Howard Stern hit the jackpot when he moved satellite radio more than three years ago. He's pocketing $80 million a year and has received Sirius Satellite Radio stock worth roughly $200 million for meeting subscriber growth targets spelled out in his five-year contract.
Goldman Sachs offered an even gloomier forecast for XM and Sirius Thursday. Citing a dramatic slowdown in subscriber growth, high debt costs, refinancing pressure and a shrinking trend in revenue per customer, Goldman analyst Mark Wienkes cut his XM price target to $6.50 from $11.50 and reduced Sirius to $1.75 from $2.25. The $1.75 price on Sirius assumes the proposed merger with XM is approved - on a standalone basis, Wienkes values Sirius at $1.
The proposed merger of the nation's two satellite radio broadcasters -- bogged down in the regulatory process for over a year -- has cleared a major hurdle: The Federal Communications Commission chief is recommending approval of the $3.8 billion deal
Sirius Satellite Radio and XM Satellite Radio are one step closer to finally completing their merger. For investors and consumers, it can't happen soon enough.
Shares of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. rose Monday morning after the chairman of the Federal Communications Commission said the two satellite radio broadcasters should be allowed to combine.
Mel Karmazin has proven throughout his career that he's a world class salesman. But with the merger of the nation's two satellite radio broadcasters Sirius and XM nearing its once-improbable completion Karmazin has a real sales challenge: Convincing investors that there's a profitable future ahead for a medium that has conspicuously failed to turn a profit at any time since it was founded a decade ago.
On Monday, the Justice Department approved the $4.6 billon merger of Sirius Radio and XM Satellite Radio Holdings, the nation's only satellite radio providers.
The U.S. Justice Department approved the merger between satellite radio companies Sirius and XM Monday, more than a year after the two companies first announced their deal.
The merger of satellite radio services XM and Sirius, an improbable deal that stalled in Washington for a year, is now facing impending approval.
The Justice Department approved Sirius Satellite Radio's $5 billion buyout of rival XM Satellite Radio on Monday, saying the deal was unlikely to hurt competition or consumers
Howard Stern hit the jackpot when he moved satellite radio more than three years ago. He's pocketing $80 million a year and has received Sirius Satellite Radio stock worth roughly $200 million for meeting subscriber growth targets spelled out in his five-year contract.
Goldman Sachs offered an even gloomier forecast for XM and Sirius Thursday. Citing a dramatic slowdown in subscriber growth, high debt costs, refinancing pressure and a shrinking trend in revenue per customer, Goldman analyst Mark Wienkes cut his XM price target to $6.50 from $11.50 and reduced Sirius to $1.75 from $2.25. The $1.75 price on Sirius assumes the proposed merger with XM is approved - on a standalone basis, Wienkes values Sirius at $1.
The proposed merger of the nation's two satellite radio broadcasters -- bogged down in the regulatory process for over a year -- has cleared a major hurdle: The Federal Communications Commission chief is recommending approval of the $3.8 billion deal
Sirius Satellite Radio and XM Satellite Radio are one step closer to finally completing their merger. For investors and consumers, it can't happen soon enough.
Shares of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. rose Monday morning after the chairman of the Federal Communications Commission said the two satellite radio broadcasters should be allowed to combine.
Mel Karmazin has proven throughout his career that he's a world class salesman. But with the merger of the nation's two satellite radio broadcasters Sirius and XM nearing its once-improbable completion Karmazin has a real sales challenge: Convincing investors that there's a profitable future ahead for a medium that has conspicuously failed to turn a profit at any time since it was founded a decade ago.
On Monday, the Justice Department approved the $4.6 billon merger of Sirius Radio and XM Satellite Radio Holdings, the nation's only satellite radio providers.
The U.S. Justice Department approved the merger between satellite radio companies Sirius and XM Monday, more than a year after the two companies first announced their deal.
The merger of satellite radio services XM and Sirius, an improbable deal that stalled in Washington for a year, is now facing impending approval.
The Justice Department approved Sirius Satellite Radio's $5 billion buyout of rival XM Satellite Radio on Monday, saying the deal was unlikely to hurt competition or consumers
The stalled merger between satellite radio duo XM and Sirius has suddenly lurched into the unknown as Wall Street continues to wait for a verdict from regulators.
Happy Presidents' Day! Since the U.S. markets are closed, businesses don't usually make big announcements on this holiday.
