Sirius XM filing for Bankruptcy and increasing their rates?

Music News | Feb 11th, 2009

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So Sirius XM is increasing their rates a few dollars and charging for online usage starting March 11th. Now they are reportedly filing for bankruptcy. And they expect people to fork over money into this sinking ship? As soon as I heard about the rate increase, I just felt that was the final nail in the coffin. I’m officially canceling my services with Sirius XM, especially if they plan on filing for bankruptcy. I’ll miss NHL Home Ice, Little’s Steven’s Underground Garage Rock station and sometimes O&A and Alt Nation, but that’s about it. If this goes down, those stations and DJs might not even be safe so what’s the point in securing a 3 year deal with the same rate if you don’t know what you’re going to get? I’ll just listen to my mp3 player in the car thank you.

From Rolling Stone:
Sirius XM radio is preparing to file for a possible bankruptcy, the New York Times reports. Despite the merger that brought together the two satellite-radio businesses in July 2008, the joint company remains in a $3.25 billion debt, thanks to the credit squeeze, high-price talent and the expense of sending satellites into space. While a bankruptcy announcement wouldn t likely cause any service interruption for customers, the NYT reports that the company could be forced to terminate the contracts of their marquee talent, namely Howard Stern, Martha Stewart and others that s right, Artie Lang fans, this could affect you.


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