Sirius News: Sirius XM satellite radio on the verge of bankruptcy

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The New York Times is reporting that Sirius XM Satellite Radio is on the verge of bankruptcy. It has hired advisers to prepare for a possible bankruptcy filing. The firm is a product of a merger of two satellite radio firms - Sirius and XM - who joined together last March. The firm then began by cutting niche programming and focusing on a more mainstream audience like the controversial replacement of punk radio with an all-AC/DC show.

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