Shareholders approved a deal Tuesday to allow Sirius Satellite Radio Inc. to acquire its rival XM Satellite Radio Holdings Inc. for about $5 billion
Have you heard the news? Small cars are cool again.
On his long commute to the office, George Doty snakes through Houston, Texas, accompanied only by the two satellite radios on the dashboard of his Chevrolet pickup truck and the hum of whatever he has playing.
The XpressR is Audiovox's top-of-the-line XM Satellite Radio receiver, providing a plethora of customizable settings not offered in entry-level units such as the Xpress and Xpress EZ.
XM Satellite Radio said on Tuesday that Hugh Panero, its chief executive and a company founder, will step down in August.
Satellite radio providers Sirius and XM said Monday they can offer consumers a variety of subscription packages that cost up to 46 percent less than current plans if their merger is approved.
Radio broadcaster Cumulus Media Inc. said Monday it agreed to a $1.3 billion buyout by an investor group led by Chief Executive Lewis Dickey and an affiliate of Merrill Lynch Global Private Equity.
It has been nearly five months since Sirius Satellite Radio and XM Satellite Radio announced plans to merge. But the likelihood of the deal passing regulatory muster is still highly uncertain, leaving investors in an uncomfortable state of limbo.
Digital-audio players are well on their way to becoming the de facto device for every listening scenario: in the car, at home, on the go and all the in-betweens.
Consumers and investors currently can choose between two satellite radio companies. And although Sirius Satellite Radio and XM Satellite Radio are hoping to change that, Wall Street appears to be betting that their merger is not going to get approved.
The National Music Publishers' Association (NMPA) filed a lawsuit against XM Satellite Radio Holdings Inc on Thursday for providing radios that allegedly let users reproduce and distribute copyrighted music without paying appropriate royalties.
Sirius Satellite Radio chief executive officer Mel Karmazin went to Capitol Hill Wednesday to tell Congress why his company's plan to merge with rival XM Satellite Radio should be approved by regulators.
The Dow ended at a record high Tuesday for the second straight session, as investors welcomed a merger in the satellite radio industry, strength in retail and gains in select tech shares.
The Dow ended at a record high Tuesday for the second straight session, as investors welcomed a merger in the satellite radio industry, strength in retail and gains in select tech shares.
The Nasdaq composite led a broader stock market advance Tuesday, as investors welcomed a merger in the satellite radio industry, strength in retail and gains in select tech shares.
The Nasdaq composite rose Tuesday afternoon, thanks to a merger in the satellite radio industry and gains in select tech stocks, but the Dow Jones industrial average struggled, after ending the previous session at a record high.
Stocks bounced back Tuesday afternoon, recovering from earlier declines as investors scooped up select tech shares and eyed lower oil prices, a merger in the satellite radio industry and earnings from a pair of Dow retailers.
Stocks edged lower Monday morning as investors eyed lower oil prices, a merger in the satellite radio industry and earnings from Dow retailers Wal-Mart Stores and Home Depot.
Stocks slipped Monday morning as investors considered lower oil prices, a pair of big mergers and earnings from Dow retailers Wal-Mart Stores and Home Depot.
The top executives from Sirius and XM took their first steps to reassure Wall Street Tuesday that a deal will pass muster with regulators - but investors appear to have doubts about whether the proposed merger will go through.
If Sirius Satellite Radio and XM Satellite Radio are allowed to go through with their plans to merge, there will only be one satellite radio network left in the U.S. But make no mistake: this would not constitute your classic monopoly.
The shortened trading week is expected to get off to a bumpy start Tuesday as investors focus on earnings from retailers Home Depot and Wal-Mart.
Rivals XM Satellite Radio Holdings Inc. and Sirius Satellite Radio are entering into a merger of equals that will create a satellite radio giant, the companies announced Monday.
The Nasdaq rose and the broader market edged higher Wednesday, as investors welcomed falling oil prices, upbeat earnings from Alcoa and a rally in the technology sector.
The chief executive officer of Sirius Satellite Radio told investors Wednesday that he would be open to a combination with his company's top rival, XM Satellite Radio.
The Nasdaq rose and the broader market edged higher Wednesday afternoon, as investors welcomed falling oil prices and a revived technology sector.
Stocks pushed a bit higher Wednesday afternoon as an Apple-led technology advance spread to the broader market.
