Read this piece about satellite radio on the New York Times website this morning. Bottom line: After years and years they have still yet to yield a profit. Paying people like Howard Stern unseemly gobs of money when your only revenue stream is subscribers paying fourteen or so dollars a month is not a good business plan. Couple that with huge debt and a deep recession where people are going to cut back on things like satellite radio subscriptions, and Sirius XM is in big trouble.
I have thought about switching over to satellite over the years. I may yet do it, but not until those guys get their financial affairs in order.
More in a bit.