Saddled with heavy programming and equipment costs, Sirius XM hit significant challenges in trying to refinance its debts as the recession cut into auto sales and consumers spent less on services and electronics.
The satellite radio network apparently holds some promise for the satellite TV players who may want to use the infrastructure to deliver more content like Internet or mobile TV.
Sirius shares surged 6 cents, or 52.5%, to 16 cents.
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