XM Sirius Files For Chapter 11
Satellite radio is in deep trouble. XM Sirius, after finally merging, has just filed for bankruptcy protection.
I'm here at the Radio Ink Convergence conference, the response to the news was a cheer.
A few thoughts...
Debt is what killed XM. Anything that involves spaceships to get up and running has some serious capital expenses.
But debt is what's killing terrestrial radio too, so terrestrial shouldn't get too smug.
Both of them have decent cash flow.
Audio media in trouble is bad for all audio media.
These are just my first thoughts. I'll write more later.