Sirius XM Creditors Consider Ejecting Chief
Mel Karmazin
Sirius XM Radio chief executive Mel Karmazin may be removed from his post by creditors if the company files for bankruptcy instead of making a deal to remain operational, the Wall Street Journal reports. Among the satcaster’s options to stay afloat are making deals with either EchoStar or Liberty Media Corp. The New York-based Sirius XM is supposed to repay $175 million in bonds held by EchoStar Corp. by tomorrow’s (2/17) deadline, or bankruptcy could be imminent. Some reports say word on the outcome could come as early as today (2/16).
Sarah Skates has been a writer and editor in the music business since 2004. She is a longtime contributor to MusicRow.
Latest posts by Sarah Skates (see all)
Leave a Reply
Want to join the discussion?Feel free to contribute!