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Audio/Video, iPod, iPhone

Sirius XM Developing iPhone / iPod touch Streaming Radio App


My, my -- now isn't this something? Shortly after narrowly avoiding a dastardly collision with bankruptcy, Sirius XM is looking to connect itself with profitable enterprises in an attempt to build market share and regain interest from budget-conscience consumers. Just weeks after hearing that the sat radio company could be preparing a few Sirius / DirecTV bundles, CFO David Frear has now confirmed on a recent earnings call that the outfit is indeed developing an iPhone / iPod touch app. It's interesting to think that a satellite radio firm could be warming to delivering more content via the internet, but it's the apparent diversion from being a standalone offering that has us even more intrigued. It should be interesting to see how the pricing model works with this forthcoming app -- will users be able to get an iPhone subscription only? Will it be tossed in gratis with traditional subscriptions? So many questions, not enough patience. [Image courtesy of SiriusBuzz]

Audio/Video, Car Tech

Liberty Media Rescues Sirius XM from Bankruptcy


We guess those bailout talks with DirecTV weren't so futile after all, huh? The satcaster's parent company, Liberty Media, has just stepped in to rescue Sirius XM from the clutches of bankruptcy, providing a $530 million life raft that it will use to pay off looming debt payments and keep operations humming. Liberty will write a $280 million check immediately, of which $171 million will go straight to debtors. Another round of funding (to the tune of $250 million) will be available to Sirius XM in order to "help it pay its debts and ward off a potential takeover of Sirius by Charlie Ergen's DISH Network."

In return for this mighty appreciated favor, Liberty Media will own 12.5 million shares of preferred stock in Sirius XM, which it can convert into common stock should it so choose. Also of note, founder John Malone and Liberty Media CEO Greg Maffei are likely to join Sirius XM's board of directors. Is that a collective sign of relief we just heard, or what? [Via Denver Business Journal, thanks Michael]

Audio/Video, Home Audio, Portable Audio

Report: Sirius XM Preparing to File for Bankruptcy

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

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