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Tuesday, February 10, 2009
Sirius/XM Readies For Bankruptcy
The AP reports that Sirius/XM is preparing for Chapter 11 bankruptcy. This would probably mean MLB would get stiffed, in at least the short term, over their payments for MLB broadcasts.
I just bought a new car that includes 3 months of free XM radio. I hope I get to continue using it. Meanwhile, I'm not sure how this impacts its operations going forward, and whether I'd pay to keep it. Obviously, I won't pay if it's going to be shut down!
Chapter 11 means they're hoping to stiff their creditors while waiting for economic conditions to improve.