Sirius Satellite Radio Canada » SIRI

Mel Karmazin Lets Go of Massive Stock Amount

Reid — Wed, 20 May 2009 16:00:16 +0000

Sirius XM CEO Mel Karmazin has made news as his decision to voluntarily forfeit a large number of SIRI stock has reached the public domain and the attention of curious industry observers.

Karmazin relinquished personal stock as part of a Sirius XM business plan dating back to 2003. He and the satellite radio company plan to use the newly released shares in a larger move that seeks to “attract, motivate and retain key employees”.

The total number of SIRI shares let go of by Karmazin number at 30 million with 24 million having already been vested while 6 million more remain unclaimed.

[Via Orbitcast]

Investors May See Future in Sirius Shares

Reid — Fri, 03 Apr 2009 16:00:40 +0000

After a dreary year and an extremely close call with bankruptcy, industry observers are now beginning to speculate on a possible raise in the value of Sirius shares in the not-too-distant future.

Although the entire EchoStar/Ergen debacle has scared off some investors the appeal of Sirius XM Radio’s position as the sole satellite radio provider continues to make SIRI stock purchase somewhat desirable.

Financial writers are even finding reason to praise Karmazin’s ability to take the company out of the fire again and again, citing the shrewd Sirius XM leader as one of the positive attributes of the share’s safety.

[Via Contrarion Profits]

SIRI Shares Skyrocket After Liberty Agreement

Reid — Fri, 20 Feb 2009 20:49:43 +0000

As a possible sign that things may truly be improving for Sirius XM, the company has seen a massive increase in stock value for the business. After Liberty Media pumped a life-saving $530M into Sirius, Wall Street reacted with an impressive response.

Tuesday morning saw SIRI stock value increase by an astonishing 111% to 22 cents per share in direct reflection of the company’s positive financial status. More than 32 million shares were traded in the early morning, half of the usual, average per month amount of 65 million shares.

Things appear to be looking up for Sirius XM Radio, good news indeed for fans of the satellite radio giant.

[Via Radio & Records]

Sirus XM and Liberty Media Reach Agreement

Reid — Tue, 17 Feb 2009 16:21:26 +0000

After last week saw waves of press centring around the possible bankruptcy of Sirius XM Radio, a deal between the struggling satellite giant and Liberty Media began to surface. Now the two corporations have reached an agreement that will see Liberty gaining an equity stake in return for bailing Sirius out of its financial predicament.

Liberty Media has agreed to invest an aggregate amount of $530 million toward Sirius XM in exchange for the future return of the funds and 40 percent of SIRI common stock.

Industry observers continue to be impressed by the ingenuity and good fortune of Sirius XM CEO, Mel Karmazin, and, as evidenced here, it is certainly warranted.

[Via Orbitcast]