by Sirius"

You fail at that point and it's core to this whole debate.

XM was either "taken over" by Sirius or it was a merger. Mergers aren't supposed to be takeovers. Yet when Mel came in, he cleaned house at XM despite having superior programmers and promising in his propaganda that the services would run mostly separate programming for a long time to come.

Your boy's a liar.

And what about all those unsold cars that Sirius counts for subs? More of Mel's honesty?

"If you hate Sirius get rid of it" - never claimed to have it. The reality is that this business deal SUCKED for the consumers and for the employees.

And you think paying for your Sirius subscription means you know the business, I suppose. And paying customers aren't the ones who are supposed to be handed "a wallop in the ass" when promised better from a slick talker in a suit trying to run a deal past the FCC and FTC.

If Obama had been in office prior to now, this merger would NOT have made it through. Your boy got in under the wire, Walter. Just because you get a little thrill out of "ass walloping" doesn't mean the rest of us don't know better about how to conduct our business as broadcasters.
 
Sorry you are such an angry person and let something that doesn't even affect you (you are one of these that doesn't even have Sirius yet are mad), bother you. Maybe you lost your job due to XM being taken over. Sorry to hear that. Radio is a tough business and most folks are looking for work outside of radio at this point. Call it what you want, but XM was taken over by Sirius. Officially it was called a acquisition. It's done, move on.
 
Walter, was it a merger or a takeover?

Did XM need Sirius to survive? No they didn't.

Do some research.
 
Matters little. XM is gone. Swallowed up by the better run business. XM had far to much debt to survive and Sirius needed the subs to make something viable against Terrestrial radio. It's all history now.

"November 13, 2007, Shareholders of Sirius Satellite Radio Inc. approved the company's $5 billion acquisition of rival XM Satellite Radio Holdings Inc. 96% of Sirius Satellite Radio shareholder's votes cast approved the acquisition."

As Jim Cramer said of XM when it was going to be acquired by Sirius, "I reiterate that if there is no deal, this company [XM] will have a hard time making it in its current form".

Move on! This subject is old and dead.
 
Walter with all due respect your beginning to sound like a broken record. As far as the rest of you, it's all one company now that the keys have changed hands! Game over! So they don't play only the music any one of us wants to hear. So what? Change the channel it's simple enough to do. Get an Ipod or whatever else floats your boat. The 12.99 I pay for my one subscription is for the convenience of having all the many different channels offered and the ability to hear most of it commerical free. If your young enough WiMax 3 G is coming and a whole new world of listening to your favorite internet station.
 
3G is no holy grail, do you realize how many areas I vacation and travel in that barely have basic speed data for anything beyond text email?

XM and Sirius have coverage. Internet radio has the programming.

And I don't know what new music I want on my IPod till someone plays it.

My position is that XM had great programming and great radios, and that great programming, both mainstream and niche was well on its way to profit. Those niches in many cases are destroyed or overconsulted. And it is one of the great tragedies of innovation that such a good product was so terribly screwed with.
 
Wasted away in Mergeritaville...

I didn't hear that on the Jimmy Buffet channel, though. ;)
 
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