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Sirius XM Considers Filing for Bankruptcy
Feb 11 2009 by Emily Hansen
I spend an inordinate amount of time in my car, and one of the things that gets me through that is my satellite radio — and I’m pretty sure I’m not out of the norm among suburban moms. This morning’s news of a possible Chapter 11 bankruptcy filing by satellite radio monolith Sirius XM stopped me in my tracks.
I bit the bullet last year and got myself an add-on satellite radio receiver. At the time, I had to choose between Sirius and XM because their merger wasn’t complete. I chose Sirius and haven’t looked back. The merger’s completion later in 2008 allowed me to enjoy not only the stations I loved on Sirius, but also those I missed on XM. What a boon!
I love that I can quell my kids with a little Radio Disney or find a smart talk show almost any hour of the day. I also love that, through the auxiliary jack in my car, my loud rock-out sessions are crystal-clear. I used to suffer through static because my favorite FM station was nearly 100 miles away and had marginal reception.
Now, I know Sirius XM hasn’t filed for bankruptcy protection yet; I also know that in this business climate a reorganization of a company that doesn’t benefit from the pressure of competition could spell disaster. I hope that keeping my subscription up-to-date will help in some tiny way. I’m keeping my fingers and toes crossed that my must-have mommy-sanity tool will survive. It looks like it might need all our good karma, considering its stock tumbled this morning on speculation of bankruptcy.
Do you love your satellite radio? What do you think about the prospect of it changing?
