Sirius XM Radio May File for Bankruptcy
I hate it when real life sticks its nose into my fantasy world, but here it is. I don't get XM out here but you guys back on Earth may lose your ability to listen to Hammy on XM in the very near future. Alas!
almost 3 years ago
mauichuck
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That would be bad news — my wife and I just paid for two years of service a few months ago. I don’t know much about bankruptcy laws, but I’d assume we wouldn’t get our money back, right? I’ve gotten so used to listening to the XM music channels in my car that I don’t want to go back to regular radio stations.
Also, how the heck does Howard Stern make $100 million a year?!?! No wonder they’re in financial trouble! People can complain about how much money CC is making, but he’s vastly underpaid when compared to Stern. At least CC has talent.
The best thing probably is to hit [Grady] 2nd -- Jay
Haha — of course!
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 15, 2009 9:07 PM EST up reply actions
Its not projected to interrupt service from everything I’ve read. The most likely scenario seems to be that EchoStar, who holds a vast sum of Sirius/XM debt, takes over the company within the next year. I hope it happens that way, because if I have to give up my XM I’ll be upset.
by Fundamentals on Feb 16, 2009 6:34 AM EST up reply actions
That’s good news. There has to be a large enough market for satellite radio that someone should be able to make money from it. They need to get rid of all the huge contracts they gave out; I have no idea what they were thinking when they gave Stern and all those people that much money. That’s ridiculous.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 16, 2009 11:28 AM EST up reply actions
I’ve been a Sirius owner for 3 years now. It doesn’t make sense to me how a company that has 20 million subscribers won’t remain a viable entity going forward.
Bankruptcy will allow them to restructure/eliminate some of their existing deals that don’t generate any revenue (Martha Stewart, Jamie Fox, etc etc) and maybe cut the salary of others that do (Oprah and Stern).
This is the answer. I wouldn’t want to be a stockholder in XM/Sirius, but when you have 20 million folks who are basically happy with their service… well, I struggle to believe it’s going away. Someone is going to buy them up or they’ll restructure in a way that is viable financially and those of us that just subscribe probably won’t see major changes. The stock will most likely get spread out, but I don’t think I’m going to lose the ability to listen to Hammy any time soon.
-Erik
From what I understand, this is really a power struggle between the current management and an investor that owns a lot of XM debt and is trying to take over. If the current management declares bankruptcy, suddenly the guy who owns the debt doesn’t have quite as much leverage.
Sorry, meant that as a reply to Chuck obviously.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 15, 2009 10:43 PM EST up reply actions
Ya gotta listen to Cross Canadian Ragweed do “Who Do You Love”, or Southern Culture on the Skids do “Voodoo Cadillace” live or Tom Snider do “Stuck on the Corner of Sanity and Madness”. It ain’t your grandfather’s C&W. Lot’s great stuff on that station.
On my list to check out tomorrow morning in traffic.
by NickFantana on Feb 15, 2009 11:20 PM EST up reply actions
but “grandfather country” (Hank, J Rodgers, etc.) is awesome!
by JulioBernazard on Feb 16, 2009 10:55 AM EST up reply actions
Make that your father’s country – like Dolly Parton, or Billy Rae Cyrus or any of those “hat” acts. I love old school C&W too.
Yeah, Johnny Paycheck – caught 22 months for shootin’ a dude in the head down near Gallopolis – just cuz the guy asked Johnny iffin’ he’d come over to his house for some deer meat and turtle soup. This was after Johnny’d made millions with his shove it song. Gotta love a guy who’s this self-destructive.
There’s a lot to be said for country music.
Most of it has to do with women, whiskey and an old dog named Blue.
Still the local "Barfield Bounces Back Believer" and confident that there's still a lot of Pronk in Hafner. Oh, and for all the love of Cliffy, there's still a Sleepy Kitten inside.
Redneck women
Burn on, big river, burn on...
by Turkmenbashi on Feb 16, 2009 10:36 AM EST up reply actions
Whatever, it’s an offhand comment. I was alluding to that Gretchen Wilson song. I have no beef with country.
