Sirius Will Take ‘Noticeable Hit’ From Chrysler Bankruptcy

imageThe Chrysler bankruptcy is going to hit lots of companies hard, and high up on that list is Sirius XM (NSDQ: SIRI) Satellite Radio. Jim Meyer, the company’s President of Operations and Sales, said on the company’s earnings call today that the impact would start to be felt in the second quarter.

Retail is also suffering from bankruptcy, thanks to the liquidation of distribution partner Circuit City. CEO Mel Karmazin said the company hopes that initiatives like its upcoming iPhone app will “stimulate the market.” Meyer said he was confident the app would be launched during the second quarter. No word from the company on how its new $2.99 plan for online streaming is doing.