Yes, but here I will make you feel even a little better. First the ARPU is actually about 10.78 and may go higher depending on how many deals SIRIXM is giving to keep some of their subscribers with them. Plus while many analyst think that in a year when the 3 years is up after the merger that SIRIXM will raise the price of a subscription. I dont think they will raise it that much if anything, SIRIXM already hit them with a fee that the analyst never saw coming in the first place. Then again the top subscriber was only hit with the fee and not both the fee and the increase rate like the family plans but I think they have raised the price enough and wont do it again for some time.
That is why a split maybe off the table for now but could be put back on after they start to make a profit. Some think that because it will make a profit look better (instead of a .01 profit per share they will have .10 profit per share). It is a magic trick, it is the same as a RS, it does nothing to the actual profit or your holdings, in the amount of how much it is worth.
Look at the bright side of this. I think it will be very possible that they may actually be that profitable well before they get to the point of having to buy back shares. Look if they can just buy most of that debt back they will then have another 300+ million in profit from not having to pay interest, alone. As an example: that latest debt buy back will save them 11 million already.
P.S. We have not even gotten into all the rest of the savings that are still out there and all the cuts still coming down the pike.