Sirius/XM Radio.

[Cat Driver]

Seems they are filing for bankruptcy or bankruptcy protection.

We could lose not only our car radio service but XM weather in our airplanes.

[PAJ]

Crap ... and I just renewed my service (12 months) for the car!

Could be wrong but I don't think that the XM weather service out of the USA is available here. ??

[beaverbob]

Delete

[richd]

http://money.cnn.com/news/newsfeeds/art ... RTUNE5.htm


Hope not, as {due to me not reading the small print} i've pre paid for a 5 year subsciption.....

Love the service though

[YoungPunk]

Ya i just read about this as well. Man without Sirius all I get is CBC Radio 1. I'll go insane out here!

[deflux]

I cancel mine and restart it depending on where I am living

Right now I am in the GTA so no need for it. I know plenty of people who signed up for their lifetime subscription. It was like 400 bucks. Hopefully they don't get shafted.

[Liquid Charlie]

Damn -- I have been a Sirus Subscriber for about 7 years(long before they came to Canada -- I have a life time subscription and what a deal that is -- I think once the dust settled it cost me about $200 (they had a promotion) -- I went for the Stilleto 2 and it's the 4th receiver I bought and by far the best -- I use it all the time and would recommend it to anyone -- damn I hope they remain transmitting



The only bad thing about Sirius -- it makes cd changers obsolete

[yzfer]

I just renewed for a year a couple weeks ago. It would be a shame to see them go so soon after finally merging the channels(which made it even better than before in my opinion). The odds of a new start-up would be pretty small considering all the regulatory requirements both companies had to go through to provide service in the US and Canada. Came accross this little post on engadget, sheds a bit of possible light: http://www.engadget.com/2009/02/10/repo ... ankruptcy/

[BibleMonkey]

You are all a bunch of whiney Pusseys. Wop May, Doc Oats, and Punch Dickens didn't have no Sirius/XM radio !


=============

Okay, Okay-don't bite my head off-that was my curmudgeon imitation.....

[C-FKLY]

Damn. I guess we'll all have to go back to the soft, crackling tunes of CBC radio 1010 -- providing the ADF wasn't removed from your plane

[BoostedNihilist]

if sirius does go down I'm going to have to add that bitch anna maria tremonte to my deadpool list

[YoungPunk]

if sirius does go down I'm going to have to add that bitch anna maria tremonte to my deadpool list

AMEN!

[xsbank]

With bells on!!

[Cat Driver]

The CBC should be in the dead pool.

[Adam Oke]

Sirius is going bankrupt due to the initial start up costs of getting the recievers out and satellites up in the air. They had a huge debt with the bank and EcoStar purchased the debt from the bank. I forget what the term is (when you must pay a loan back immediately), however I believe EcoStar is making Sirius pay up ASAP.

With huge profit potential, and increasing subscribers daily ... I wouldn’t be too concerned about losing satellite radio. I would bet it is soon to be owned by EcoStar. The Sirius stock might be worthless, but I wouldn't count on losing subscriptions. EcoStar's stock however may be an interesting thing to watch.

[1000 HP]

Hmm. I just canceled my subscription today. (We've got a great radio station here) Hope that doesn't break the camel's back

[Guido]

Hmm. I just canceled my subscription today. (We've got a great radio station here) Hope that doesn't break the camel's back

If it does, you may not be popular around here very long...... ...

[Changes in Latitudes]

Sirius is paying Howard Stern 100 million per year, they should start there.

[Adam Oke]

Stern is about the only one out there actively promoting satellite radio. I mean Oprah was paid to get an XM station and failed miserably at it. As much as I'd hate to admit it, Oprah would've been a good asset to satellite radio advertisement and promotion. Martha Stewart is in the same boat.

[Spokes]

Did you mean Ophra, as in book of the week and responsible for so much suffering and death, or opera as in fat guys singing music no one can understand?

[Adam Oke]

Did you mean Ophra, as in book of the week and responsible for so much suffering and death, or opera as in fat guys singing music no one can understand?

Actually neither, I mean Oprah. Edited as such. Thanks

[rotorfloat]

Bankruptcy protection eh?

That's what they get for cancelling BOOMBOX

ya, I'm still pissed

[BigglesNBella]

Bankruptcy protection eh?

That's what they get for cancelling BOOMBOX

ya, I'm still pissed

Amen to that!

[yzfer]

Looks like they might be safe for now.

Liberty Media buys stake in Sirius XM
Last Updated: Tuesday, February 17, 2009 | 9:14 AM ET Comments0Recommend8
CBC News
A Sirius Satellite Radio banner hangs outside the Metro Toronto Convention Centre on Feb. 11, 2009.A Sirius Satellite Radio banner hangs outside the Metro Toronto Convention Centre on Feb. 11, 2009. (Robin Rowland/CBC)

Sirius XM Radio Inc. and cable giant Liberty Media Corp. said Tuesday they have signed a deal in which Liberty will invest $530 million US in the financially troubled satellite radio company.

The two companies said the investment's first phase includes a $280 million US senior secured loan, $250 million US of which will be funded.

In exchange, Liberty will get 12.5 million shares of preferred stock convertible into 40 per cent of Sirius's common shares, and two seats on the company's board.

The investment represents a lifeline for Sirius XM as it attempts to manage its finances. Sirius XM, created when two competing companies — Sirius and XM — merged, has more than $5 billion US in assets. But the company has never made money and is carrying a debt of about $3.25 billion US.

Sirius had warned Friday it could file for bankruptcy protection as early as Tuesday if it was unable to restructure debt due later this year.

Sirius XM CEO Mel Karmazin said in a statement the deal was a welcome one, particularly given the tight lending market.

"Liberty's investment is an important validation of what Sirius XM has already achieved and a vote of confidence in what we will achieve," he said.

Rival satellite radio companies Sirius and XM merged last year because of financial difficulties. In Canada, they're still separate companies, and there are questions about what will happen to their Canadian listeners if the U.S. parent goes bust.

In Canada, Sirius, which is 40 per cent owned by the CBC, and XM remain two separate companies. Sirius XM pumps out music and entertainment on more than 100 channels every day. CBC Radio One and Radio 3 are among the stations carried by Sirius Canada.