During today's earnings call, Bear Stearns Analyst Robert Peck asked Mel Karmazin about what he felt was the "pulse" about the potential merger between XM and Sirius, and whether it's a feasible situation.
Mel Karmazin poignently responded that while there would be a "good amount of value creation" in the case of the merger, he really has nothing further to talk to about it.That's not to be taken as a positive, or a negative - just that there's nothing to say.
Karmazin continued:
"You should assume that we will be looking to kick their [XM's] ass, in the fourth quarter," Karmazin added, "...and they're looking to do the same to us. We are competitors."
Talk about not mincing words.
Hopefully that sends a clear message (to Jim Cramer particularly) that Sirius and XM are wholeheartedly locked in a battle for marketshare against each other.
Good to hear. I'm so tired of that stupid rumor. The government won't let it happen... unless one of them sells their spectrum and operations to another company to provide competition... but what sense would that make. Personally, I'm waiting for Google to buy XM. Seems like their advertising genius could be applied to a medium like satrad where low spot penetration is a selling feature...
It is so going to happen. Peck should have asked Mel why there has been no insider buying or selling for 6-7 months.
It's so very done.
Coming your way Q1-2007.
Mel is a " roll up " guy.
A merger is not out of the question from a governmental perspective, but it would be an uphill battle. For now, we really want both companies to do well -- if one were to tank, it will hurt the industry. Sure, I want XM to do better, but Sirius needs to survive as well.
As for Mel's comments...he's the one who praised the Stern deal as a great deal for Howard, but not such a great deal for Sirius (until he subsequently was hired).
Am I the only one who thinks this was an absolutely rude and unprofessional statement?
Mel is Jesus Christ reborn!
"As for Mel's comments...he's the one who praised the Stern deal as a great deal for Howard, but not such a great deal for Sirius (until he subsequently was hired)."
Uh yeah, because he saw the actual numbers which caused him to subsequently say, "we would have had to pay him MORE if he signed up today." He basically continued to say that he was glad that they tied him into a 5 year deal instead of a one year.
Anyone who thinks a merger isn't under discussions go back and read executive statements over the last 18 months.
We've gone from " I'd like to " and "We're not interested in our compttions specualtion " to " No comment" and I have nothing to say.
Sirius buys XM and goes to 7-8 on the news and 10-13 within 12 months of announcements.
Pockpie sees all... knows all.
This Sirius-XM merger--I would not like it. I have a complaint against Sirius for some bad business practices and I now have XM radio. If XM radio is bought out by Sirius, I would have to be old fashioned and return to listening to terrestrial radio stations instead of satellite.
What "bad business practices" are you talking about?
I am sorry I did not continue to keep up with the forums if that is what you call it but this page turned up as I was doing research on bad business practices as I think they are very prevalent in any competitive society. The bad business practice that I am talking about has something to do when you want to cancel your account. There is something in the contract about an early cancellation fee. I think I signed up for a year and there was something I did not like abput Sirius that they took off one of my favorite channels and I did not like it so I made up my mind I would not renew my subscription. When I cancelled the subscription, a charge of 75 dollars was added to my credit card. I complained about it to Sirius and made such a fuss and they refunded it. If I canceled within the one year period, then I have to pay the 75 dollar cancellation fee but this was outside the period. I say they were using some bad business practice. It very hard to explain some of these practices but whatever it was, there was a bad business practice involved. I had a similar situation when I rented storage space at one of those you-store-it type places and when I terminated my time there, I lost the security deposit because I think they fabricated some reason to keep it if that is how to explain it. That is an example of a bad business practice. Believe it, bad business practices are more prevalent than you think in this country and any where you have free enterprise.