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TaZMaNiaK
Guest
> hmmm where is Stern headed? who owns 25% of XM?
Are you seriously (no pun intended) implying that Sirius OWNS 25% of XM?!? Can you PLEASE pass me some of whatever you're smoking? 'Cause that must be some PRIMO sh*t! General Motors is the largest shareholder in XM, with (IIRC) 18%. Hughes Electronics, Delphi, and Hyundai are the other major shareholders. Another common misconception is that ClearChannel is a major player. Truth is, they USED to be, but sold their shares back, and currently own less than 1%.
Sirius is hemmoraging cash, giving every Tom, Dick, and Harry in Hollywood a radio show and a very generous contract, (Martha Stewart, Tony Hawk, Jim Breuer, Bam Margera, etc. etc. etc. are all huge names, but that doesn't mean they can do radio) without having the subscribership income to pay for it. Sirius is still posting increasing financial losses (meaning each quarter they slip deeper into debt), while XM is decreasing their losses (they are still posting losses, but they are at least going in the right direction). Also, even in light of Stern going to Sirius, XM is still posting several times more subs per quater than Sirius. Stern is not going to draw the kind of numbers that Sirius needs to pay for his contract.
If you have any doubt, look at the stock prices. Sirius stock is so diluted it will never be worth anything. Anyone who bought in at the IPO will NEVER make their money back.
Are you seriously (no pun intended) implying that Sirius OWNS 25% of XM?!? Can you PLEASE pass me some of whatever you're smoking? 'Cause that must be some PRIMO sh*t! General Motors is the largest shareholder in XM, with (IIRC) 18%. Hughes Electronics, Delphi, and Hyundai are the other major shareholders. Another common misconception is that ClearChannel is a major player. Truth is, they USED to be, but sold their shares back, and currently own less than 1%.
Sirius is hemmoraging cash, giving every Tom, Dick, and Harry in Hollywood a radio show and a very generous contract, (Martha Stewart, Tony Hawk, Jim Breuer, Bam Margera, etc. etc. etc. are all huge names, but that doesn't mean they can do radio) without having the subscribership income to pay for it. Sirius is still posting increasing financial losses (meaning each quarter they slip deeper into debt), while XM is decreasing their losses (they are still posting losses, but they are at least going in the right direction). Also, even in light of Stern going to Sirius, XM is still posting several times more subs per quater than Sirius. Stern is not going to draw the kind of numbers that Sirius needs to pay for his contract.
If you have any doubt, look at the stock prices. Sirius stock is so diluted it will never be worth anything. Anyone who bought in at the IPO will NEVER make their money back.