The New York Times is reporting that satellite radio provider Sirius XM is preparing to file for bankruptcy. While the bankruptcy will unlikely affect customers and service, it does put into question the future of popular radio shows like Howard Stern, Opie and Anthony, and Martha Stewart. Maintaining these high profile shows (like Stern’s 100 Million dollar a year contract) comes at a hefty cost to the troubled Sirius XM, and looking to cut costs, may result in talent contract renegotiations or even possible termination.


From nytimes.com

“A bankruptcy would make Sirius XM one of the largest casualties of the credit squeeze. With over $5 billion in assets, it would be the second-largest Chapter 11 filing so far this year, according to Capital IQ. The filing by Smurfit-Stone, with assets of $7 billion, has been the year’s biggest to date."

"A bankruptcy would make Sirius XM one of the largest casualties of the credit squeeze. With over $5 billion in assets, it would be the second-largest Chapter 11 filing so far this year, according to Capital IQ. The filing by Smurfit-Stone, with assets of $7 billion, has been the year’s biggest to date.”

"The company’s success and failure are also tied to the faltering fortunes of the automobile industry, which sells vehicles with its radio technology installed and represented the largest customer base among Sirius XM’s 20 million subscribers."

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