The New York Times is reporting that satellite radio company Sirius XM has hired analysts to prepare for a possible bankruptcy filing. The company has been in financial trouble since the jump, essentially, since the cost of launching satellites is astronomical, and the uphill climb of trying to convince people to pay for radio. But after Sirius and XM merged, it was thought that both would be more financially sound. That hasn't happened, as stock prices have plummeted (along with just about every other stock).
What impact the bankruptcy will have on users isn't known--but it's likely the company will have to look at downsizing, and ending contracts with the likes of Martha Stewart and Howard Stern. In other words, the main reasons anyone would have satellite radio would be gone.
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