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Re: SIRIUS RADIO
Posted: February 13, 2009 9:02 am
by piratenurse
We had XM for 2 years but declined to renew last month. Many channels had advertisements and I found the libraries to be lacking. It just wasn't worth the money for us. I stick to the free stuff and my CDs now.
Re: SIRIUS RADIO
Posted: February 13, 2009 9:03 am
by Feesh
surfpirate wrote:Clairebert wrote:From Inside Radio (a daily radio trade publication that happens to be owned by Clear Channel):
Sirius XM preps for bankruptcy; May pave way to scrap big-ticket contracts. It could be just a matter of days until the high-flying satellite radio company comes crashing to earth and seeks Chapter 11 bankruptcy protection. The New York Times reports Sirius XM Radio has been working with restructuring experts and bankruptcy attorneys to help prepare the filing which is likely to be made before a $300 million debt payment is due next Tuesday. Documents and analysis are nearly completed and are ready to go. CEO Mel Karmazin has already swapped stock for some of that, but still faces a $175 million repayment. With nearly a billion dollars in debt coming due this year, it’s only the tip of the iceberg. Analysts say a Chapter 11 filing may also force the hand of EchoStar and Dish Network CEO Charlie Ergen, who has been buying up Sirius XM stock in recent weeks in preparation for what many believe is a hostile takeover attempt. He may instead make a formal offer to avoid a bankruptcy auction. Under a Chapter 11 restructuring plan, Sirius XM may get a judge to invalidate some of its most expensive contracts, including hundreds of millions of dollars it’s still locked into paying the NFL and Major League Baseball. The satcaster may look to reconsider some of its celebrity names such as Martha Stewart and Oprah Winfrey who have done less to drive subscriber sales. One big ticket item not likely to be set loose is Howard Stern, despite a deal that will pay him $500 million over five years. Stern told listeners in December he plans to leave when his current deal expires. Muzak files Chapter 11 — See Page 3.
Expect Stern to start trashing Sirius/XM on his show soon if he hasn't already. That's his method. He did that before he left his last contract. I wouldn't want that guy working for me for free.
I highly doubt this. He's said nothing but great things about Sirius since he's been there and before he went.
Re: SIRIUS RADIO
Posted: February 13, 2009 9:06 am
by Feesh
Bfan53again wrote:From MSN Money page regarding the expected Sirius/XM bankruptcy:
So what does all this mean for customers? Radio service will probably continue. The bad news is that a bankruptcy allows the company to hit the reset button in several areas. It might raise prices, even after promising that it would not.
And the company could get out of expensive contracts, most notably its deal with Howard Stern. The shock jock has already talked about leaving when his contract ends next year. But losing Stern would be disastrous, since he brought a legion of loyal fans into satellite radio.
So yeah, Sirius XM will limp along, and it still has the potential to be an amazing, profitable business one day. That's the reason shareholders have stuck it out for so long.
Not gonna happen. They want to make money, not lose it. If Stern goes before his contract is up, the company will take a huge hit. His name is on two channels - he's not going anywhere.
Re: SIRIUS RADIO
Posted: February 13, 2009 9:19 am
by ParrotHeadInThe Making
Feesh wrote:Bfan53again wrote:From MSN Money page regarding the expected Sirius/XM bankruptcy:
So what does all this mean for customers? Radio service will probably continue. The bad news is that a bankruptcy allows the company to hit the reset button in several areas. It might raise prices, even after promising that it would not.
And the company could get out of expensive contracts, most notably its deal with Howard Stern. The shock jock has already talked about leaving when his contract ends next year. But losing Stern would be disastrous, since he brought a legion of loyal fans into satellite radio.
So yeah, Sirius XM will limp along, and it still has the potential to be an amazing, profitable business one day. That's the reason shareholders have stuck it out for so long.
Not gonna happen. They want to make money, not lose it. If Stern goes before his contract is up, the company will take a huge hit. His name is on two channels - he's not going anywhere.
I agree with you. Love Howard or hate him, but he seems to like the personal freedom he has with Sirius. Where else is he going to get free reign of 2 channels. I'm not nuts about the guy, but a few weeks back he did a very good interview with Paul McCartney. It was quite obvious that he is a fan of McCartney's, and he treated Paul with respect.
Re: SIRIUS RADIO
Posted: February 13, 2009 10:49 am
by Feesh
ParrotHeadInThe Making wrote:Feesh wrote:Bfan53again wrote:From MSN Money page regarding the expected Sirius/XM bankruptcy:
So what does all this mean for customers? Radio service will probably continue. The bad news is that a bankruptcy allows the company to hit the reset button in several areas. It might raise prices, even after promising that it would not.
