The New York Times is out with a piece on Sirius/XM’s quest for cash. While subscriber numbers and revenue have been growing at a very healthy clip, the company is heavily burdened with debt – which they’re finding difficult to refinance at favorable terms in the current economic climate. And bankruptcy is on the table. While I represent the tech vanguard, rather than the mainstream, the Times did cite my defection (and questionable taste in music) to Internet radio as one of Sirius’ challenges… as they prepare to spend $250-$300 million on another satellite launch:
Dave Zatz […] was an XM subscriber but dropped the service after his favorite channel, Chrome […], was dropped. Now, he says, he streams Pandora, a popular Internet radio service, through his iPhone while driving. “The price is right and you can get whatever music you like,” he says.