Big changes have come about for Sirius XM Radio as stockholders approved of a move which will see the company act on the idea of a reverse stock split in order to improve future financial possibilities.

Stockholders gave the go-ahead for the reverse stock split which would allow Sirius XM Radio to sell new shares and create an opportunity for substantial revenue growth.

The decision is necessary for the company which still owes somewhere close to $1 billion in loan repayments due by next year. Previous growth projections will have to contend with the massive debt payment necessary toward realistically achieving these goals.

[Via Bloomberg]