Sirius XM Prepares for Bankruptcy, Eminem's Shade 45 Radio Future Unknown

J-Banks · 02-12-2009, 05:18 PM

Sirius XM Prepares for Bankruptcy, Eminem's Shade 45 Radio Future Unknown

With a potential bankruptcy looming, Sirius XM, home of Eminem's Shade 45, may become one of the largest entertainment casualties of the current credit squeeze.

According to reports Sirius XM, the satellite radio company, is preparing for a possible bankruptcy.

Sirius XM has hired advisers to prepare for a possible bankruptcy filing, people involved in the process said. It is unclear how a bankruptcy would affect customers. Service is unlikely to be interrupted, but the company might have to terminate contracts with high-priced talent like [Howard] Stern or Martha Stewart. (NY Times)

As a result of the news, Sirius stock dropped drastically.

Shares of Sirius XM Satellite Radio Inc. (SIRI) dropped 31% in morning trading Wednesday on reports that the company could be close to filing for bankruptcy protection. The shares were down 3 cents at 8 cents. The stock traded in the $4 range two years ago. (CNN)

The US radio giant was formed in July of 2008 when former competitors, XM and Sirius, merged.

Sirius and XM completed their merger after winning a lengthy battle with regulators over concerns about market competition. The new company formed by Sirius Satellite Radio's buyout of XM Satellite Radio, will be called Sirius XM Radio Inc. The combined company has more than 18.5 million subscribers, making it the second-largest radio company, based upon revenue, in the country. (AFP)

The station's hip-hop uncensored channel, Shade 45, was created by rapper Eminem.

SIRIUS launched Shade 45, the uncensored, commercial-free hip-hop music channel created by Eminem, Shady Records, Interscope Records and SIRIUS in October 2004. The channel also features other high profile figures in the world of hip-hop. 50 Cent oversees G Unit Radio. (TopSatelliteRadio.com)

Source: Sohh

GoodMusicFam805 · 02-12-2009, 07:31 PM

Damn that sucks to hear!!!

Veronica · 02-13-2009, 03:39 PM

Wow, that really sucks.

Em50Dre · 02-13-2009, 11:57 PM

Not surprising, I don't think anything will happen to Shade45 tho, just the really big guys are gonna be bought out.

mksmn515 · 02-16-2009, 01:01 AM

who givs a shit. All i care about is if Stern will be on the air

shoulz · 02-16-2009, 03:40 AM

I knew this would happen.

People used to listen to radio for variety because their music collections where smaller (due to cost) and less portable.

With free downloads and on demand streaming (eg myspace, youtube) there is less of a need for radio. As more people get ipods, phones with massive storage and car players that can link to MP3 players radio will continue to go down.

WTF MiCKEUS · 02-16-2009, 10:30 PM

god damn !!!!

ny718 · 03-24-2009, 11:27 PM

This is crazy... f'in economy in the damn gutter

Kidss · 04-08-2009, 06:24 PM

Man fuckyou MkSmn515 Get A life And get Off Howard sterns Dick you Bitch Cause He's Nothing Compared to Eminem.

