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Report: Sirius XM Preparing to File for Bankruptcy

by Ross Miller on February 11, 2009 at 03:30 PM

Sirius XM is preparing to file for bankruptcy and could do so within days, the New York Times reports. According to the article, the move might be a calculated act to pressure Dish Network and EchoStar owner Charles Ergen into making an offer for acquisition. The Wall Street Journal says he offered to purchase the merged satellite radio group late last year and was then brushed off. Despite previous rejections, he's recently reaffirmed his desire try again. If it wasn't before, the honeymoon is now officially over.

Read - New York Times
Read - Wall Street Journal

Tags: business, charles ergen, CharlesErgen, dish network, DishNetwork, echostar, economiccrisis, ergen, sirius, sirius radio, sirius satellite radio, sirius xm, SiriusRadio, SiriusSatelliteRadio, SiriusXm, xm

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