Tuesday, February 09, 2010
Advertisement:
What is RSS/XML?
Subscribe to FMQB News.

Would Mel Sell Sirius XM Radio?
August 6, 2008

In a new interview with the New York Times, Sirius XM CEO Mel Karmazin floats the idea that once the merged satcaster turns a profit, he could flip the company and sell it off. Karmazin says that his goal is to turn Sirius XM into a profitable company, which could happen in just a year or two, "then we can argue about what the company is worth."

Karmazin suggests that he could then sell off the satcaster once it is profitable. "I’m not a visionary; I’m an operator,” he told the Times. "And I’ve been a seller. The bankers all want the next transaction."

Discussing the upcoming cost cutting at the merged satcaster, Karmazin said he aims to cut approximately $400 million in annual costs and half-jokes that "When I became the CEO of CBS, the first thing I did was sell the artwork."

Karmazin also discussed the recently completed merger, saying that the outcry from terrestrial radio and the NAB against it was "the best thing that happened," because it proved his argument that satellite radio was indeed their competition.




 
Breaking News
WMG Takes Loss In Fiscal First Quarter
Katz: National Spot Radio Remains Strong
In Brief - February 9, 2010
FMQB FYI... Links You Should Know About
February 8, 2010
EMI Eyeing More Cuts?
Sixx Sense With Nikki Sixx Debuts Tonight
In Brief - February 8, 2010
February 5, 2010
e-QB NOW
The Week In Review: 2/1 - 2/5
Green Day, Chili Peppers Back Radio Royalties
Sony Music Revenue Up 2% In Fiscal Third Quarter
In Brief - February 5, 2010
FMQB FYI... Links You Should Know About
February 4, 2010
Citadel Files Reorganization Plan To Lower Debt
Karmazin & Stern Keep Posturing In Advance Of Negotiations
Terra Firma Seeking Cash To Cover EMI Debt
Media Institute Opposes Performance Rights Act
In Brief - February 4, 2010
February 3, 2010
StreamTheWorld To Unveil iPad Radio App
In Brief - February 3, 2010
February 2, 2010
FCC Commissioners Will Speak At 2010 NAB Show
Pandora Launches New Ad Revenue Initiative
In Brief - February 2, 2010
February 1, 2010
Bridge Ratings: Over 60 Million Americans Listen To Internet Radio
Music News
Reunited Limp Bizkit Tops Rock On The Range
Wyclef, Mary J. Blige Rock SOS Telethon
Quick Hits: Michael Jackson, The Who, Lady Gaga, 30 Seconds To Mars, Justin Timberlake, Bon Jovi, Ozzy Osbourne, The Gaslight Anthem
Bon Jovi Switching It Up On Circle Tour
Quick Hits: BET Haiti telethon, Michael Jackson, Aerosmith, Mary J. Blige, Green Day, Bruce Springsteen, Slash, Cobra Starship & 3OH!3, Taylor Swift, Pitchfork Festival
Shinedown Eyeing Soundtracks, Live DVD
Quick Hits: Weezer, The Strokes, Jill Scott, Radiohead, Elvis Costello, Uncle Cracker, Men At Work, Jay Reatard
Fall Out Boy Fall Apart
Charges To Be Filed In Michael Jackson Death?
Quick Hits: Album sales, BET's Haiti Telethon, The Who, Them Crooked Vultures, Rob Zombie, Santana, Usher, Ringo Starr, Keith Richards, The Dead Weather, Bonnaroo, The Specials, Jet
"We Are The World" Remake Recorded
Ozzy, Chris Cornell Rock With Slash
Quick Hits: Jack Johnson, Oscars, Glastonbury Festival, Flobots, Garbage, Trent Reznor
Beyoncé Scoops Up Six Grammys
Neil Young, Barbra Streisand Honored At Grammy Galas
FMQB Now

A2IM President
Rich Bengloff

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!