Sirius XM Reportedly Considering Bankruptcy
Sirius XM Radio has hired advisors to plan for a potential filing of bankruptcy, the New York Times reported Tuesday. The the company is facing $175 million in debt payments this month that probably cannot pay.
The chain, whose merger was approved last year by the FCC, has struggled of late, due largely to both the credit crunch and struggles in the auto industry. A bankruptcy filing could lead to a takeover by Echostar.