And the company could get out of expensive contracts, most notably its deal with Howard Stern. The shock jock has already talked about leaving when his contract ends next year. But losing Stern would be disastrous, since he brought a legion of loyal fans into satellite radio.
So yeah, Sirius XM will limp along, and it still has the potential to be an amazing, profitable business one day. That's the reason shareholders have stuck it out for so long.
Not gonna happen. They want to make money, not lose it. If Stern goes before his contract is up, the company will take a huge hit. His name is on two channels - he's not going anywhere.
I agree with you. Love Howard or hate him, but he seems to like the personal freedom he has with Sirius. Where else is he going to get free reign of 2 channels. I'm not nuts about the guy, but a few weeks back he did a very good interview with Paul McCartney. It was quite obvious that he is a fan of McCartney's, and he treated Paul with respect.
Baba booey - yes I'm a Stern fan. Love the guy or hate the guy - there's not anyone better to get people to open up about their lives. Too much, we're spoonfed garbage interviews on network TV that are pre-planned with publicists - the same old easy questions are given to celebrities and politicians that you hear over and over again.
There have been some GREAT Stern interviews over there years and the McCartney interview was another great one.
Re: SIRIUS RADIO
Posted: February 14, 2009 7:16 am
by Bfan53again
Feesh wrote:Bfan53again wrote:From MSN Money page regarding the expected Sirius/XM bankruptcy:
So what does all this mean for customers? Radio service will probably continue. The bad news is that a bankruptcy allows the company to hit the reset button in several areas. It might raise prices, even after promising that it would not.
And the company could get out of expensive contracts, most notably its deal with Howard Stern. The shock jock has already talked about leaving when his contract ends next year. But losing Stern would be disastrous, since he brought a legion of loyal fans into satellite radio.
So yeah, Sirius XM will limp along, and it still has the potential to be an amazing, profitable business one day. That's the reason shareholders have stuck it out for so long.
Not gonna happen. They want to make money, not lose it. If Stern goes before his contract is up, the company will take a huge hit. His name is on two channels - he's not going anywhere.
I guess we'll all see how this little drama plays out........but the downturn of the new auto market devastated Sirius/XM. A majority of people are first exposed to satellite radio when buying a new car and the company needs this constant infusion of new listeners to become long-term subscribers. Like others have said I also get a bit pi$$ed when ads pop up on certain channels. I thought satellite radio was to be "commercial free"?????
Re: SIRIUS RADIO
Posted: February 14, 2009 7:34 am
by karat
Lately I have heard some stations are more like standard radio. I do not like stern I think he is a horse's a$$ I got the radio because of RM and the era music. Comedy stations are good to listen to on the way to work. I hope things workout. I have the boombox as well as a the portable
Re: SIRIUS RADIO
Posted: February 15, 2009 7:28 am
by a1aara
From Orbitcast/NYPost -
White Knight: Liberty Media offers Sirius XM bridge loan
Liberty Media Corp. is offering Sirius XM Radio Inc. a bridge loan of several hundred million dollars to help save the company from bankruptcy and pay off debt that matures on Tuesday, according to The New York Post.
The loan is part of a two-step approach that Liberty Media's John C. Malone wants to take as the veritable "white knight" looks to bail out Sirius XM, according to The Post's source.
As part of the plan, Malone would provide Mel Karmazin enough cash to repay $175 million in debt that EchoStar's Charlie Ergen currently holds in the company.
Liberty then would have 3-months to come up with a plan to restructure Sirius XM's approximate $600 million in debt that comes due in May and in December.
One scenario could involve Liberty buying up Sirius XM debt on the open market, a scenario straight out of Charlie Ergen's playbook. Another scenario involves Liberty Media making a pitch directly to Sirius XM's bondholders.
The company is still not definitively out of the woods yet, but things are looking a slight bit more hopeful as we go into the President's Day weekend.
Edit - added this quick "PS" from SiriusBuzz.com:
Sirius XM To Avoid Chapter 11
February 14, 2009 (3:12 pm) Brandon Matthews
In a turn of events worthy of a Hollywood movie script, the New York Post is reporting that “John Malone’s Liberty Media is offering Sirius XM a bridge loan of several hundred million dollars to help pay off debt that matures Tuesday.” The article also mentions that Liberty and Sirius XM are working together on a plan to deal with Sirius XM’s other debt obligations due in May and December.
It appears that Sirius XM has in fact accepted the offer as the following news had come across the Dow Jones Newswires just hours earlier:
S&P Removes Sirius XM Rtgs From CreditWatch Neg
Last update: 2/13/2009 4:31:38 PM
(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)
February 13, 2009 16:31 ET (21:31 GMT)
With literally hundreds of news agencies reporting that Sirius was heading for a Chapter 11 filing as early as Tuesday, it would appear that the bondholders were given notice of the events that were going on behind closed doors at Sirius XM headquarters.
