I recently read an article stating that Sirius XM Radio is now on the verge of bankruptcy. This leaves me to ask the question, What ever happened to satellite radio? Satellite radio was supposed to become the next big medium. The days of FM and AM radio
Sirius XM Radio SIRI fell 28 percent on a report about the satellite radio provider's ability to meet its looming debt payments and the possibility that it might seek bankruptcy protection.
Satellite radio giant, SIRIUS XM Radio (Nasdaq: SIRI), today announced sports talk personality Chris “Mad Dog” Russo has signed a five-year contract to headline a news ports channel, exclusive to SIRUS and XM.
XM Satellite Radio and Sirius Satellite fell to multiyear lows Thursday after Goldman Sachs analyst Mark Wienkes cut his price target for both companies, and predicted larger losses for each.
Analysts are all weighing in on the quarterly reports of XM (XMSR) and Sirius (SIRI). Some analysts are negative on the sector while others are positive. Price targets are established using various models, and differing assumptions are made by each analyst. Some analysts are basing their estimates on a merger, while others are still using stand-alone models.
"With the prospects of a merger approval between Sirius Satellite Radio and XM Satellite Radio improving stateside, so too are the prospects that Canadian Satellite Radio Holdings Inc., the Canadian partner of XM, and Sirius Canada will combine forces."
Man, It has been awhile since I kept the discussion alive on the Sirius/XM merger. Recently the approval talks have been getting closer to finalization. And the fact that the FCC says they will reach a decision by the first quarter of 2008 makes me even more confident that this merger is going to go through.
