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And Another One Gone, And Another One Gone

ryan_hermanutz

By ryan_hermanutz
in Future GM News & Rumors

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mr_bots Enthusiast

mr_bots

Posted
Posted

I read this a little earlier...hopefully they don't have to liquidate. I read some more into it, they have some ridiculous contracts. Howard Stern's is $100million/yr, Oprah is $55million/yr, $30million/yr with NFL, $60million/yr with MLB, etc. All obscene amounts of money right now. WSJ reports that they have until February 17th, to come up with $175 million or they'll have to file bankruptcy, which would open a good change that EchoStar (DishNetwork) will try to takeover the company. They already holding about $400million in debt for Sirius XM.

C. Charles Hahn Senior Enthusiast

C. Charles Hahn

Posted
Posted

Ouch! I hope we don't lose satellite radio altogether; I'd be in a serious world of hurt since it's all I listen to anymore.... :rolleyes:

99silveradoz71 Senior Enthusiast

99silveradoz71

Posted
Posted

Yeah I heard talk of this on one of the FM talk stations driving to work last night. Thankfully I'm good through my vacation next month, whether I'll re-up or not will depend on what happens with them I suppose.

bigdogxx Enthusiast

bigdogxx

Posted
Posted
^^^^^^^^ what he said. :thumbs:

Plus I am paid up till the middle of 2010.

I hope THAT don't get canceled by the bankruptcy and I lose it.

 

 

This is why you don't buy blocks at a year a time, not positive on this but don't see how xm-sirius will even be able to make payroll never mind giving refunds. I can go into my truck and empty out the change in my ash tray holder, and buy almost a thousand shares of xm-sirius stock! They have lost over 50% today alone on the take over news.

 

They have no user base and it's getting lighter by the month as people can the service, and like was posted they took almost a Yankee approach writing out several just insane contracts that they knew at the time of writing that it would possible sink them.

L29er Senior Enthusiast

L29er

Posted
Posted

that would really suck to loose the service, being able to listen to radio anywere i work in the feild is just awsome, around here once your about an hour from town your SOL to get a local staion. I would mss it ALOT!

gave20 Senior Enthusiast

gave20

Posted
Posted

The company's not going anywhere, they'll restructure and renegotiation the jackass contracts with Stern and Oprah to make them more reasonable. I can almost guarantee Mel with not except Ergen's offer.

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