More smoke, mirrors and bullshit. This is one stock I'm sorry I ever heard of. Mel and Parsons continue to blow fluff.

From missed numbers to missed dates to delays to backpeddeling.... satrad isn't viable, profitable or sustainable.

This is just another brick in the wall and a classic example of over-promising and miscalculation.

The only thing that I read from this is that the merger annoucement won't likely happen during the next three weeks otherwise they would have held to the original May 20th meeting date.

This is a GOOD sign.

Why else would they delay? Because they will be ONE by the 20th. This merger is FINALLY about to be approved.

Well, this is interesting if you think about it. This was not cooincidence that they both announced this at the exact same time. No need for two meetings with a merged company. Done Deal.

"The only thing that I read from this is that the merger annoucement won't likely happen during the next three weeks otherwise they would have held to the original May 20th meeting date."

There was not one date, but two set. Sirius on the 20th and XM on the 23rd. They coordinated to cancel each at the same time. They need to get a new date becasue the entire agenda is now changed due to merger. It is coming VERY SOON

THIS IS A RESULT OF THE POLITCAL JIHADISTS THAT ARE TRYING TO LYNCH THESE TWO COMPANIES.....MY ATTORNEYS WANT TO SUE THE SHIT OUT OF THESE FUCKIN ASSHOLES......MARTIN IS TO THE FCC WHAT BROWNY WAS TO FEMA!

if you read the article it only talks about Sirius and does not say anything about XM

Maybe they are both waiting to say that the deal is off, since it's pretty apparent by now that the "fix is in" at the FCC. Patrick, I love your Martin/Brown analogy! That about sums it up.

"This is just another brick in the wall and a classic example of over-promising and miscalculation."

I disagree, they aren't hiding their financials because of some deathblow, they are finally using some leverage and saying, 'Look, this has gone on way too long its May already, and to show you that we expect this to finally be resolved quickly, I'm going to throw out a PR delaying our quarterly results to draw more attention so that the public sees how slow this decision has been'.

At this point, who knows? Satellite Radio seemed like a good idea. I think we can all agree that people would pay for non-commercial driven radio. I guess the NAB has showed how evil it can be.

Coward,

With a reply like yours you must work in the "spin" department for Sirius or XM.... you spew the same kind of crap that they have for 8 years!

BACKSEAT VIDEO....... 50 MILLION SUBS..... CFBE by 4.5 million!!!!!!!!!

it's all crap and you know it.... they both had shitty quarters with loads of churn. They hope to mask these misses with something jolly..... SSDD.

FCC is in ANALYSIS PARALYSIS

ANALYSIS

1: separation of a whole into its component parts

PARALYSIS

1 : loss of the ability to move
2 : a state of powerlessness or incapacity to act

they're postponing because they know their financials are crap and w/out the good news of the merger share price will drop 50%..

Patience. Wait for the other shoe to drop. Did you notice that both XM and SIRIUS didn't announce about a merger agreement extension? Hmm? They only have 2 days left before their agreement expires. The fact that they didn't release an extension announcement as well as the shareholder meeting delay...may mean that an APPROVAL announcement is coming today or tomorrow. IMHO. :-)

I wonder if they will also announce a second extension of their agreement to merge; the deadline is May 1st. They might do that tomorrow. That would be two days in a row of delay news to throw light on the FCC dragging this out beyond reason. Maybe this is a strategic move by Mel to put pressure on the FCC. The previous stockholder meeting date was May 20, so with the FCC announcement that they would not be voting on the merger in the May 14 meeting, Mel revised his meeting plans and did the press release. Apparently there has been no guidance on merger approval inside Mel's camp or they would not have announced a stockholder meeting delay.

I agree with Melman. Bad financial reports from either would make the share price drop on both. It would cause investors to give up on this stock, especially with no merger approval in the can. So this was a good strategic move to protect investors, for now.

Regan, you may be right, but then again, they did say in their PR that they were waiting for more information on a merger date. Also, if they announced an extension AND a reschedule in the same PR, it might make the stock take a tumble. "Bad" news should come in increments if you are trying to keep your head above water.

Mike P:

As I haven't been an investor in satellite radio for 8 years, I find it funny when all people can reference is the fact that "this used to be a $60 ($9) dollar stock now look where it is your loooooooosers". You are the same scum that inhabits the Yahoo message boards.