Burn on, big river, burn on...
by Turkmenbashi on Feb 17, 2009 4:31 PM EST up reply actions
I really hope you’re kidding, Jay. I certainly didn’t mean that as a criticism, it’s just that Chuck doesn’t strike me as the type of guy who listens to country music. After all, he’s the one who’s always complaining about the “hillbillies” in Columbus.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 16, 2009 11:32 AM EST up reply actions
Dude, you don’t get it do ya? Hillbilly’s are my peeps for chrissake. That’s why I can spot ‘em from two counties away and unabashedly rip on ’em. I knows my hillbillys.
by mauichuck on Feb 16, 2009 2:22 PM EST up reply actions 1 recs
This is awesome
Burn on, big river, burn on...
by Turkmenbashi on Feb 16, 2009 5:07 PM EST up reply actions
No, I guess I don’t. You just don’t seem like the country music type, that’s all.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 16, 2009 8:56 PM EST up reply actions
i’ll back chuck here. x country is not your 13 year old girlfriend’s country. no pop-country here. x country mostly plays songs by wicked alt-country acts like drive-by truckers, southern culture on the skids, the jayhawks, fantastic bluegrass acts and lots of western swing. it’s really pretty awesome and no taylor swift in sight!
no, what is sad is your love for chelsea.
that’s like rooting for the red sox. (man u are the yankees, arsenal are the dodgers and liverpool are the mets)
go everton!
as in, they’re two different clubs
So 2009.
by Gradyforpresident on Feb 16, 2009 4:37 PM EST up reply actions
I should obviously stop trying to be helpful in conversations I’m neither part of nor know things about.
by Logodaedalus on Feb 16, 2009 4:42 PM EST up reply actions
Tim Cahill is balling lately
So 2009.
by Gradyforpresident on Feb 16, 2009 4:37 PM EST up reply actions
I’ve loved Elarton ever since he went nine innings in the second game of a double-header, after the bullpen got trashed in the first game.
July 4, 2005 complete game for me, game one of a doubleheader sweep against the Tigers. Had a 3.5 drive by myself, and it took up 3.
by Manhattan Tribe Fan on Feb 16, 2009 6:02 PM EST up reply actions
i am not sold on my EPL team yet. but barca might be my top european club, period. (the history!)
So 2009.
by Gradyforpresident on Feb 16, 2009 4:41 PM EST up reply actions
Soccer
lol
Burn on, big river, burn on...
by Turkmenbashi on Feb 16, 2009 5:08 PM EST up reply actions
I’ll have to correct you on that. Man U are the Yankees, City are the Red Sox, Liverpool are the Mets and Chelsea are the 90’s Indians. We’ve already quit buying hugely overpriced players and are back to selling and trying to live on a budget. Our biggest signing this transfer window was a loan pickup. (My family is from Chelsea, so I really have no choice in the matter anyway).
Everton is having quite a year though. I’d love to see them nick Arsenal for Europe. I wish we had a site where we could discuss this without the avalanche that is about to happen here.
Dodgers? Giants? are we going historical or current?
So 2009.
by Gradyforpresident on Feb 17, 2009 1:06 PM EST up reply actions
i was sad to find out that SBN doesn’t have any football sites
So 2009.
by Gradyforpresident on Feb 16, 2009 11:17 PM EST up reply actions
They actually have a Tottenham Hotspur blog now, and I’d imagine that they’d be looking to add more EPL teams soon.
There’s one called Global Football too, but it doesn’t get many comments so I’ve found myself not bothering to check after an inital period tring to get involved….LGT can spoil you in that respect.
by Luis (Tribe Fan in London) on Feb 17, 2009 10:42 AM EST up reply actions
I’ll only pipe in to say that Arsenal are not at all like the Dodgers. The club has money but refuses to spend it, putting a lot of faith in its youth system, maybe even too much; giving them playing time they don’t particularly deserve. No way would have given up an awesome youngster for an ageing veteran in the same way the Dodgers did last year.
by Luis (Tribe Fan in London) on Feb 17, 2009 10:44 AM EST up reply actions
I guess that’s the problem with trying to find a comparison, as alluded to above, we talking historically or current. Because right now we’re not exactly big 4 sadly. I’m also not sure it could be said we’ve been big spenders historically either…..maybe we’re more like the Braves. Try to bring through youth at times, but prone to one or two big signings every now and again. Although we do fill our stadium at least!
by Luis (Tribe Fan in London) on Feb 18, 2009 3:51 AM EST up reply actions
See, you guys have it all a little wrong. the English Premier League is like the National League. Italian’s Seire A is the superior American League.
by Ryan Kelsey on Feb 18, 2009 10:31 AM EST up reply actions
Well, I think there are three Seire A vs. Premier League matchups next week in the UEFA Champions League, so we’ll just see.
by Ryan Kelsey on Feb 18, 2009 12:32 PM EST up reply actions
I would say that last year fairly well answered the question. I don’t think you could find many serious analysts who would argue against the EPL being the best league in the world.
