According to an article in the Star-Telegram, there are rumors that Sirius XM Radio who has over 20 million subscribers is preparing for bankruptcy as they struggle to pay off $175 million in debt due this week. Many analysts predict bankruptcy for the radio satellite provider whose merger with XM was mired in controversy and who has yet to make a profit since its inception. And to make matters worse, Sirius XM’s subscriber growth has steadily declined …

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… of filing for bankruptcy in the next 12 months.

Despite a recent investment deal, satellite radio operator Sirius XM Radio Inc, was second on the study’s bankruptcy risk list, with about a 9 percent risk of filing for bankruptcy in the next year.

Both Sirius and Rite Aid are struggling with heavy debt loads stemming from recent acquisitions.

Sirius acquired XM Radio in 2007 while Rite Aid acquired the Brooks and Eckerd drugstore chains in the same year.”

Even other companies …

Tags: Bankruptcy Business Sirius XM Radio

Air America Radio, a radio network that was launched in 2004 was abruptly shut down after experiencing severe financial troubles.  The left leaning radio network, which owned 100 radio outlets nationwide, filed Chapter 7 bankruptcy so that it can be liquidated to repay creditors.

“The very difficult economic environment has had a significant impact on Air America’s business. This past year has seen …

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… holding company of MediaNews Group Inc., which owns 54 daily newspapers, along with television and radio broadcasters, plans to file Chapter 11 bankruptcy after getting hit hard by the lagging advertising revenue that sent their balance sheet into a tailspin.

MediaNews said its holding company will file a “prepackaged” bankruptcy …Under MediaNews’s plan, senior lenders will swap debt for equity, helping reduce the company’s debt load from about $930 million to $165 million. …

Tags: Chapter 11 Bankruptcy MediaNews Group Radio William Dean Singleton