Sirius Stock Deal Erases Debt
In August, the future looked cloudy for <A HREF="http://www.sirius.com">Sirius Satellite Radio, Inc.</A> Despite the eventual commercial promise of satellite radio, the startup suffered from massive debt accrued during its development and from a slow initial subscription rate. Company officials had discussed a <A HREF="http://www.stereophile.com/news/11421/">possible bankruptcy filing</A> if additional financing couldn't be found.