? than 2007 showed the opposite was true.
In my mind the World Cup in 06 answered the question pretty well- all the Italian players were from the Seire A, and that team, was, just awesome. Sure the big scandal and some retirements led to a lower quality last year, but I think Seire A has bounced back and I think Inter, Roma, Juve, and AC Milan will fair quite well in the next couple weeks vs. the EPL.
Also, I think you should say most serious ENGLISH SPEAKING analysts do not argue against the EPL being the best league in the world. But, a quick look at the results and the quality of play show that it is anything but clear.
by Ryan Kelsey on Feb 18, 2009 12:51 PM EST up reply actions
Haha I’m as Italian as they come, and even I’m giggling at this. The 2006 World Cup was the greatest thing ever, but using it to infer that Serie A is a superior league is just kinda silly.
by supermarioelia on Feb 18, 2009 4:38 PM EST up reply actions
I think you are overstating your case, but whatever. Milan has been as good as any club the last 5 years and Juve was great the 5 years before that and are back again now. Throw in this year’s resurgent Inter and really cool Roma team, and I think it matches very favorably against the top 4 in any other league, including the EPL.
The success of the Italian sides are my major rooting interest in soccer. Although, I don’t like the two Milan teams at all, I’ll be rooting for them in the Champions League.
i am so into this discussion
So 2009.
by Gradyforpresident on Feb 19, 2009 3:32 AM EST up reply actions
Just the last five years CL Semi Finals: (Winners in bold)
2008: Chelsea, Man U, Liverpool, Barcelona. Only one Serie A team even made the quarter finals.
2007: Chelsea, Man U, Liverpool, Milan.
2006: Arsenal, Milan, Villareal, Barcelona
2005: Chelsea, Liverpool, Milan, PSV
2004: Chelsea, Monaco, Porto, Deportivo
In conclusion:
Premiership: 10 appearances, two champions.
Serie A: 3 appearances, one champion.
That is not an overstatement, those are just the facts. Serie A may be able to lay claim to being the second best league in the world right now (though La Liga is surely right there) but there is no question that the EPL is the dominant force in football as things stand now. It also seems that I am doomed to cheer for teams that come so very close, but never win.
It’s hard to dispute what the EPL has done overall in the last 5 years. But, like I said, Milan has hung with the best during that time (the win in 07 to go along with a win in 03 and the 05 runner ups). And I just don’t know why you are limiting the conversation to the last 5 years. If you go last 10 years, or if you talk about this year (what I meant in my original post), it is not such a clear distinction. Heck, if you go to the 90’s, its really clearly Seire A that had the advantage (3 wins and 5 runner-ups to 1 win). And if you go all time, each league has 11 Champions League titles, but Seire A has 14 runner ups to the EPL’s 5.
Obviously, I’m quite biased. I got to see a Seire A game on my honeymoon back in September- it was pretty amazing. I also have followed the Italian national team since my Italian Scicilian family watched the 94 final at my house. And one of my few memories from visiting Italy in 1991 was buying a shirt comemorating Italy as the host nation a year earlier. When I went to college and became close friends with some European soccer fans, I started following Juventus and Lazio (playing a ton of FIFA 2001 on PlayStation)- and I still follow them as much as I can.
But, this is a new year, and it should be very interesting. Like I said the round of 16 features 3 Seire A-EPL matchups. I’m pretty pumped about it.
I went last five years to compare the best league right now. I’ll give you the 90’s and maybe even all time, but I just mean right now. Over the last five years, the EPL has been the best league in the world. This year may herald a change to that with Chelsea being in disarray and suffering a lot of injuries and Arsenal finally sucking in the way we all have always wished they would.
But yes, I can’t wait for the 25th.
Which why it will be interesting to see if how a poor Arsenal team fares against a pretty good Roma team. Everything points to Roma going through comfortably…but we shall see….like you guys are saying really looking forward to going to stadium on Tuesday for the match.
Oh…and yeah…Go Tribe!
by Luis (Tribe Fan in London) on Feb 20, 2009 3:53 AM EST up reply actions
Not the least bit sad.
Appreciation for country music is a good litmus test for separating real music lovers from mere culture snobs.
I was so worn down by the ubiquity of what now passes for country during my time in Kentucky that I can only beg of you forgiveness for my snobbery. Bluegrass and what not may be good, but I just can’t do it.
