Karmazin Sells Off More Shares Of SiriusXM
May 21, 2012

The saga of SiriusXM's stock continues, as CEO Mel Karmazin has sold off 17 million more shares of the company. According to The Street, Karmazin sold 17 million of his options at $1.97 and $1.98 each, and still has 32 million shares in the satcaster. Karmazin sold off the shares early last week and made a profit of $21.31 million in the process.

The Street's Richard Saintvilus predicts that Karmazin will sell off another 10 million shares in approximately 30 days. Saintvilus predicts the satcaster's stock value will continue to fall in the coming weeks, expecting it "to get worse before it gets better" and reach a low of $1.65/share. As of 11:30 a.m. ET today, SIRI was trading at $1.89/share.

Meanwhile, Seeking Alpha says in a new column that the satcaster's very future "is highly in doubt, and in my opinion, kaput." In a new column, the site's analyst predicts that if the company doesn't go bankrupt, its stock price has been capped, thanks to the ongoing story of Karmazin selling his shares and Liberty Media acquiring more and more, as it seeks a majority shareholder position.

The complete Seeking Alpha analysis of Sirius XM's stocks can be found here.




 
Breaking News
Rodney on the Roq Ending After Over 4 Decades
iHeartMedia Names Kix Layton SVP/Programming For Greenville
PK's Throwback 105.5 Brings Old Skool Hip Hop And R&B To South Florida
iHeartMedia St. Louis Announces The Debut Of The New Majic 103.7
May 26, 2017
CBS Radio Promotes Shelly Easton and Bobby Smith in its Philly Cluster
iHeartMedia Names Brian Hall SVP of Programming for Ashville
Albie Dee Promoted To OM For Adams Radio Group, Salisbury/Ocean City, MD
May 24, 2017
RCA Records Promotes Joe Daddio To VP/Pop Promotion
iHeartMedia Names Rob Whiteside Digital PD For Virginia/Carolina Region
WBEN/Phiadelphia's Matt Cord & Kristen Herrman To Host National Dog Show Charity Walk
iHeartMedia Hartford Names Kelsey Maxon Digital PD
INSIGHTS: What Radio Can Learn from the TV Upfronts
Cumulus Media Adds Jay Philpott To Nights At KQRS/Minneapolis
Margaret Ann Ronayne NYC Memorial Service on June 8th
May 23, 2017
Beasley Media Group Unveils New Format Captains
iHeartMedia Austin Debuts New Spanish Top 40 Station TU 103.1
CBS Radio Officially Names John Farneda MD At WXRT/Chicago
In Brief - May 23, 2017
May 22, 2017
CBS Corporation Extends Chairman/President/CEO Les Moonves
KDMX (102.9 NOW)/Dallas Adds Kannon In Afternoon Drive
Entercom-Charlotte Signs Contract Extension with Matt & Ramona Show
May 19, 2017
Cumulus Media Oxnard/Ventura Names Matthew "Doughboy" Florence PD For KVYB
Westwood One Presents Backstage at the BBMAs
May 18, 2017
iHeartMedia St. Louis Names Maurice DeVoe PD For KMJM (100.3 The Beat)
Music News
Southern Rock Legend Gregg Allman Passes Away
The World Remembers Gregg Allman
Ariana Grande Releases Statement on Manchester Attack
Quick Hits: Guns N' Roses, Lana Del Rey, Nicki Minaj, Gorillaz, High & Low Festival
Fergie Signs Worldwide Partnership With BMG
Quick Hits: Ariana Grande, Leslie Jones, Jon Bon Jovi
22 Dead in Explosion at Manchester Ariana Grande Concert
Quick Hits: Iggy Azalea, Newport Folk Festival
It's a Sign of the Times: Harry Styles Debuts at #1
Drake Dominates Billboard Music Awards
Chris Cornell's Wife Issues Statement on His Death
Rocker Chris Cornell Dead at 52
The Entertainment World Remembers Chris Cornell
FMQB Photo Pass: Metallica
Katy Perry Announced as First Judge for American Idol Reboot
FMQB NOW

Nicki Farag,
SVP of Promotion,
Def Jam Recordings

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!