Suddenly, Sirius XM is a hot date


Sirius XM Satellite Radio Inc. (NASDAQ: SIRI) has reportedly gotten buyout overtures from DirecTV Group Inc. (NASDAQ: DTV) and EchoStar Corp. (NASDAQ: DISH). This sudden interest in an unprofitable company whose product has an uncertain future is a bit surprising.

Bloomberg News and other media outlets are reporting that DirecTV, the largest satellite TV provider, is in talks with Sirius about a deal. Meanwhile, EchoStar, which is controlled by media tycoon John Mallone, is snapping up Sirius debt. DirecTV is run by Charles Ergen. If these deals fail, the New York-based company is almost certain to file for Chapter 11 bankruptcy.