My facts are correct if Sirius had been making money it would not have had to merge with XM Satellite companies don't merge with other companies if they're both doing well, they merge because neither one can survive if both keep battling it out and there were only two licenses given by the FCC for satellite radio, read the financial reports and news articles, All of those 6 million subscribers obviously didn't stay.
Please explain to me if Sirius XM was doing so great why did Liberty Media owner of DirecTV acquire 40% of Sirius XM, with rights to acquire another 11%?, because it was to keep Sirius XM from filing bankruptcy. It will also give Liberty Media a majority share of ownership in in the company if they option to buy the other remaining 11%, they invested 530 million to save Sirius XM. If Liberty Media hadn't stepped in, Sirius XM would have been transmitting dead air.
Sirius provided a budget of approximately $500 million to pay Stern, his staff, it also included an additional one-time stock bonus for Stern and his agent, as a subscriber quota set in 2004 was met, that bonus was worth approximately $218 million. The 530 million Liberty Media invested was a loan, and was used to pay debt, gee i wonder where most of that debt came from? Do the math, they were bleeding money, to pay for talent, they only have about 18 to 20 million subscribers, again do the math, those 18 to 20 million subscribers aren't paying enough to pay for Howard Stern, let alone any of the other talent they have, and they're still not out of the woods, and Howard Stern's contract is up at the end of this year, and he may not be around when it expires, and Sirius XM is still bleeding customers.
So you should get your facts straight.
http://www.nydailynews.com/entertainment/tv/2009/08/26/2009-08-26_howa rd_stern_still_poised_to_make_big_bucks_when_sirius_contract_expires.h tml
http://technologizer.com/2009/08/06/sirius-xm-still-shedding-customers -albeit-slower/
http://www.cnbc.com/id/29239722?__source=RSS*blog*&par=RSS
http://www.radioink.com/Article.asp?id=1202155&spid=24698#Scene_1
FYI a CEO of any company doing an interview says good things about their product offerings or service, it's their job to inspire confidence in their company.
I've never seen a CEO give an interview on television, a magazine, a newspaper or on the radio, saying we offer a crappy product or service.
Movies will make you famous; Television will make you rich; But theatre will make you good.
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