According to The Wall Street Journal, Echostar has been quietly making moves that may be deemed as an attempt to take over Sirius XM Satellite Radio. EchoStar has allegedly been slowly acquiring a sizable portion of Sirius' multi-hundred million dollar debt. The 9-figure debt is reportedly set to mature before the month is over.Although Sirius XM reportedly has a $501 million market value, it has not been turning a profit. Its shares have plummeted to 14 cents each.
Consumers don't seem to be embracing satellite radio in droves. This makes me wonder about the whole forced digital tv conversion that is on the horizon.
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