Get ready for your service to get worse. SIRI common shareholders, get ready for some more pain.
Channels have been cut and some prices raised since the merger of Sirius and XM Satellite Radio. With the stock at 14 cents and mountains of debt, the company is on the ropes and has recently been converting bonds to stock.
The WSJ reports that Echostar, operator of the DISH Network, has been in the market buying up the debt. I'm not sure what the synergies are but DISH will be getting it if they want it.
From day 1 these guys paid way too much for on air talent and doomed themselves to fail.