I mentioned nothing about backseat video, cash break even, or the subscriptions. All I said was, this is obviously a pressure tactic from Mel. Last quarter they decided not to give guidance, cause the merger changes everything aspect of their business. This time around, they are pushing the meeting back until they have an idea of when this thing might be resolved, again, because the merger is going to change every aspect of their business going forward.

I don't think they are worried about the stock taking a "tumble"...my god...it's down so much from this merger delay that it doesn't really matter at this point. So I personally don't feel they are walking on eggshells.

I still feel this is a good sign. Again...we shall see. They only have today and tomorrow to announce an agreement to merge extension.

No Deal-
The AP mentions both companies. XM's meeting was scheduled for Friday. That WOULD have been the first wave of bad news (without) a merged company. It makes sense for XM to postpone, pending merger date information. If the merger goes thru, XM doesn't have to report at all. That's even better. Since Sirius is the buyer, it makes sense for them to announce a postponement as well.

is howie on vacation this week.
being he has the most sirius stock it would make sense to postpone until he can attend

yeah, freakin' right. they are postponing just for Howard. gimme a break.

Anonymous Coward said:
>>>I'm going to throw out a PR delaying our quarterly results to draw more attention so that the public sees how slow this decision has been'.

Melman said:
>>>they're postponing because they know their financials are crap and w/out the good news of the merger share price will drop 50%..

----

FWIW, quarterly earnings and shareholder meetings are not the same thing... as shareholders, I hope you all know/understand the difference.

They did not and are not delaying their financial results -- because they've never announced a date to release them yet in the first place. What they have announced -- and now delayed -- is their shareholder meetings. You don't announce financial results at shareholder meetings. Haven't any of you ever been to one?

XM and Sirius are Large Accelerated Filers with the SEC. This requires them to file their quarterly results (Form 10-Q) with the SEC, no later than 40 days after the end of the quarter. Their First Quarter ended March 31st. This gives them until May 10th to file their 10-Q's... so this obviously means that XM and Sirius must release their financials (by way of the 10-Q's) by next Friday. Which means (IMHO) that they will likely have a Conference Call (either separately as two separate companies or jointly as a merged entity), plus release their financials AND file their 10-Q's some time in the next 8 business days. They must minimally file their 10-Q's by then.

Their shareholder meetings are something completely different -- the only SEC requirement with them is that they must release compensation information for Directors and Executive Management... so both will do this by including the info in an amended 10-K, that will be filed today with the SEC. Typically, compensation information is inlcuded in Proxy Statements sent to shareholders, prior to shareholder meetings. Since the meetings are now delayed -- XM and Sirius must still get the info out there... thus they are including it in an amended 10-K.

I hope this clears up the confusion over releasing the financial results from Q1 and their shareholder meetings. Which BTW, XM stated previously in the beginning of the quarter that they would likely hold off the announcement of earnings for the quarter until after the merger -- or as late as possible. That date is here next Friday. There is no new news here, other than the delay of the meeting.

-

My guess (assuming no news from the FCC between now and next week) -- is that Sirius will hold their CC and release their financials next Tuesday and XM will do the same next Thursday. And that both will file their 10-Q's that same day -- if not, then by next Friday.

And now that they're filing amended 10-K's with Director/Executive compensation information -- I expect them both to delay the shareholder meetings indefinately... until after the merger is closed, denied, being negotiated -- or the FCC decision is challenged in Court.

TIme to build more cars so they can count those as subs also.

Ron and Fez Noon til 3ish.

Thanks for clearing that up Homer. good job.

Homer
thanks for the clarification. i guess we can expect that Sirius and XM have already made a second merger agreement extension and just haven't announced it yet? The first one expires May 1st, in two days. i don't see this merger deal getting done until late summer. if the FCC is attempting a pocket veto or supposedly sabotage by proxy, delay is the name of the game - through both companies earnings calls (which XM's will be still negative) and continued pressure keeping them in marketing and operations limbo. i wonder how much sleep Mel K. gets? I bet not much.

I wholeheartedly agree with those who believe that the delay in the meeting was calculated to hide the sub-par (even by satrad standards) financial and execution performance of these entities. I think it is shameful on the part of management to delay releasing the financials - a delay means to me that they're not good.

These compa ies need to operate as individual entities until they are told otherwise. As public companies they are obligated to release financial results so that there is transparancy in the system.