Minivans and big SUVs are sometimes referred to as "living rooms on wheels." As entertainment technology improves, shrinks and becomes more portable, that expression is becoming more and more literal.
Satellite radio stocks have had a difficult time lifting off this year, while shares of the top two satellite television firms have soared to the stratosphere.
XM Satellite stock jumped Monday after the No. 1 satellite radio company sharply cut its losses in the most recent quarter.
Satellite radio operators XM Satellite Holdings and Sirius Satellite Radio may have to pony up more cash for the rights to play artists' songs on their various stations if a music industry group gets its way.
Sirius Satellite said Wednesday it added new subscribers at a rapid pace in the third quarter, helping it narrow the gap with its larger rival XM Satellite Radio.
Shares of XM Satellite may be languishing, but chairman Gary Parsons emphasized Wednesday the growth potential for the industry and company.
A long weekend is a great time to take your family on a road trip. Unfortunately, it's also a great time for everyone else to take their family on a road trip and there are only so many roads to go around.
Wireless telephone company Alltel and XM Satellite Radio announced a deal Thursday that allows Alltel's 11 million customers to listen to XM Satellite radio on their cell phones.
Summer was once a quiet time in the media world. "Things used to slow down," an ad agency honcho sighed the other day. "You used to be able to leave early on Friday afternoon." Not this year. While...
XM Satellite Radio has crashed and burned and now some are starting to wonder if the company could be a takeover target. Shares have plummeted more than 60 percent this year.
John Clay describes his job at XM in two words: "Radio heaven."
Sirius Satellite Radio Inc. Chief Executive Mel Karmazin said Monday he would like to buy archrival XM Satellite Radio Holdings Inc., but price and regulatory hurdles would be issues.
Look up in the sky! It's a bird. It's a plane! Nope. It's the two satellite radio stocks plunging from orbit!
Leslie Moonves has spent his entire career trying to get people to watch television. He's been pretty good at it too. When he was president of Warner Bros. Television in the early '90s, he oversaw ...
Leslie Moonves has spent his entire career trying to get people to watch television. He's been pretty good at it too. When he was president of Warner Bros. Television in the early '90s, he oversaw the development of hit shows like Friends and ER, which became part of NBC's Thursday night "Must-see TV" lineup. He leaped to CBS in 1995 and proceeded to break the Peacock network's hold on Thursday night with phenomenally popular shows like Survivor and CSI.
XM Satellite Radio and Oprah Winfrey's Harpo Radio have signed a three-year, $55 million deal to launch a channel featuring the popular talk show host, the companies said Thursday.
Satellite radio stocks are slowly descending back to earth this year, despite the presence of the radio industry's biggest star.
Nothing makes a long car ride longer than losing your radio signal in the fourth quarter of a tied ball game. And when the oldies station is cranking out hit after golden hit on a Saturday night, nothing sucks the life out of the party like 17 minutes of commercials. Even if you tune in and hear a great new song Monday morning, you can bet you'll be sick of it after you've heard it 37 times--and it isn't even lunch yet.
Stocks rallied for a fifth straight session Monday, as the Dow industrials crossed the 11,000 mark for the first time since 2001.
NEW YORK (CNNMoney.com) - He may be the self-professed King of All Media. But some on Wall Street are starting to wonder if Howard Stern really will be able to convince his loyal minions to pay to hear him.
Rock and folk music legend Bob Dylan has signed on with XM Satellite Radio as host of a weekly program.
ANYBODY COULD SEE THAT MEL KARMAZIN WAS miserable in his final days as Viacom's chief operating officer. The former Wall Street darling had struggled unsuccessfully to keep the company's stock alof...
Mel Karmazin was miserable in his final days as Viacom's chief operating officer. The former Wall Street darling had struggled unsuccessfully to keep the company's stock aloft, lost his power struggle with Viacom CEO Sumner Redstone and finally left Viacom in June 2004. But he has returned from the depths, and he's never been happier.
NEW YORK (CNN/Money) - Fans of a certain radio shock jock can rejoice.
With 30 percent of airtime on U.S. radio taken up with commercials, getting stuck in rush hour traffic can be torturous, especially if you are trying to find some decent music to listen to.
Consumers are increasingly frustrated by all the commercials they have to sit through when listening to the radio or watching TV and the ads they have to wade through when reading a magazine or newspaper.
Samsung Electronics Co. announced a partnership with XM Satellite Radio Tuesday and will offer the satellite radio service on a new MP3 player expected to be available by this December, according to a statement from the company.
