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While listening to the Howard Stern Show on Sirius/XM satellite radio. The CEO of Sirius/XM Mel Karmazin came in to discuss the XM-Sirius merger that almost didn’t happen. He spoke about how the FCC dragged it out too long. He believed that it wasn’t going happen until it actually was announced. He also stated that he thought the biggest thing behind the delay was Howard Stern himself. For those who are not aware of the history between Howard and the FCC, Stern has been under pressure from FCC for over 20 years because he has always pushed the envelope on comments made on his show.
Mel continued by saying that it’s no longer if satellite radio will make money, it’s now how much will they make. The only company that has more subscribers than Sirius/XM is Comcast. The merger creates efficiency and now enables us to make money. Sirius/XM has deals with every major car company. There are measures being taken as we speak in regards to permitting subscribers of each company to be able to get the both company’s channels. With major league baseball, NFL, NBA, and NASCAR they will get more subscribers by the day. Combined they now have 18 million subscribers.
The stock is down today to $1.59 in after market trading, but it won’t stay there for long. Sirius/XM has been losing money even up to their last earnings report. Give it some time before you get into this stock and watch what they’ll report the next quarter. I’ve traded Sirius stocks in the past, but got out shortly after the DOJ decision. After the next report I will look and get back in. I’ve been a subscriber of Sirius and I find it worth the $12.95 a month I pay just to not listen to commercials.

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One Response to “Sirius/XM (NASDAQ: SIRI)”

  1. Millie Wood says:

    Satellite Radio did not gain so much popularity as expected, maybe because of the reason that it is expensive.-:*

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