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Originally posted by The Butler
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I may blast them on a regular basis and think they make shit decisions, but I'm glad they're doing well. -
Interesting take on Howard signing on for a few more years.
I have no insider information on this topic, but it seems to me overwhelmingly likely that Howard Stern’s marriage to Mel Karmazin at Sirius XM will continue for another few years.
Here’s why:
1. Less is More on Satellite Radio
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(Reuters) - Sirius XM Radio on Wednesday posted better-than expected quarterly revenue, citing a sharp jump in subscribers to its pay-radio service and customers' desire for premium programing.
The company, run by media industry veteran Mel Karmazin, nudged its full-year revenue estimate up to $2.8 billion from $2.7 billion, after it added 583,000 net subscribers in the second quarter.
Revenue in the second quarter rose 16 pct to $699.7 million, beating analysts' average estimate of $691.4 million, according to Thomson Reuters I/B/E/S.
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I'm pretty surprised to hear that really....
I mean the offering of equipment is pretty weak. I wonder how they will fare in the next quarter - which might reflect the slowing economy a bit more?CODComment
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Today during the Sirius XM Radio Inc. Q2 earnings call, CEO Mel Karmazin announced that they will be launching "Satellite Radio 2.0" in retail stores for the 2011 holiday season.
"Our next generation of satellite radios are expected to offer more choices for the consumer and contain functionality that does not exist today."
There were little specifics other than that the new satellite radio receivers are expected to be allowing for more channels and more capacity.
Sirius XM seemed very optimistic of the new initiative, adding that they will help to improve sales at the retail level.Comment
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From a transcript of the earnings conference call. This is Mel speaking:
Sirius XM is very committed to continue to innovate. Satellite radio was a great example of that innovation and satellite radio 2.0 where we believe take it to a new level. While we have been reducing costs and making the organization more efficient. We continue to invest in R&D.
Our next generation of satellite radios are expected to offer significantly more choices for the consumer and contain functionality that does not exist today in our radios. There will not be any significant increase in our costs, to bring these radios to consumers and we expect to have the first satellite radio 2.0 products in retail stores by the holiday season in the fourth quarter of 2011.
4th Qtr of 2011? I guess Mel is saying buy an XM radio now or wait a year. The link posted is a very long article.Member, National Sarcasm Society. Like we need your support.Comment
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Hopefully my Stiletto holds out a year, if I'm even still a sub by then. Which I probably will be, barring the complete lack of either Stern or Bubba.Originally posted by The Butler View PostFrom a transcript of the earnings conference call. This is Mel speaking:
4th Qtr of 2011? I guess Mel is saying buy an XM radio now or wait a year. The link posted is a very long article.Comment
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Sirius XM Chief Executive Mel Karmazin said he remains optimistic about signing a new deal to keep Howard Stern on the satellite radio service, but warned that should the shock jock bolt, some subscribers might leave with him.
Speaking at the Bank of America/Merrill Lynch Media, Communications & Entertainment Conference, Karmazin praised Stern, with whom he's worked closely for decades.
"He's been a fabulous partner ... he has enabled companies to make a lot of money," Karmazin said. Stern's current contract expires at the end of the year, and he has, as he always does when one of his deals is nearing expiration, been dropping hints on his show that it may be time to walk away. Karmazin said he doesn't want to negotiate in public with Stern, but he noted that Sirius XM has successfully renewed several high-profile contracts recently, including those with Oprah Winfrey and Martha Stewart, and that he is "very confident" about getting Stern to stick around.
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Originally posted by The Butler View Post
huh.... yesterday Stern was asked about the deal and howard said he didn't want to get into it and moved right along - my guess is talks have begunCODComment
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NEW YORK, Oct 13 (Reuters) - Sirius XM Radio Inc (SIRI.O) said on Wednesday that it added 334,727 subscribers in the third quarter of 2010, up sharply from 102,295 in the same period last year.
The company said it is on track to end the year with 20.1 million subscribers, the amount to which it had raised its forecast about two weeks ago.
The company also said that XM Satellite Radio, one of Sirius' units, will offer $550 million aggregate principal amount of senior notes due 2018. XM will use the proceeds of the offering in the repurchase of senior notes due 2012.Member, National Sarcasm Society. Like we need your support.Comment
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re-purchase of what?
notes?
wtf does that shit mean?
radios - how do they work?
CODComment
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Basically they are pushing some debt out 5 years with the hopes that the rate will be better later.
I think this is the first time I've seen separate numbers since the merger.
Between the two services, XM remains the larger player. XM's 10.2 million subscribers top the 9.6 million at Sirius -- but the gap continues to close. As long as Sirius doesn't lose Howard Stern in December, Sirius should overtake XM at some point next year.
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Sirius XM Radio Inc. is exploring programming alternatives in case the satellite broadcaster and talk-show host Howard Stern aren’t able to agree on a new contract, Chief Executive Officer Mel Karmazin said.
Stern, whose five-year, $500 million contract expires in December, is continuing to negotiate with the New York-based company and a resolution will come before the end of the year, Karmazin, 67, said in an interview yesterday. Sirius XM stations, such as Raw Dog Comedy and Playboy Radio, would help retain many of Stern’s listeners if he left, he said.
“There’s no deal,” Karmazin said. “The only announcement will be when there is a deal, or there’s not a deal. And I’m hopeful there will be a deal.”
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I don't trust karmezin for shitCODComment
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