Sirius Gets a Boost
Combine the challenge of establishing a start-up with the launch of an entirely new consumer electronics market and you've got the recipe for a highly volatile and explosive brew. But news of a successful $1.2 billion re-capitalization announced last week indicates that three-year old digital radio pioneer Siriushttp://www.sirius.com">Sirius; will likely remain intact—at least for now.
Sirius Gets Serious
Sirius">http://www.siriusradio.com">Sirius Satellite Radio has achieved three milestones in its campaign to reach profitability.
Sirius Hits 100,000
The numbers are up for Sirius">http://www.siriusradio.com">Sirius Satellite Radio. On June 23, the New York–based digital broadcaster announced that it had exceeded 100,000 subscribers for its 100-channel music/news/entertainment service. Sirius offers 60 channels of commercial-free music and 40 channels of news, sports, talk shows, comedy, and other programming.
Sirius Satellite Radio Goes National
Sirius">http://www.sirius.com">Sirius Satellite Radio is now available nationally.
Sirius Stiletto Slashes the Cord
On September 26, Sirius Satellite Radio announced the availability of the $350 Stiletto 100, "the company's first live portable radio, featuring WIFI, Yahoo music purchasing software, and the ability to save music subscribers love for playback later."
Sirius Stock Deal Erases Debt
In August, the future looked cloudy for Sirius">http://www.sirius.com">Sirius Satellite Radio, Inc. 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 possible">http://www.stereophile.com/news/11421/">possible bankruptcy filing if additional financing couldn't be found.
Sirius Subs Double, But Trouble Looms
Digital satellite radio is one of the most promising entertainment developments since the invention of the DVD. It's also a high-risk venture for investors.
Sirius Supports The Bottom Line
Sirius Satellite Radio is concerned about The Bottom Line. Not the company's profitability, but the venerable Greenwich Village music cabaret, which has suffered since the terrorist attacks on the World Trade Center on September 11, 2001.
Sirius Surges
Industry observers have long debated the ultimate fate of satellite broadcaster Sirius Radio. Front-runner XM Radio, with more than two million subscribers, is already above the break-even point, but for many months Sirius struggled against technical problems and overwhelming debt. Would the fledgling survive, get devoured by its larger competitor, or worse, get picked up in a fire sale by Rupert Murdoch's News Corp.?
Sirius to Go
Sirius">http://www.siriusradio.com">Sirius Satellite Radio may be positioned to make the next great leap forward. In mid-May, Kenwoodhttp://www.kenwoodusa.com">Kenwood; and Audiovoxhttp://www.audiovox.com">Audiovox; announced the first transportable receivers, which will let Sirius listeners enjoy the service wherever they go—home, office, boat, beach, etc—not only in the comfort of their cars.