Quote:
Originally Posted by Sirius Roadkill
How 'bout I move his post to the Humor Thread. :D
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Quote:
Originally Posted by Sirius Roadkill
How 'bout I move his post to the Humor Thread. :D
MODERATOR: So Mel was here this morning and he told me to ask you this question, a question I asked him. Uhh, you’ve got a 40% stake in, umm, in Sirius.
MALONE: Um-hm.
MODERATOR: And its obviously worked out very well for you, we calculated like a 12 million % return, um, but in any case if you increase your stake above 50 . . .
MALONE: Well I think the return’s gotta be infinite doesn’t it?
MODERATOR: (laughs)
MALONE: I mean since we got all our money back and we still own it.
MODERATOR: Right, so its been a great investment
MALONE: Um-hm
MODERATOR: However we calculate and um
MALONE: Thank you Mel (mock shouting)
MODERATOR: And uh, he’s done a great job but if you increase your stake above 50% that would jeopardize their 8 Billion in NOL’s
MALONE: Well we cant contractually . . . at the present time we’re barred from going into hard control of it for some period of time, I don’t remember what it is, but its all been disclosed publicly, um, so for some period of time, ya know, we have to be happy to be less than majority owner of it. Uh, as our ownership stake changes it can impact, uh, the usefulness of their NOL and so that has to, um, be watched.
MODERATOR: Right, well Mel said it was March 2012 . . . so but in any case
MALONE: Well March 2012 I believe is the last point at which we have any restrictions on our behavior.
MODERATOR: (silence)
http://www.veracast.com/webcasts/bas...TOKEN=69376592
AQ: John assuming the LINTA spin, hard spin, goes according to plan what happens to the remaining trackers and on a sort of separate but related issue, in the case of Sirius, are there any advantages in doing a spin of your holdings?
MALONE: Well certainly, I’ll answer the second question first, we could follow the pattern of Direct TV with Sirius in which, ya know, we could presumably spin it along with a 5 year trade or business to meet the rules, put enough juice in it such that it would constitute more than 50% of the vote and value of the resulting roll up and do it in accordance with a prearranged deal very similar to Direct TV. That’s a possibility. That’s a possibility that comes up every time we look at structural options. We obviously have not made any decisions on that. We still think Sirius is cheap. We probably would like to own more of it. So I think we’re still in the create value rather than distribute value mode with respect to that particular asset.
Over here jonpluc! I am sorry, tried to move your post. :confused:
Post mover, not so much. :o
Julie
SRK, wow very good work!!! Thank you, a nice read for the night!!!
So what is your take now about John Malone, and what he might do?
"If they want to acquire more of the company I would do my best to make sure its at an extraordinarily high price."
What is your thought on the above quote? "Do my best" being the key phrase to me... What do you think Mel thinks is an "extraordinarily high price", also how much control does he have over this if any? Lol...
What were your thoughts of Mel's presentation and John Malone's interview?
Thank you SRK, very anxious to here your thoughts :)!
How are you today Julie, how is the weather down their? :p!
Good morning CANADIAN :sunny:Quote:
Originally Posted by Hopeful
You would LOVE to be in Michigan today Andy. It's your kind
of weather. Dreary, chilly and rain. High 61 :p
Great questions for SRK. I'm anxious to hear what he has to say too.
Take care,
Julie
Ahahahaha you're funny Julie and yes I would love it :P!
http://www.twice.com/article/457187-...hp?rssid=20310
Karmazin Discounts iPod Impact
Hints At Sirius XM 2.0 Features
By Joseph Palenchar -- TWICE, 9/16/2010
Newport Beach, Calif. - The rising number of vehicles equipped at the factory with iPod/iPhone connections isn't cutting into satellite-radio subscriptions, Sirius XM CEO Mel Karmazin told investors here at a Bank of America conference.
He also told the conference that the first Sirius XM 2.0 radios will be available in the aftermarket in the fourth quarter of 2011, offering subscribers "more content and more functionality" to "provide more stickiness."
Although he didn't divulge details, Karmazin likened the launch of 2.0 to cable-TV's evolution from offering basic service to on-demand content and pause and skip capabilities.
From the automakers, "reaction is great," he continued, but "it's a question of how quickly they can get it out." It usually takes three years for a new technology to become a factory-installed technology, he explained.
Referring to competition from iPods and other portable devices in the car, Karmazin said there "has not been any impact" on the conversion rate from trial to paid subscriptions in vehicles with both factory-installed satellite radio and factory-installed iPod/MP3 player connections compared to new cars with only satellite radio.
He also pointed out that people who have satellite radio in the car spend far more time listening to satellite radio than to other content source when they're on the move. Karmazin pointed to an Arbitron study of consumers, conducted in October and November of 2009. It found subscribers spend 71 percent of their time listening to satellite radio and only 17 percent to terrestrial radio, 7 percent to CDs, and 5 percent to such mobile devices as cellphones.
In other comments, Karmazin said:
•the household penetration rate of satellite radio is about 15 percent of 110 million homes, indicating plenty of potential for growth;
•85 percent of gross adds come from subscriptions in new vehicles;
•60 percent of new cars sold in the U.S. are equipped with satellite radio;
•and opportunities to reactivate the subscriptions of factory radios in used cars will represent a "tremendous opportunity" in about five years because of the growing penetration of factory-installed satellite radio.
