Sirius Debt May Bankrupt Satellite Radio Company
It's not just the pay-for-play guys who are suffering: Inside Music Media lists a bunch of big radio companies whose stocks have recently plummeted, from CBS (down 32 percent from its high) to Spanish Broadcasting (down 96 percent).
Marketplace blogger Scott Jagow prescribes Sirius medicine: "Stop paying celebrities ridiculous salaries," he counsels. "If Howard Stern walks, so be it... Web and wireless radio is clearly where Sirius XM should turn its attention. And it may have to change its fee structure and many other things in an economic climate where people aren't buying cars let alone car radios."