This doesn’t look good. The Times is reporting that Sirius XM, home to Opie and Anthony, “has been working with advisers to prepare for a possible bankruptcy filing.” Of course, that’s different from OH MY GOD THEY’RE GOING BANKRUPT RIGHT NOW, but it’s not a good sign.
The satrad company has been working with some fancy bankruptcy lawyers, and it’s possible that a Chapter 11 filing could happen in the next few days.
The Times also notes a subplot: this could be a ploy to get EchoStar, which recently bought a boatload of the company’s debt, to make a formal bid for the company.
I imagine we’ll be hearing about this as the night progresses.
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