Wherever Howard Stern is, rumors are never far behind.
Canada has granted broadcasting licenses to satellite radio rivals Sirius and XM Radio that carry strict stipulations about including Canadian content.
Sirius Satellite Radio claims on its Web site that not all radio is created equal.
Before my interview with Hugh Panero begins, XM Satellite Radio's CEO informs me that, no matter how relentlessly I pummel him, our session is bound to be a breeze compared with the grilling he's j...
A surprising number of Hyundai customers said they didn't want Sirius Satellite Radio installed in their vehicles because they objected to Howard Stern, according to an auto news Web site.
Combine the iPod with satellite radio and what do you get?
Martha Stewart Living Omnimedia and Sirius Satellite Radio announced Monday a joint venture to launch a lifestyle channel on the subscription-based radio service.
Cell phone carriers are looking to give satellite radio operators a run for their money.
Hyundai Motor Co. said Wednesday it plans to offer XM Satellite Radio as standard equipment on all U.S. models by 2007.
Sirius Satellite Radio is not ruling out a price increase for its basic subscription service in light of its arch rival's fee hike announced earlier this week, CEO Mel Karmazin told analysts Wednesday.
Sirius Satellite Radio will pay $107.5 million for the exclusive satellite rights to Nascar for five years, starting in 2007.
For most companies that make money from the music business, the past year has been one big party on Wall Street.
Howard Stern has been battling the Federal Communications Commission for years. Now the Securities and Exchange Commission has its own investigation revolving around the controversial radio shock jock.
Flamboyant rocker Sir Elton John will be getting plenty of frequent flier miles. Well, at least his face will.
Mel Karmazin, the new CEO of Sirius Satellite Radio, said he's talked recently with Apple Computer about adding satellite radio to its popular iPod music player.
The race among satellite radio operators to sign up big name celebrities heated up Wednesday when XM Satellite Radio announced it will soon add conservative talk show hosts Dr. Laura Schlesinger and G. Gordon Liddy to its programming lineup.
Satellite radio is the latest "buy what you know" stock phenomenon. As with Krispy Kreme in 2001 and the iPod-era Apple, shares in XM Satellite Radio (XMSR) and Sirius (SIRI) are zooming as more co...
Sirius Satellite Radio and XM Satellite Radio are holding preliminary talks on a possible merger, a newspaper said Wednesday, but Sirius CEO Mel Karmazin denied the report.
Ford Motor Co. plans to start having factory installation of Sirius satellite radios in 21 models starting this summer, the companies announced today.
It's that most wonderful -- or awful -- time of the year: time for me to take a look back at this column's stock picks.
The shock jock died Thursday on public radio.
The nation's No. 2 radio broadcaster is on the hunt to replace Howard Stern, who will jump to paid radio in just over a year.
SALEM, Ore. (CNN/Money) - On a recent morning, my husband and I drove three hours through the mountains, in a snowstorm, with two-year-old twins, a carsick puppy and no cell phone service.
Apple's mini iPod is expected to be a hot holiday pick this year but for gift-givers looking for other options, industry watchers say there are plenty of new gadgets that pack in the "must-have" appeal.
Howard Stern, the king of shock radio, complained on his morning program Thursday about his deteriorating relationship with his current employer and said he may leave the broadcaster soon.
The defection of Howard Stern, radio's biggest star, from Infinity Broadcasting to Sirius Satellite Radio may be remembered as the moment when a new medium crawled out of its chrysalis. It is also ...
The satellite radio business has been cranking up the volume these past few weeks.
Technology stocks posted solid gains on Monday as investors kept their hopes high on earnings from International Business Machines Corp., which reported after the bell.
Howard Stern picked a puzzling time to make good on his longstanding threat to defect to satellite radio -- he's still got more than a year left on his contract with Infinity Broadcasting, distributor of his morning talk show.
This is an update of a column that originally ran on September 30.
Howard Stern said Wednesday that he's taking his morning show to satellite radio -- a move sure to give the fledgling subscription radio business a huge shot in the arm.
Opie and Anthony return to radio Monday, but good luck finding them on the public airwaves.
If there were doubts about satellite radio's mass appeal, this year they disappeared. In January a mere 1.6 million people pulled down music and other entertainment from the sky. But by year's end,...
In an ugly market for techs, investors remain enchanted by satellite radio stocks.
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