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Items Tagged With: “Mel Karmazin”
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Mel Karmazin discusses possible takeover scenario at SiriusXM meeting
Liberty Media, which came to Karmazin's rescue in 2009, may now be thinking about capturing the smaller company. At Tuesday's annual shareholders meeting, they asked the CEO questions about it.
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With Sirius XM annual shareholders meet looming, Karmazin unloads 13.7M shares
Sirius XM disclosed three months ago that CEO Mel Karmazin would be selling some stock options as "part of (his) strategy for financial planning in connection with his philanthropic efforts.” That was before large Sirius XM shareholder Liberty Media began buying even more stock. Its recent stock purchases have moved the investor closer to the 50%-p…
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Liberty Media pays $128 million to raise its stake in SiriusXM to 46.2%
SiriusXM discloses in an SEC filing that John Malone and Greg Maffei at Liberty Media bought another 60 million shares on Tuesday and Wednesday. That raises Liberty's stake from 45.2% to 46.2%, as questions grow about Liberty's intentions.
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SiriusXM gets a breather: The FCC rejects an application from 40% owner Liberty
In late March, John Malone-run Liberty filed for recognition of what it termed "de facto control" over America's only satellite radio operator. That was based on the passing of the three-year anniversary of its $530 million loan to SiriusXM, as it entered a period when the tax consequences of taking ownership would be more favorable.
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SiriusXM hits 22.3 million subscribers in Q1, helped by car sales
What the satellite radio operator calls "self-pay net subscriber additions" grew about 300,000 in the first quarter, and "total paid and unpaid trial inventory" reached 5.7 million. CEO Mel Karmazin says for the full year, "we continue to expect record revenue, adjusted EBITDA and free cash flow, and our subscriber base will also finish this year a…
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Sirius XM Chief Mel Karmazin padded his wallet with $10.7 million in 2011
On April 4, Sirius XM chief Mel Karmazin postured to Forbes magazine that he is “one of the most underpaid executives in history." Now the tally of his 2011 compensation is in—and you can judge for yourself. In total, Mel took in a bounty of $10.7 million.
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Sirius XM stock climbs to its highest point since the 2008 merger
The speculation about what Liberty Media's John Malone intends to do with his 40% minority stake and claimed “de facto control” of the nation’s only satellite radio company has investors following the stock even more closely than before. Monday’s volume was nearly three times the daily average, and the closing price of $2.40 a share was higher than… Read More
Sirius XM faces a new challenge, from major stockholder Liberty Media
Liberty Media, which has held about 40% of Sirius XM since it helped rescue the company with a cash infusion three years ago, asks the FCC to approve its application for de facto control. John Malone's intention is unclear. Read More
Sirius XM sues SoundExchange, alleging an "illegal boycott"
The federal suit filed in the Southern District of New York alleges
"tortious interference" that has produced "an industry-wide conspiracy
to boycott and tortiously interfere" with the company's attempts to negotiate directly with some record labels. The satellite radio operator alleges "a boycott" led by
clearinghouse SoundExchange, and cond…
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Three more insiders at Sirius XM cash in options
From today's TRI Newsletter: Last Friday, Sirius EVP and Chief Administrative Officer Dara Altman exercised options on close to 1.1 million shares and sold them for $2.16 each. President/Operations & Sales Jim Meyer got slightly less per share - $2.09 - when he sold over seven million shares on Thursday. Read More
Forbes checks the options of Sirius XM CEO Mel Karmazin
From today's TRI Newsletter: Analyst Joan Lappin of Gramercy Capital explains why March 2012 could be such a critical time for Sirius and its 40% investor, John Malone at Liberty Media. Writing in Forbes, Lappin says “Malone lives his corporate life doing anything he can to avoid paying taxes.” It was March 2009 when John Malone played the white kn…
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Sirius XM CEO Mel Karmazin gets philanthropic
Karmazin has nearly 130 million unexercised options to buy Sirius stock, and the company announces that he plans to begin selling 60 million of those shares in April. That will be "part of Mr.
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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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