02-12-2009, 05:18 PM	#1
J-Banks Super Moderator Join Date: Feb 2005 Location: Providence, RI Posts: 21,015 Repped: 5,294 Repped 53,425 Times in 7,839 Posts Blog Entries: 1 Neg Reps: 53 Neg Repped at 93 Times in 86 Posts	Sirius XM Prepares for Bankruptcy, Eminem's Shade 45 Radio Future Unknown Sirius XM Prepares for Bankruptcy, Eminem's Shade 45 Radio Future Unknown Sirius XM Prepares for Bankruptcy, Eminem's Shade 45 Radio Future Unknown With a potential bankruptcy looming, Sirius XM, home of Eminem's Shade 45, may become one of the largest entertainment casualties of the current credit squeeze. According to reports Sirius XM, the satellite radio company, is preparing for a possible bankruptcy. Sirius XM has hired advisers to prepare for a possible bankruptcy filing, people involved in the process said. It is unclear how a bankruptcy would affect customers. Service is unlikely to be interrupted, but the company might have to terminate contracts with high-priced talent like [Howard] Stern or Martha Stewart. (NY Times) As a result of the news, Sirius stock dropped drastically. Shares of Sirius XM Satellite Radio Inc. (SIRI) dropped 31% in morning trading Wednesday on reports that the company could be close to filing for bankruptcy protection. The shares were down 3 cents at 8 cents. The stock traded in the $4 range two years ago. (CNN) The US radio giant was formed in July of 2008 when former competitors, XM and Sirius, merged. Sirius and XM completed their merger after winning a lengthy battle with regulators over concerns about market competition. The new company formed by Sirius Satellite Radio's buyout of XM Satellite Radio, will be called Sirius XM Radio Inc. The combined company has more than 18.5 million subscribers, making it the second-largest radio company, based upon revenue, in the country. (AFP) The station's hip-hop uncensored channel, Shade 45, was created by rapper Eminem. SIRIUS launched Shade 45, the uncensored, commercial-free hip-hop music channel created by Eminem, Shady Records, Interscope Records and SIRIUS in October 2004. The channel also features other high profile figures in the world of hip-hop. 50 Cent oversees G Unit Radio. (TopSatelliteRadio.com) Source: Sohh __________________ JBanksblog.com - check it out __________________

02-12-2009, 07:31 PM	#2
GoodMusicFam805 Aftermath & BDP Collabo Join Date: Feb 2007 Location: 805 OXNARD So-Muthafuukin-CALI Posts: 1,956 Repped: 1,231 Repped 7 Times in 5 Posts Neg Reps: 0 Neg Repped at 2 Times in 2 Posts	Damn that sucks to hear!!! __________________ "I work like a Mexican and spend like a White Man"-Lupe fiasco

02-16-2009, 03:40 AM	#6
shoulz Screwed Up Click Join Date: May 2004 Location: Australia Posts: 505 Repped: 291 Repped 62 Times in 15 Posts Neg Reps: 1 Neg Repped at 1 Time in 1 Post	I knew this would happen. People used to listen to radio for variety because their music collections where smaller (due to cost) and less portable. With free downloads and on demand streaming (eg myspace, youtube) there is less of a need for radio. As more people get ipods, phones with massive storage and car players that can link to MP3 players radio will continue to go down. __________________

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02-13-2009, 03:39 PM	#3
Veronica Join Date: Feb 2006 Location: USA Posts: 68 Repped: 9 Repped 5 Times in 5 Posts Neg Reps: 0 Neg Repped at 0 Times in 0 Posts	Wow, that really sucks.

02-13-2009, 11:57 PM	#4
Em50Dre Join Date: Jun 2007 Posts: 467 Repped: 94 Repped 21 Times in 12 Posts Neg Reps: 104 Neg Repped at 45 Times in 27 Posts	Not surprising, I don't think anything will happen to Shade45 tho, just the really big guys are gonna be bought out.

02-16-2009, 01:01 AM	#5
mksmn515 Veteran Join Date: Mar 2004 Location: Ann Arbor Michigan Posts: 4,801 Repped: 224 Repped 297 Times in 61 Posts Neg Reps: 4 Neg Repped at 9 Times in 7 Posts	who givs a shit. All i care about is if Stern will be on the air

02-16-2009, 10:30 PM	#7
WTF MiCKEUS Veteran Join Date: Feb 2009 Location: Glasgow, Scotland, U.K Posts: 3,493 Repped: 712 Repped 647 Times in 395 Posts Neg Reps: 186 Neg Repped at 145 Times in 135 Posts	god damn !!!!

03-24-2009, 11:27 PM	#8
ny718 Banned Join Date: Jan 2009 Location: Queens, NY Posts: 122 Repped: 4 Repped 9 Times in 6 Posts Neg Reps: 3 Neg Repped at 12 Times in 6 Posts	This is crazy... f'in economy in the damn gutter

04-08-2009, 06:24 PM	#9
Kidss Join Date: Mar 2009 Location: Bloomington Posts: 380 Repped: 0 Repped 34 Times in 26 Posts Neg Reps: 1 Neg Repped at 21 Times in 16 Posts	Man fuckyou MkSmn515 Get A life And get Off Howard sterns Dick you Bitch Cause He's Nothing Compared to Eminem.