Topic / Sirius XM

Sirius XM prepares to go bankrupt as debt repayments due soon

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The merged company of satellite radio companies, Sirius and XM, could face going into a possible bankruptcy as it tries to pay off its $3.25 billion debt that it had used to pay its talent, like shock-jock Howard Stern and Martha Stewart, and launching new satellites into space. Sirius XM is soon to pay $175 million of its debt at the end of February, but it could be unlikely to […]

Sirius shareholders sue Sirius XM management over “enriching themselves”

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A group known as Save Sirius has launched a lawsuit against the management of Sirius XM for “unjustly enriching themselves at the expense of shareholders,” according to a press release, released today. Filed in the US District Court, Central District of California, Southern Division, the case also says that the company also violates the Federal Racketeer Influenced and Corrupt Organizations Act (RICO) and breaches the Fiduciary Duty and the Sherman […]

Sirius XM merger completed

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Sirius has said that it has finished its purchase of its rival XM Satellite Radio to form a new company that competes with traditional FM radio and digital audio players like the iPod – after the FCC approved the deal, which was announced in February last year. The new company will now be known as Sirius XM Radio, and will have a total of 18.5 million subscribers; and will now […]

FCC clears XM/Sirius merger

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The US regulators have agreed to conditionally approve the merger between the only two satellite radio providers in the US, Sirius and XM – and they will pay millions of dollars to settle allegations of past violations on their part. They will pay $19 million to the FCC to settle compliance issues involving certain radios that include FM transmitters and repeater stations. The new agreement will allow the two companies […]

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