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
Triton Digital Announces New Advertising Platform for Live and On-Demand Broadcasters
In Brief - September 2, 2014
August 29, 2014
Louie Diaz Named PD At KLIF/Dallas
In Brief - August 29, 2014
The Week In Review: 8/24-8/29
August 28, 2014
NuVoodoo Releases Social Media Findings Of Ratings Prospect Study
T-Mobile's Music Freedom Expands With Six New Music Streaming Services
In Brief - August 28, 2014
August 27, 2014
STRATA Survey: Ad Agencies’ Interest In Digital Video Jumps 45% From A Year Ago
In Brief - August 27, 2014
August 26, 2014
Scott Carter Promoted To SVP/Marketing At Epic Records
CCM+E Nashville Debuts ALT 98.3
CBS Radio, Townsquare Media Partner To Create The Michigan News Newtwork
Stacey Thomas Appointed Director, Media Integration For CCM+E Philadelphia
In Brief - August 26, 2014
August 25, 2014
Lance Houston Named New PD Of Boston's 101.7 The Bull
In Brief - August 25, 2014
August 22, 2014
eQB NOW
The Week In Review: 8/18-8/22
Chris Edge Adds PD Duties At WDCG/Raleigh
SoundExchange Q2 Digital Radio Report Highlights Digital Radio Transformation
In Brief - August 22, 2014
August 21, 2014
NuVoodoo Ratings Prospect Study Reveals Broadcast Radio Beats Pandora For Music Satisfaction
Music News
Bicoastal Made In America Festival A Success
Usher Brings UR Experience to 27 Cities
Quick Hits: Taylor Swift / The Voice, Bastille, TV On The Radio, Atreyu, Faith No More, Haerts, New Order, George Harrison
MTV VMAs Spike Sales For Beyoncé and More
Quick Hits: Bruce Springsteen, John Legend, Shakira
The Week In Review: 8/24-8/29
Quick Hits: Chris Brown, Weezer, Miley Cyrus, Brandon Flowers, Paul McCartney, Bob Dylan
Wiz Khalifa Earns First #1 Album, Taylor Swift Debuts At #1 With New Single
Quick Hits: Ariana Grande, Kings of Leon, Lady Gaga, Neil Young
Usher Slowly Revealing Tour Plans
Quick Hits: Bad Boy Records, Ty Dolla $ign, Gerard Way, Bob Dylan
Beyoncé, Miley Cyrus Rule 2014 MTV VMAs
Slipknot Unmasks Details of The Gray Chapter
Quick Hits: Eminem & Shady Records, Ed Sheeran, Prince, Grouplove, Cobra Starship
Quick Hits: Jessie J, Foo Fighters, Mariah Carey & Nick Cannon, Genesis, Fall Out Boy
FMQB NOW

Jeff Sottolano
Director of Programming
CBS Radio

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!