SIRIUS XM SATELLITE RADIO NEWS

Sirius Buzz radio is back with another weekly segment on the subject of satellite radio. There is a lot to cover this week, and we have expanded the show to a full hour each Thursday night from 10:30 to 11:30 PM Eastern time. This weeks show will feature a segment that investors will not want to miss. Also featured will be discussion on the merger extension, the yet to be announced conference calls, and of course the PENDING FCC decision.

If you missed our previous shows they are all available at Sirius Buzz Radio. You can catch up on what you have missed, and get in tuned with regular Thursday night listening. Callers are encouraged to participate by dialing 347-945-7995.

Tune in, spread the word, and give the show a call. Don’t forget the live chat room, to leave comments, and rate the show. Sirius Buzz Radio - Thursdays at 10:30 PM Eastern.

Position - Long Sirius, Long XM

In an interesting move, Sirius and XM have extended their merger deal for two weeks. The extension was fully anticipated, but there is the added function of a rolling two week cycle which means that unless either party notifies, that the deal extension will be automatic.

XM Satellite Radio (Nasdaq: XMSR - News) and SIRIUS Satellite Radio (Nasdaq: SIRI - News) today announced that the companies have agreed not to exercise their rights to terminate the Merger Agreement prior to May 15, 2008. SIRIUS and XM also announced that they have agreed to further extend the merger agreement, as necessary, for rolling two week periods unless either side notifies the other of its intention not to extend.

The closing of the pending merger remains subject to the approval from the Federal Communications Commission and satisfaction of all other applicable conditions. On March 24, 2008, the U.S. Department of Justice informed SIRIUS and XM that it ended its investigation into the pending merger, that it has concluded that the merger is not anti-competitive, and that it will allow the transaction to proceed. SIRIUS and XM each obtained stockholder approval for the pending merger in November 2007. For more information on the SIRIUS-XM merger, please visit www.XMmerger.com or www.SIRIUSmerger.com.

Position - Long Sirius, Long XM

Today it was learned that the news we have all been waiting for is upon us. Sirius and Riley Martin have come to terms on a six month agreement so that the popular Riley Martin Radio Show on Howard 101 will continue. Three weeks of reruns have been aired leaving subscribers embroiled in a mystery as to whether Riley would still be on the air. Howard stern answered the question this morning by informing listeners that indeed the Riley Martin Show would continue.

Martin, called into the show and confirmed the news in a riveting way that had listeners pulling to the side of the road so that they did not miss one utterance of Martin. While the news has been well received by Martin fans, there will be no new broadcasts until the documentation of the contract is executed. We have heard rumor that Sirius’ Tim Sabien is not taking issue with the per show value of the contract, but wanted to get a new Biavian symbol issued to 12 of his closest friends at a discount. Riley, ever the staunch negotiator held firm to his price of $38.50 per symbol, but did say that if Stern gave him a live appearance on his show, that Riley would go ahead and forward the symbols. now that the live appearance is complete, fans can look forward to the Return of Riley Martin to the Howard Stern line-up.

Seriously though……Riley Martin is staying with Sirius to share his alien experiences with listeners. While this may not be the news you were looking for and hoping for, it is a story none the less. With everything else PENDING, it is good to report on something that has been accomplished.

Position - Long Sirius, Long XM

Howard Stern has been nominated for the Radio Hall of Fame. In most cases the nominees take such news with reverence, and are excited to be recognized. This was not at all the case for Howard Stern. Yesterday he stated that after all of the years he has been in this business, ad all of the things he has brought to radio, why NOW would he be nominated. Howard’s take on the situation seems to be a cross between arrogance, and being perturbed.

Howard has done a lot for radio. Anyone who wants to speak truthfully about it will acknowledge this. But…as a “bad boy” of radio, he has never really gotten the credit he deserves from the “serious” side of radio. The fact that over two decades has passed and it is only now that he garners such a nomination would be a bit insulting given the level of his commitment to the medium and his influence and success.

Setting all of that aside, Howard actually stated that he would prefer to not be nominated, and that he wants nothing to do with the radio hall of fame. In fact, he went so far as to say that he would not participate even if the paid him a million dollars, and then told the Radio Hall of fame to suck his d*ck!!!

So, is Howard really this dissatisfied with the radio hall of Fame, or will his stance even matter? Voting for the nominees will be conducted on line, and run from May 1, 2008 through June 15, 2008. Because of who he is, Howard may just win the vote anyway. His fans tend to be active on the net, and he carries more of a presence than other nominees which include:

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Pending. It is a fitting word for Sirius and XM. The merger is pending. Annual meetings will be held pending a decision on the pending merger. The FCC decision is pending while investors wait on the pending merger and the pending annual meetings. Investors are waiting for pending news on the merger so that they can receive the pending guidance from the company on the outlook of satellite radio going forward. There is so much pending in SDARS that Sirius or XM should trademark the name.

