The Motley Fool Discussion Boards

Previous Page

Stocks S / Sirius XM Radio


Subject: on the day for SIRI Date:  2/22/2005  3:04 PM
Author:  reconair Number:  4094 of 10889

Sirius Satellite Conference Call Summary (SIRI) 5.63 -0.24 : -- Update -- Co states that NASCAR fans spend a lot of their time in automobiles which make them a natural target for co... states that NASCAR fans are loyal and sponsorships of the sport are well supported... will be an important driver of subs growth and advertising revs... NASCAR says XM Satellitte has done a good job, but states that they are looking toward the future and believe that they have the right partner in SIRI... SIRI is paying $107 mln over 5 years; substantially higher than XMSR offer; NASCAR spokesman says that was not the only reason behind the decision... revenue from advertising: SIRI not making projections available for today... SIRI agreement with NHL, co says that they will derive benefits or compensation for anything that they are paying for; not clear when coming back but will be extension of agreement so there would be no financial loss to SIRI... do not have an exact start date for 2007... co has no plans on raising the monthly subscriber fees... deal with Baseball and XMSR had no bearing on this move... co currently has 1.2 mln subs; guidance for 2005, was 2.5 mln; believes that they will have a 'very, very large audience base when NASCAR kicks in in 2007'... co does not see a need to do regional channels for sport... Mel's reaction to insider trading: believes that it does not involve anyone from SIRI or any of its officers; co notes that no employees or officer of the company have received a subpoena.

22-Feb-05 14:00 ET In Play Sirius Satellite: NASCAR selects Sirius as new home on satellite radio (SIRI) 5.73 -0.14 :
-- Update -- Co announces a 5-year agreement to give it North American satellite radio rights to broadcast NASCAR racing and events. Beginning in 2007, SIRI will broadcast all NASCAR Nextel Cup Series, NASCAR Busch Series, and NASCAR Craftsman Truck Series races live on a specially created, 24/7 NASCAR channel, and SIRI will be the only place on satellite radio to listen to NASCAR. As part of the agreement, SIRI will become the Official Satellite Radio Partner of NASCAR, with exclusive trademark and marketing rights, and the right to sell all advertising time on its NASCAR channel and during the race broadcasts. SIRI will pay NASCAR rights fees totaling $107.5 mln over the term of the agreement, with the highest payments in the final years of the term.

22-Feb-05 13:25 ET In Play Sirius Satellite: Hearing co announced conference call today at 2:15 regarding programming (SIRI) 5.72 -0.15 : -- Update --

22-Feb-05 06:15 ET In Play Sirius Satellite: Stern Guest Subpoenaed in Probe of Sirius -- AP (SIRI) 5.87 : A regular guest on Howard Stern's syndicated radio show said he will testify Wednesday in a probe of trading of Sirius Satellite Radio Inc. shares, which surged last fall when Stern announced he was moving his program to the company. Chaunce Hayden, who writes gossip and other celebrity news for Steppin' Out magazine, received a subpoena Thursday ordering him to appear before SEC investigators in New York to discuss "trading in securities of Sirius Satellite Radio." Hayden said Sunday that an SEC attorney who phoned him before the subpoena was issued asked about the reactions of Stern and his staff when Stern's move to Sirius was announced in October. Hayden told the New York Post that the SEC attorney described the probe as an investigation of insider trading. Hayden told The Associated Press on Sunday that he did not remember the conversation with the attorney clearly and could not say whether that description of it was accurate. Sirius shares soared almost 30 percent early on Oct. 6 when Stern announced the five-year, $500 million deal to move his program to Sirius beginning in 2006 when his contract with Infinity Broadcasting Corp. ends. Hayden said he never owned Sirius stock but had publicly predicted about two weeks before Stern's announcement that the shock jock would take his show to Sirius. He said he based that prediction on his own reporting rather than inside information.

Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us