I am incensed at the way management believes that this is "THEIR" company. It is not.

Shame on XM and Sirius - not for doing a bad job at running your businesses, but for not having the decency to lay your cards on the table and say this is waht we did.

A pox on both their houses.

Apparently this last anonymous coward wasnt paying attention to the previous few posts. There is no delay in the release of the earnings dumbass.

Have you seen an announced date for the release of the Q1 results? If so, please enlighten me and tell me when that date is.

I've been to three of these meetings as a shareholder and watched each time as the company management pushes out bs "forward looking statements" that mean nothing, and a year later they push out more. The conference call should have been announced by now - it hasn't.

My bet is that they will not put anything out re: their financial performance.

Quit being an apologist for these bums.

What did homer's post say? Did you even read it?

It said that xm and sirius have to release their numbers by the end of next week.

So where's the delay? Because they're waiting until next week is your problem?

Get over it.

Well.... no matter how nice of an excuse we can make, there has never been a quarter prior that was so late in providing subs and financials. Spin it as you will, bit the numbers suck and both companies are trying to hide the pooh with good news (hopefully)

Hey... did you see where Nate got 5.0 million to watch XM go down the drain. Add that to the 45-55 million Panero got for fucking up, and you're talking about professional malfeasance.

Maybe Nate and Parsons should work for the FCC where non-results are rewarded?

You guys thought that they are delaying 1stQ results??
Where did you get that from?
Anyway, The only question here is WHY DID THEY HAVE TO COME OUT WITH SUCH A DELAY TODAY WHEN THEIR FINANCIAL RESULTS ARE COMING OUT SOON.
They could have just inform shareholders during the CC.

ABOUT THE EXTENSION, THEY WILL ONLY SAY THIS THE LAST DAY AND I BELIEVE THAT THE NEXT EXTENSION WILL BE GIVING THE FCC A MONTH MORE. WHICH MEANS IT GOES UNTIL JUNE 1ST.
The FCC is trying hard to make this hard for the companies.

IT IS IRONIC TO SAY THE LEAST BECAUSE THE DOJ FOUND THAT THIS DEAL IS NOT ANTI-COMPETITIVE

Tigerman said:
>>>The only question here is WHY DID THEY HAVE TO COME OUT WITH SUCH A DELAY TODAY WHEN THEIR FINANCIAL RESULTS ARE COMING OUT SOON.

Tigerman -- According to SEC regulations, a Proxy Statement must be filed with the SEC within 120 days of the close of the fiscal year, giving the compensation and employment information for all Directors and Executives of the company.

Both XM and Sirius' fiscal years closed on 12/31/07... today is the 120th day since the close of their fiscal years. That means that XM and Sirius must file a Proxy Statement with the SEC, containing the Part III information (which is the compensation/employment info) by today. Furthermore, XM has no intention of holding a Annual Meeting if the merger goes through -- since they would be a subsidiary of Sirius. So they would like to delay the release of the Proxy for as long as they can; why put one out with proposals for 2008/9, when they would become null and void in the event of the merger closing? The Proxy Statement that will go out to BOTH sets of shareholders would change drastically if the merger is closed -- so the need to delay filing it as long as possible is needed.

However, they still needed to file the Part III information by today -- so XM and Sirius amended their 10-K's to include this required information and filed them this afternoon... on the 120th day. They stated in the amended filing that they would be holding off releasing the Proxy Statement indefinately until the merger is decided.

I added in my previous post that XM and Sirius have 40 days from the close of Q1 to release their financial results -- that still stands. They have until next Friday to file their respective 10-Q's. So I expect to see/hear results next week. I think people are making way too big a deal out of nothing... the numbers for both are gonna suck, that's nothing new. When have they never sucked? Delaying the release of them until the final week only makes sense -- when your a lame duck. Any time these guys say anything, it's seen as negative. At least with a closed merger -- they have some positive news to make up for sucky numbers... that part I do agree with. But I still think posters are making too big a deal here. Other than waiting until the final week to release financials -- everything else has been done in accordance to SEC regs.

---

All this damn jumping through hoops. Sirius and XM are being slow-roasted over an open fire built by the FCC; a cookout weighted heavy with NAB cannibals and Georgetown Partners party crashers. Will this go down as the longest merger acquisition in history or is there another one out there?

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