Ya gotta go to Texas – Joe Ely, Robert Earl Keene, The Texas Tornadoes, Tish Hinojosa, Jimmy Dale Gilmore (he played Smokey in The Big Lebowski), Ethyl and Methyl – plenty of other artists you’ll never hear in Nashville or Kentucky for that matter. Dude, you gotta get out more.
Then you need to hear Todd Snider’s “Beer Run.”
by JulioBernazard on Feb 18, 2009 7:35 AM EST up reply actions
All you need is ten and a fiver /
a car and a key and a sober driver
by JulioBernazard on Feb 18, 2009 9:07 AM EST up reply actions
I wish I could get into reggae, but it’s a real struggle for me.
by JulioBernazard on Feb 16, 2009 9:40 PM EST up reply actions
This actually should have read:
Agreed. I wish I could get into reggae, but it’s a real struggle for me.
by JulioBernazard on Feb 16, 2009 9:41 PM EST up reply actions
Well, looks like Sirius/XM survives for another year. Liberty came in and took 40% control and provided 530 million in capital. The stock almost tripled today on the news .. I’m sure some people made a nice profit off of that.
Meanwhile here in Washington it’s looking today like two of our domestic auto makers are well on their way to securing assistance, so that can’t hurt.
I mean that can’t hurt Sirius-XM’s immediate business outlook that their biggest clients are about to be protected. Doesn’t make me bullish on Sirius-XM by any means, but I bet this is what the folks over at Liberty have calculated.
The rest of my opinion is totally political.
I also have an opinion about making personal investments in media companies: I never have, never will.
I doubt a huge part of their revenues comes directly from domestic auto makers, but whatever.
The main thing is, when a point is both semi-off-topic and semi-political, it’s best left unposted here.
My bad, let the guard down there. I practiced the restraint to not weigh in on the Great-Lakes Water compact in the one thread, or to share stories about the time I worked as a fry cook at an Applebees in another.
There are times when I sorta kinda wanna dabble in the politics, though. I recall you admitting to the temptation of this once.
Face-to-face, I think I’m pretty good about eschewing politics relative to my DC peers. A Capital Hill staffer lived in my house for a time, and it was just non-stop. Fact is, though, I think I’d rather talk politics with you guys, even though that’s not the mission.
I will resume the policy of restraint like my man Calvin Coolidge.
I only admitted it once? I am down for a political scrap pretty much all day, every day — except when there’s money to be made or a great Indians forum to moderate.
love that coolidge story.
So 2009.
by Gradyforpresident on Feb 19, 2009 3:33 AM EST up reply actions
I’ve read many places that the decrease in new car sales really hurt XM Sirius because that is where they get a large chunk of their customers, so anything that gets people buying new cars again will certainly help them.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 17, 2009 8:18 PM EST up reply actions
That’s interesting, but it’s in evaluating whether this will get anyone buying new cars that the analysis becomes political.
So we’re all done here.
I wasn’t trying to evaluate any political issues, just mentioning that there is a correlation betwen new car sales and XM radio users. That’s all.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 17, 2009 9:25 PM EST up reply actions
Oh, I know. I was just letting you know my intent. I wasn’t trying to say whether or not something would help the auto industry, just that if it does then that would help XM Sirius get new customers.
The best thing probably is to hit [Grady] 2nd -- Jay
by Buckeye Brad on Feb 18, 2009 8:23 AM EST up reply actions
Actually Jay, the reason why XM got to be so big was because of their guaranteed contracts with GM and other automakers. The majority of their new subscribers came through people who bought cars.
They partnered with GM in Spring of 2004 and had 2.5 million customers. By the end of 2005, they had 6 million.
I’m sure some people made a nice profit off of that.
Congratulations, Howard.
by Manhattan Tribe Fan on Feb 17, 2009 11:27 AM EST up reply actions
Sirius XM Radio reached an 11th hour investment agreement with John Malone’s Liberty Media Corp. to stave off bankruptcy on Tuesday – the day Sirius was due to pay back investor Charlie Ergen $175 million in notes the company did not have. The deal calls for two phases of investment totaling $530 million in loans from Liberty Media, which will get preferred stock equal to 40% of Sirius’s common equity in exchange. EchoStar Chairman Ergen began buying up Sirius debt last fall in a play to possibly take control of the company.
by JulioBernazard on Feb 18, 2009 7:44 AM EST up reply actions
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