Fresh off the approval of its merger, Sirius XM Radio is facing another big challenge: an extraordinarily large debt.
The combined satellite radio firm will have $1 billion in debt next year, BusinessWeek reported. This is is among the company’s woes, which also includes a tanking stock price and a faltering overall economy that has consumers skimping on extra accessories in their cars and elsewhere.
CEO Mel Karmazin told the magazine that the company will find a way to find necessary funding, and will avoid bankruptcy.
Thanks for the news flash…
No Shi*! This is OLD News! Who is writing this article. Someone reading old articles from weeks and weeks ago?
If anyone can pull this off, it’s Mel. Now is the time to buy lots of shares of Sirius. At 26 cents a share it’s a great bet!
How is someone paid to write this? This isn’t even close to being new news… Do you have ANYTHING better to do with your time?
i should be a journalist. i could find really old news and re-write it. it’s almost like being in college and writing a paper… copy, paste huh…
Just to clarify, the article we link to is two days old.
Wow, you guys are really on top of it. This is old news from July and nothing has changed from that point. Way to be on top of the timely reporting.
OH Yeah! He’d better! Millions of us are totally addicted to Sirius. He’s losing money on the talk shows, sports channels and Howard Stern. The music channels kick ass.
They aren’t losing money because of Stern. He’s the reason they pulled ahead in growth over XM and arguably the reason Sirius could approach XM to merger. Do the math, Stern has easily 5 million subscribers himself. Plus advertising, 100 million a year is a bargain. Mayny banks have endorsed Sirius/XM’s proposal for a new loan.
Sirius music channels are great however its basis in attracting new customers had become stagnated. I would agree that some talk could be eliminated however, the two things that I listen to are the Stern channels and NFL football. Stern alone has given Sirius it recognizability, other wise XM would most likely be the only company here today.
How can anyway say they are losing money on Howard Stern? Sirius’s statistics say that 70% of their subscribers listen to one of the two Howard Stern channels. Since Howard joined Sirius, they have added Millions of subscribers.