Sirius XM Radio (SIRI:$0.1139,$0.0039,3.55%) has hired advisers to prepare for a possible bankruptcy filing, according to sources. It is unclear how bankruptcy would affect customers and service is unlikely to be interrupted but the company may have to terminate high price tag contracts with stars such as Howard Stern and Martha Stewart. Documents and analysis are close to completion and a filing could come in a matter of days. [Reference Link]:[http://blogs.wsj.com/deals/2009/02/10/bank-of-america-memo-i-know-that-talk-can-be-cheap/]
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