The latest in the pending column is the extension of the merger agreement between Sirius and XM. Once again, pending news has people considering many things as it relates to the sector. One thing in my opinion is certain. The pending decision regarding the merger deal extension will be an extension of the deal at the current terms.

With DOJ approval in the bag, a shareholder vote that has already approved the deal, and what is anticipated to be an imminent decision, the only real choice these companies have is to continue the course or walk away, and walking away is not a realistic option.

Some invested in one equity or the other feel that the company they are invested in should have gotten a better deal. I have seen arguments on both sides of this issue. My opinion is that this deal came to a point where neither party (XM or Sirius) outright won or outright lost. The deal was about as “fair” as it could be. One has better retail presence, the other has longer term OEM deals. One has Strern, the other says only for a couple of years. One has the NFL, and the other MLB. Each accuse the other of overspending. One has higher debt, the other has future capex costs that will become debt. One has newer satellites, the other has Mel Karmazin. The arguments could go on all day, and in many ways the arguments are quite subjective. In the end, we have two companies that will merge, create synergies, and take the sector from losses to profits.

Thus, while the deal extension news is PENDING, investors should consider that there is only one real course of action that will be taken. They will extend the deal as it is currently constituted. Plain and simple. No renegotiation, no new shareholder vote, no real fanfare. The only real answer is obvious, and when it is announced, at least we can remove one pending from the situation.

Position - Long Sirius, Long XM

I have always liked Jay Thomas. From television roles including Remo on Mork and Mindy, to Eddie LeBeck on Cheers, to movie roles in Married People, and the Santa Clause movies series, to appearances on Letterman, to his current role as a talk show host on Sirius Satellite Radio. Jay is what radio should be.

Jay Thomas is a persons person. He has knowledge, humor, and a delivery that simply makes him likable. On radio he is fun while at the same time a bit edgy. He is not afraid to talk up even what might seem the most off the wall subject, and he always strives to deliver a good show to the audience. Simply stated, Jay Thomas is a breath of freshness and fun on the Sirius channel line-up.

The Jay Thomas Show is based on the Sirius Stars channel (102) in the afternoons. The show is a “MUST TRY” show. In other words, if you find yourself listening to something else, try giving the Jay Thomas Show a listen. You will not be disappointed. In recent weeks, great news about Jay Thomas has elevated his presence at Sirius. Thomas now hosts a show on Friday mornings on Howard 101. I had written several pieces about the need to fill the Friday morning slot. Stern takes Fridays off, and the master tape theater content, as good as it is, simply was not morning drive material. People wanted someone real in that slot, and now they have it with Jay Thomas filling that role. Additionally, Jay Thomas also DJ’s a show on Saturday nights on the Sirius’ Totally 70’s channel (7) from 8:00 to Midnight. Jay is quite busy, and for Sirius subscribers, this is a good thing.

What makes Jay Thomas good is his outgoing personality and life experiences. Jays career has taken him in many directions, and given him various experiences that are interesting. Thomas has opinions on many subjects, and the show is always entertaining. Jay interacts with his team of co-hosts such as Rodney Lee Conover, Shuli, and Madison. As a team, they keep the show rolling. Thomas also includes callers in the show, and sometimes a show will veer off on a tangent as a result of an interesting caller.

If you have not heard the Jay Thomas Show yet, make it a point to tune in. It is worth a listen. Thomas is one of the high points of Sirius’ talk line-up.

As a side note, Sirius should update the Howard 101 web page to include Jay Thomas.

Position - Long Sirius

Motley Fool, a publication that follows many equities with articles and forums issued a story today that carried the headline “XM And Sirius Call It Off“. That was enough to get me to click, and likely many others as well. After all, with the merger taking forever, news such as that would be an attention grabber.

It turns out that the story was about the annual meetings that Sirius and XM deferred earlier today due to merger uncertainties.

There must have been some serious backlash (no pun intended) about the headline, because the headline has now been changed to “XM And Sirius Still Waiting”

I would wager that the first headline grabbed more hits than the second, and made more than a few people nervous.

Position - Long Sirius, Long XM

Sirius satellite radio is moving a bit deeper into the realm of Internet radio. Sirius Internet Radio streaming has been available for quite some time as a computer standalone or with units such as the Stiletto 2 and SONOS that use a WiFi connection to allow users to stream content. This latest move with the popular Squeezebox from Logitech allows users to gain access to programming in yet another way, while also allowing full access to all Internet audio music.

Sirius Internet Radio is compatible with all three of Logitech’s streaming media products for the home. The Logitech network music players will connect directly to Sirius Internet Radio, providing a seamless and easy set-up. Utilizing a home broadband connection via Wi-Fi or a wired network connection, listeners can stream Sirius.

