Money | Sirius Under Pressure, Sirius XM Tries to Look Ahead Merged company works to develop subscribers, refinance debt By Jim O'Neill Posted Sep 15, 2008 11:45 AM CDT Copied In this Feb. 7, 2007 file photo, Sirius Satellite Radio Chief Executive Officer Mel Karmazin, center, talks with company president Scott Greenstein, right, in New York. (AP Photo/Mark Lennihan, File) Satellite radio’s fortunes—thought to be peaking after Sirius and XM merged in July—are falling as the united company’s stock continues to tumble and management scrambles to refinance debt, reports the Wall Street Journal. Still, CEO Mel Karmazin says, the company is “heading toward making a bunch of money in the future.” The new Sirius XM hopes to cash in during the holiday season, regaining its footing after a year of merger confusion that essentially stopped retail sales. The company is wooing retailers like Best Buy and Circuit City and may offer ex-subscribers a free taste of the new, combined service. And after he has Sirius XM's cash flow problems resolved, Karmazin says, he'd like to explore going private. Read These Next Minneapolis shooter had a plan—and grievances. The Air Force has changed its tune on Ashli Babbitt. Open that wallet big time for a trip to Disney, if you can afford it. A 'tense' clash with RFK Jr. led to CDC chief's trouble. Report an error