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Stern: Satellite Radio 'Will Survive'
Sirius reportedly planning to file for bankruptcy
By Matt Cantor
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Posted Feb 12, 09 8:00 AM CST
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(Newser)
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Despite reports that Sirius XM radio plans to file for bankruptcy, Howard Stern says the format is headed in the right direction and will survive, Reuters reports. “Everybody's wondering about this whole bankruptcy thing with Sirius,” he said on his radio show. “I'm not concerned. I think satellite radio is great and will be a successful business and it will survive.” He called its current troubles “growing pains.”
Stern is key to the story of satellite radio, said a financial analyst, explaining, “I think there wouldn't have been a Sirius without him.” The shock jock—whose audience has fallen from 12 million to at most 2 million since he left terrestrial radio—acknowledged that a takeover by EchoStar Corp. is possible and said, “As long as someone is paying our salary, we're here and I believe we'll get paid and that satellite radio will be here.”