With the new Squeezebox Duet network music system, music lovers can listen to SIRIUS on the home-entertainment system in their living room, the stereo system in their bedroom, even on the mini-system in their kitchen and control it all from the palm of their hand. The Logitech Squeezebox network music player is the easiest way to listen to music stored on Macs and PCs as well as virtually any Internet radio station through a stereo system. For true audiophiles, the Logitech Transporter network music player streams audiophile-quality digital music with sound that surpasses even the most exotic compact disc players.

“By offering content from SIRIUS over our Squeezebox and Transporter network music players, our customers can now experience SIRIUS’ streaming content on their home entertainment systems,” added Robin Selden, Vice President and General Manager of Logitech’s Streaming Media business unit. “From its commercial-free music channels to its exclusive talk content, SIRIUS’ programming will supplement the entertainment experience offered by Logitech’s network music players. And now with our newest Squeezebox controller, music lovers can turn on SIRIUS from the comfort of their couch.”

Logitech plans to make the Sirius Internet Radio service available to existing Squeezebox and Transporter users via a software update.

Position - Long Sirius, No Position LOGI

Stand-up comedy greats Lewis Black, Margaret Cho, Janeane Garofalo and famed comedy troupe The Kids in the Hall will be among those featured on XM Radio’s original comedy series “Unmasked” when the series kicks off a new season on May 3, it was announced today. Recorded before a live studio audience, “Unmasked” offers up candid, one-on-one interviews with both established and emerging comedic talent for an uncensored look into their creative process and the lives that shape their comedy.

Listeners to the new season of “Unmasked” will hear some of their favorite comedians recount lighthearted and sober stories alike, from Lewis Black sharing stories of his early, broke years working in the theatre, and the night he spent in jail, to Janeane Garofalo’s thoughts about her stint on “Saturday Night Live” and who is her least favorite comedian. Broadcast dates are as follows:

• Lewis Black Saturday, May 3
• Margaret Cho Saturday, May 17
• The Kids in the Hall Saturday, May 31
• Janeane Garofalo Saturday, June 14

The season premieres on Saturday, May 3 at 8 p.m. ET on XM’s uncensored comedy channel “XM Comedy” (XM 150). Additional programming information and encore schedules are available online at http://www.xmradio.com/unmasked

XM’s programming lineup features five dedicated comedy channels that offer a range of round-the-clock comic programming-uncensored comedy on “XM Comedy” (XM 150), family comedy on “Laugh USA” (XM 151), Canadian comedy on “Laugh Attack” (XM 153), short-form sketch comedy, standup and satire on “National Lampoon(TM) Comedy Radio” (XM 154) and irreverent comedy and talk from Opie and Anthony and Ron and Fez on High Voltage (XM 202). XM also offers other original comedy programming, including “Stand Up Sit Down,” which features long-form interviews and stand-up routines from a who’s who of comedians, including Lewis Black, George Carlin, John Cleese, Dane Cook, Bill Cosby, Jim Gaffigan, Gilbert Gottfried, Mitch Hedberg, Robert Klein, Larry the Cable Guy, Richard Lewis, Kathleen Madigan, Paul Mooney, Ron White and many others.

Position - Long XM

Speculation surrounding the capabilities of Sirius’ Starmate 5 has made its way around the Internet. The new device is in the midst of testing at the FCC, and a letter regarding the testing from the FCC mentioned XM Satellite Radio. This tidbit of information could be a clue as to an A-La-Carte capable receiver, or simply just an innocent use of the XM name in correspondence relating to the receiver.

Viewing the instruction manual for the Starmate 5 gives no real indication of XM capabilities. Some look at this as evidence that this is not a “special” receiver. I would caution such assumptions. An A-La-Carte radio would have a subscriber subscribing to either Sirius or XM initially, and the A-La-Carte offerings would be a handful of channels from the other service. Thus, it stands to reason that the directions would give no real indication of the channel line-up, and there would be no need, especially at this point, to divulge these capabilities.

With the understanding that the new Starmate 5 carries many similarities to the Starmate 4 in form and function, we decided to dig a bit deeper in an effort to see if there was something that differentiates the two devices. We pulled the internal photo of the Starmate 4 as filed with the FCC on August 17, 2007 as well as the internal photo of the Starmate 5 as filed with the FCC on May 3, 2008, and BEHOLD……extra stuff and substantial changes!!!

Now, I am no circuit board expert, but perhaps a reader can comment on what some of these changes might mean. It could be as simple as an upgrade to the chipsets, but only 8 months has passed between these two FCC filings. Is there something in here that relates to additional functionality? I guess we need experts to let us know. If the changes do relate to an A-La-Carte radio, it could mean that such a device would be available for the2008 Holiday season. There is plenty of time for production if this is the case.

FCC Filing for Starmate 4

FCC Filing for Starmate 5

Orbitcast Article

Position - Long Sirius, Long XM