By acquiring or making a significant equity investment in the new Sirius, Microsoft could establish a dominant position in the automobile environment. Such a venture would give the company an unmatched radio platform, in-car satellite TV capabilities and the future opportunity to deliver internet access and other value added services. Additionally, Microsoft would become the dominant internet radio company and could leverage the content provided by satellite radio to boost their Zune product, finally creating a viable competitor to Apple’s iPod.

http://seekingalpha.com/article/8280...n?source=yahoo

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I love these AAPL / MSFT combination stories that have been floating around for years. This author really makes sense. MSFT has a lot to gain by picking up Sat. Radio (Zune competes with iPod, expand Sync offerings)

A lot of people present the argument, "Why take on their debt when someone can scoop them up out of bankruptcy with a clean slate?"

1.) Immediate action is always better than waiting on something to happen
2.) A bankruptcy in the industry could devalue the consumer interest in the product and tag it as a "failed technology"
3.) For a huge company like MSFT, the accumulated debt of these two companies is meaningless. They hold more cash in their bank accounts.