Taking a step back to review the bigger picture, this should generate a lot of excitement on Wall Street. With credit markets making it hard for struggling companies to survive in the current environment, news of such a bridge loan warrants center stage as other companies may now look to the lead provided by Mel Karmazin and John Malone.
This could turn out to be a SIRI investors best case scenario as the news had broken after 7 p.m. yesterday. Facing a three day weekend, most traders had left for the weekend yet the stock which had risen nearly 42% during the regular market hours on Friday, rose an additional 23% as the news was breaking. With all of the outstanding debt issues currently being addressed, Tuesday trading may bring new life to the struggling equity. The nagging debt has held SIRI shares down since the completion of the successful merger of the two U.S. satellite radio providers. With the company’s debt issues removed, SIRI investors who have held their shares may finally be rewarded.
Re: SIRIUS RADIO
Posted: February 15, 2009 7:36 am
by Tropic_Al
Not to make light of a serious subject (no pun intended) but it's great news that their stock is going up. What's it up to now? 11 cents a share?
Re: SIRIUS RADIO
Posted: February 15, 2009 7:45 am
by Bfan53again
Here's an interesting article on how Sirius/XM could possibly survive:
http://www.slate.com/id/2211158
I hope the company management is listening.......
Re: SIRIUS RADIO
Posted: February 16, 2009 3:13 pm
by IrishPirate
And just in time for concert season. . . Sirius is going to start charging for listening on internet radio!!!!
An extra $2!
You can lock in to keep it free by extending your subscription before 3/20 .
Re: SIRIUS RADIO
Posted: February 17, 2009 5:56 pm
by Bfan53again
Sirius/XM gets a reprieve......for now:
Liberty Media a white knight for Sirius
Satellite radio producer Sirius (SIRI, news, msgs) was saved by investor Liberty Media (LCAPA, news, msgs) from bankruptcy today. Liberty Media owner John Malone agreed to invest $530 million in Sirius.
Sirius will reportedly have to hand over an important equity stake, possibly as much as half of its outstanding shares. Liberty has covered the $175 million debt service payment due from Sirius today.
Sirius has thus avoided making a deal with satellite mogul Charles Ergen of Echostar (SATS, news, msgs), who owns part of its debt.
Sirius shares rose 52.5% to 16 cents.
Who is Liberty Media????
Liberty Media Corporation is a holding company, which through its ownership of interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries. Through its subsidiaries, the Company operates in North America, Europe and Asia. Its principal businesses and assets include QVC, Inc. and Starz, LLC and interests in IAC/InterActiveCorp, Expedia, Inc. and The DIRECTV Group, Inc. In January 2008, the Company acquired controlling stake in Bodybuilding.com, a sports nutrition electronic retailer. Liberty Media's interest in Bodybuilding.com will be attributed to the Liberty Interactive group.
Re: SIRIUS RADIO
Posted: February 17, 2009 5:59 pm
by C-Dawg
I just heard this and posted it in the other Sirius thread 
Re: SIRIUS RADIO
Posted: February 17, 2009 6:07 pm
by Bfan53again
C-Dawg wrote:I just heard this and posted it in the other Sirius thread
Hey Chris.....time for a boat drink or two. What do you think?????
Re: SIRIUS RADIO
Posted: February 17, 2009 6:10 pm
by C-Dawg
Bfan53again wrote:C-Dawg wrote:I just heard this and posted it in the other Sirius thread
Hey Chris.....time for a boat drink or two. What do you think?????
GPHMTA......anytime you're ready brother....any chance you'll be at GW?
Re: SIRIUS RADIO
Posted: February 17, 2009 6:14 pm
by Bfan53again
C-Dawg wrote:Bfan53again wrote:C-Dawg wrote:I just heard this and posted it in the other Sirius thread
Hey Chris.....time for a boat drink or two. What do you think?????
GPHMTA......anytime you're ready brother....any chance you'll be at GW?
Man, I've always wanted to see JB at GW, but just a bit of a hike from PA. Got tickets for Nissan on 9/5 and hope to also get seats for the Atlantic City show on 8/23 when they go on sale. Hopefully some day you and I can hook up!
Till then, thank God for BN.......
Re: SIRIUS RADIO
Posted: February 17, 2009 6:16 pm
by C-Dawg
Re: SIRIUS RADIO
Posted: February 17, 2009 6:18 pm
by Bfan53again
No doubt in my mind, buddy.......