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Items Tagged With: “Mel Karmazin”
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Sirius XM reports 21.9 million subscribers, expects 23.2 million by year-end
CEO Mel Karmazin is being "conservative" with his estimates, because of the January 1 price hike from $12.99 to $14.49 a month. Nonetheless, the satellite radio operator expects 1.3 million additions this year, on top of 1.7 million in 2011.
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Sirius XM tops 2011 subscriber guidance, adds 1.7 million new subs
Sirius XM CEO Mel Karmazin tells the Citi conference in San Francisco that in order to make the announced full-year guidance of 1.6 million net new subscribers, they needed to have a very strong fourth quarter. Today the company announces that it signed 540,000 new net subscribers in Q4.
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Sirius XM CEO Mel Karmazin addresses the rumors about a talkeover by Liberty
Karmazin admits it might happen: “They could call me and say ‘Mel, I love your company so much, I want to buy the whole company. [But] they haven’t called, and I don’t suspect they will.” For tax and other reasons, that takeover scenario becomes more likely next March.
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Q3 report: Sirius XM subscribers now top 21.3 million
Some analysts had expected more than 334,000 net subscriber additions in the latest quarter, but like the fact that the satellite radio operator's SAC (subscriber acquisition costs) are dropping. Sirius XM calls it "cost-efficient growth." The subscriber churn remained steady, around 1.9%.
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Sirius XM stock up on release of optimistic guidance for 2012 – and a price hike
It is now clear just how much subscribers will be paying as of January 1, 2012: $14.49 a month, compared to the $12.95 a month that has been standard for several years. As of the New Year, Sirius XM is free to raise its rates.
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Next up for Sirius XM – raising subscription rates in 2012
Fresh off the news that Sirius XM breached the 21 million subscriber mark, now comes word that it will cost more to listen to the satellite radio operator. Sirius XM Chief Executive Mel Karmazin said in his conference call that "We continue to believe it would be appropriate for us to increase our pricing to be able to continue investing in and del…
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Sirius XM sets a new high of 21 million subscribers, raises yearly guidance
The satellite radio service reports all-time highs in subscribers, quarterly revenue (up 6%) and adjusted EBITDA (up 20%). A confident CEO Mel Karmazin is even raising his guidance on the number of subscribers.
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Sirius XM gives CFO David Frear a raise, and more stock options
Frear's 2010 base salary was $750,000, and the new deal he just signed with Sirius XM Satellite Radio pegs it at $850,000, in a four-year deal that runs through July 2015. Last year, the EVP/Chief Financial Officer also made $1 million in bonus and was granted $1.6 million in stock options, for total compensation of $3,357,372.
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New shareholder lawsuit against Sirius XM wants Mel Karmazin fired
This suit comes just days after Sirius XM settled an earlier suit and agreed to pay $13 million in attorney and other fees, without admitting liability or the validity of the claims. This time, Robert Michael Shenk files in U.S.
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Sirius XM settles shareholder suit, agrees to hold off on price increases
Subscriber Carl Blessing had filed a suit against the satellite radio operator, alleging that it had improperly raised its "additional-radio" price from $6.99 to $8.99 a month; passed along the music royalty fee, starting two years after its merger; and had begun charging subscribers for access to the online stream. In today's SEC filing, Sirius XM… Read More
Former Sirius executive Joe Clayton is the new President/CEO of Dish Network
Clayton had already worked in consumer electronics with RCA, General Electric and Thomson before joining startup Sirius Satellite Radio in 2001, the year before it launched. He served its CEO from 2001 until 2004 and then Chairman (working with Mel Karmazin) from 2004 to 2008. Read More
Coming to SiriusXM later this year: new 2.0 technology, higher subscription fees
CEO Mel Karmazin tells analysts that the new 2.0 technology provides more channel capacity, and the company will use part of that to respond to requests from Hispanic car dealers for additional Spanish-language channels. Karmazin says "with 50 million Hispanics in the U.S., we see significant upside potential." The new 2.0 receivers will also featu… Read More
SiriusXM adds nearly 375,000 subscribers in first quarter
The net subscriber growth of 373,064 puts the New York-based satellite radio operator over 20.5 million subscribers (20,564,028) for the first time. That figure is up 9% from the 18.9 million subs of a year ago.
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Mel Karmazin made nearly $10 million from Sirius XM last year
Mel Karmazin's base salary for 2010, per an SEC filing, increased to $1.5 million from $1.25 million, and his yearly bonus increased to $8.4 million from $7 million for a total of $9.9 million in compensation. In addition, Karmazin also received $35.2 million in stock option awards, and there is a clause in his agreement that states if Karmazin is …
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Is Howard Stern getting a 3-day work week?
From today's TRI Newsletter: Howard Stern’s new cover-of-Rolling Stone interview has him saying this – “Right now my schedule is pretty much the same as it’s always been”, which is the live morning-drive shift on Monday through Thursday. Then Friday off.
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Sirius XM now reaches 20.2 million subscribers after "record" 2010
CEO Mel Karmazin reports net subscriber additions of 328,789 in the fourth quarter of last year, making the full-year gain over 1.4 million subscribers. The expense of getting those subscribers (SAC, or subscriber acquisition cost) dropped from $64 the previous year to $58, and churn improved from 2% to 1.9%.
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Sirius XM wants the freedom to raise its rates this Summer
Mel Karmazin's agreement with the FCC in mid-2008 was that basic rates wouldn't rise for three years after the merger of the only two satellite radio licensees, and now Bloomberg reports the New York-based satcaster wants "the ability to raise the subscription rate" after July 28. Last Thursday, it asked the Commission to let the freeze expire (to …
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The Howard Stern-is-leaving rumors get louder
From today's TRI Newsletter: One thing Sirius XM isn’t talking about is Howard Stern. One TRI reader says he’s had business with the satcaster recently and that “nobody’s talking about Howard. Read More
Sirius XM breaches the 20 million subscriber barrier
Calling it a "significant milestone," Sirius XM announces it has surpassed the 20 million mark in subscribers, a major achievement for the satellite radio operator. CEO Mel Karmazin says "We have added the last 10 million subscribers faster than the first 10 million -- despite a tremendously competitive environment -- representing a strong endorsem…
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Sirius XM promises "new shows, new celebrity hosts with fantastic appeal"
CEO Mel Karmazin reports the company's third quarter results today, with positive momentum on subscribers revenue, free cash flow and income per share. He also raises his full-year guidance adjusted EBITDA from $575 million to $600 million, and expects adjusted revenue to top $2.8 billion.
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