Sirius XM Radio has got a lot of big issues: a huge debt load; its deflated stock price; the auto industry — its biggest source of news subscribers — is hurting; and consumers are shying away from consumer electronics this holiday season.
The company planned to address some of those issues today at its shareholder meeting, hoping to win the right to issue 3.5 billion shares and launch a reverse stock split. Those moves may not fix all of its woes.
To be clear, they are bringing back “The Strobe” and “Backspin”, respectively, Disco and Old School Hip-Hip channels that bit the dust when Sirius last month combined its content with XM’s. The consolidation angered listeners and even sparked a mass cancellation effort.
Most people, save for “hip-hop heads”, have no idea who this respected figure in old school rap is. But for listeners of XM Satellite’s defunct channel “The Rhyme”, her show “Ladies’ First with Monie Love” was a “must-hear”, full of classic jams and special guests. (Think Little Steven’s show for rap crowd).