Sirius XM Ch. 11 Filing May Be Imminent

Law360 (February 13, 2009, 12:00 AM EST) -- Sirius XM Radio Inc. said Friday that it might have to file for bankruptcy as early as Tuesday if it cannot strike a deal to refinance some of its debt.

The struggling satellite radio company said in a statement that it had exchanged $172.5 million of its debt due in December for new debt due in 2011. However, the company still has about $175 million in debt coming due next week and is reportedly in negotiations with Liberty Media Corp. for a deal to refinance it....
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