Sirius/XM needs some cash...

limegrass69

Confused
Oct 12, 2008
6,069
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New York
Sirius is considering issuing stock to help raise the funds required to repay $1.05 billion of debt that matures next year. I would think the company would prefer to refinance the debt, but the market may not be all that receptive to that.

They are also considering a reverse stock split (anywhere from 1:10 to 1:50) to help Sirius keep its NASDAQ listing. The reverse split would push the stock back over $1 per share.

In the meantime, hopefully, Sirius will be doing things to help improve their cash flow.
 

katyinc

New Member
Feb 13, 2009
14
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I need money also, know a lot of folks who do, these folks went and got themselves in their own mess, let them get out of it, who is going to help the little guy.:titanic:
 

Vols44

Well-Known Member
Oct 18, 2008
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Paring some of the multi million dollar contracts with people who don't show up for their station is a big start on slashing costs. I don't think many would miss Oprah, Martha Stewart and Eminem to name a few. Merging billing services and customer support services for SXM will save time and money. The companies might be together, but act like they're still apart in many areas.
 

vinnyv07

Member
Feb 28, 2009
32
1
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I pay enough to this company or companies ( I have no idea if they are merged or not at this point). I agree with the poster above. They are still acting as if they are 2 seperate companies. They finally got approval to merge and they are still two seperate companies. They should get rid of Oprah and Martha....they are useless chs. I do enjoy Stern and Maddog a bunch. They could save tons of money, but they haven't taken enough action yet.
 

IdRatherBeSkiing

Sherbert is not and never will be ice cream
Oct 11, 2008
17,078
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Toronto, ON
I pay enough to this company or companies ( I have no idea if they are merged or not at this point). I agree with the poster above. They are still acting as if they are 2 seperate companies. They finally got approval to merge and they are still two seperate companies. They should get rid of Oprah and Martha....they are useless chs. I do enjoy Stern and Maddog a bunch. They could save tons of money, but they haven't taken enough action yet.
They are bound by the contracts they signed previously. I believe Oprah expires this October and I would hope if they keep her it will be at a much lower rate. Not sure when Martha expires. Since they are paying them, and bound by law to pay them, they may as well keep the channels.
 

kryptonite

Well-Known Member
Oct 21, 2008
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They are bound by the contracts they signed previously. I believe Oprah expires this October and I would hope if they keep her it will be at a much lower rate. Not sure when Martha expires. Since they are paying them, and bound by law to pay them, they may as well keep the channels.
Last I checked, Sirius XM is not Clear Channel. It may suck, but it's a lot more affordable to keep someone instead of buying them out.

(Unless you happen to be Clear Channel. Then you just dump your talent and not pay what you owe them.)

I agree. I don't think too many people would miss Oprah and Martha. OTOH, if Oprah actually told her fans to buy XM radios, their subscriptions would probably shoot through the roof.



Merging the billing should happen ASAP. If I have one XM radio and one Sirius radio, I see no reason why I should have to pay $12.95 + $12.95 for one month of programming on both radios.
 

IdRatherBeSkiing

Sherbert is not and never will be ice cream
Oct 11, 2008
17,078
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Toronto, ON
I agree. I don't think too many people would miss Oprah and Martha. OTOH, if Oprah actually told her fans to buy XM radios, their subscriptions would probably shoot through the roof.

Or she could give one to everybody in her audience. Its cheaper than giving away cars.
 

vinnyv07

Member
Feb 28, 2009
32
1
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They are bound by the contracts they signed previously. I believe Oprah expires this October and I would hope if they keep her it will be at a much lower rate. Not sure when Martha expires. Since they are paying them, and bound by law to pay them, they may as well keep the channels.
I agree with you. They may as well keep the chs if they are under contract. Martha and Oprah spend very little time on "their" chs. I know not everyone likes Maddog, but at least he does a daily show on his ch and has help to put together a hell of a sports radio station. Some people deserve their contract and some don't.
 

sportboy

Member
Dec 18, 2008
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Lets not put all blame on the likes of Martha or Oprah(I don't like either one, BTW). Blame has to be put on the Sat. companies for starting a channel with their name and not putting terms in their contracts which stipulates how much time they have to spend on their own channels.

Looks like XM and Sirius was banking on the fact with these "big names", that was all they would need and people would sign up in droves to pay for their contracts. Ooops, looks like a horrible decision by XM and Sirius. So big of a mistake, that this is one of the biggest reason these companies are in serious jeopardy of surviving.
 

Jon

Well-Known Member
Dec 16, 2008
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Amsterdam in the Rockies
This company/these companies will survive. It may take a re-split ala AOL/Time Warner, or it may take a complete buyout then split by Echostar or Liberty, with Mel on the street where he belongs.
 

sportboy

Member
Dec 18, 2008
96
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I'm betting on a complete buyout when the company is even cheaper than it is today and when the horrendous contracts are out of the way.