Thanks Hopeful . . I'll post later todayQuote:
Originally Posted by Hopeful
Interesting the way Bloomberg tethered Tuna Amobi's past comments to Mel's presentation at BOA yesterday. Although the writer of this piece may have thought he created a great sensationlistic headline . . . the headline is actually bullish for Siri shareholders imo . . . 300,000 sub losses is like taking a pish in Lake Michigan
Do you wonder where Tuna gets his numbers from? Do you think he pulled them out of thin air? Tuna surprise? (I don't think so . . . someone is feeding the Tuna)
Sirius could lose up to 300,000 listeners if host Howard Stern leaves, CEO fears
Bloomberg News · Thursday, Sept. 16, 2010
Sirius XM Radio Inc. chief executive Mel Karmazin said the company may lose subscribers if talk-show host Howard Stern, right, leaves when his contract ends in December. The satellite-radio service provider won't know whether it will be able to renew Mr. Stern's contract until November, he said. Mr. Karmazin spoke yesterday at a Bank of America Merrill Lynch media conference in New York. About 200,000 to 300,000 subscribers might drop out if the shock jock leaves when his five-year, US$500-million contract with Sirius expires, Tuna Amobi, an analyst with Standard & Poor's rating service, said in an interview. As many as two million Stern fans signed up for Sirius in the months before and after the host moved from traditional radio to the satellite service in January 2006, Mr. Amobi estimated..
http://www.nationalpost.com/Sirius+c...394/story.html
It looks like David Bank's big SAC is starting to effect his work . . .
His $1.00 price target has already cost RBC clients an 11% return in a market where finding yield is challenging.
Looking forward to reading SRK! :)Quote:
Originally Posted by Sirius Roadkill
See Andy, I too can play while at work. :DQuote:
Originally Posted by Hopeful
Julie
Lol Julie, you are being bad though, :p!Quote:
Originally Posted by julietoo
Interesting read:
Satellite Technology Feature Article
September 16, 2010
Sirius XM Gets Ready for 2.0
By Gary Kim, Contributing Editor
The initial value proposition and business logic for Sirius and XM (when they were separate companies) was that satellite radio would do in the radio market what cable TV did in the television market, namely "add choice."
Some might argue that the promise was not immediately matched by the potential, as evidenced by slower than expected subscriber growth and then a merger of the two firms to create a single provider in the market.
By and large, the original premise still makes sense. Sirius XM does offer more varieity (the traditional cable TV value proposition) and in many cases, better audio quality (part of the original cable TV proposition).
Over time, we have come to better appreciate the differences between "television" and "radio," though. For starters, video is a product used primarily in the home, while radio is consumed primarily in cars.
That has meant Sirius XM prospects have depended on getting car dealers to offer the equipment as a standard feature in their new vehicles. Where cable TV companies and then telcos have had to woo local franchise authorities, Sirius XM has been dependent on auto manufacturers and new car sales to gain the right to market service to consumers.
That has been a tougher problem for Sirius XM than for cable operators for one key reason: municipalities have made money (about five percent of gross revenues) when they grant franchises. Auto manufacturers have to invest in gear that increases the sales price of their vehicles.
By some estimates, car suppliers get residuals of perhaps 2.9 percent of subscription revenues, but have to buy the radios. Municipalities get five percent and do not have to invest anything.
Also, though the conversion rate of new cars equipped with Sirius XM receivers is fairly high--46 percent or so--but that also means dealers have installed radios in 54 percent of vehicles that generate no revenue. Sirius XM normally provides a subsidy to get those radios installed, but does not appear to be a 100-percent subsidy.
Granted, the Sirius XM receivers do not add much to the cost of a new vehicle, but there is some additional cost to a dealer that in more than half of cases does not produce recurring revenue.
But Sirius XM looks to be readying a "2.0" version that will add important personalization features.
The fourth quarter of 2011 might be the time Sirius XM introduces the ability to customize audio feeds delivered over the Sirius XM service, but possibly also content captured from HD Radio, WiFi (News - Alert), and possibly terrestrial radio broadcasts as well.
"Satellite Radio 2.0" is expected to offer "significantly more choices for the consumer and contain functionality that does not exist today in our radios," says Sirius XM CEO Mel Karmazin.
Users might be able to customize their own channels using a “like” or “dislike” style button.
Sirius XM might analyze each song that was streaming through the Sirius XM spectrum, and then capture specific songs that met the listener’s preferences. The software could then cache that live content onto a new storage chip on the radio for playback at later times.
This caching could happen at any time that the radio was active, and not just while the user was listening to their personally designed channel.
All the while, the program could insert new content into the playlist that may potentially match the listener’s preferences and allows for music discovery over every single one of Sirius XM’s channels.
The same features might also be used for overall content discovery including news, sports, talk, and comedy programming as well.
Users might be able to save their favorite songs for instant playback at any time.
In a sense, Sirius XM is on the cusp of enhancing its value proposition from "radio with more choice" to "radio that is customized." That could be an important shift.
Gary Kim (News - Alert) is a contributing editor for TMCnet. To read more of Gary’s articles, please visit his columnist page.
Edited by Patrick Barnard
Anyone keeping track of John's stock market predictions? lol.
He has been awfully quiet of late. I wonder why? :D
"I said several months ago i believed the market would tank about this time
(end of the 3 quarter to beginning of the 4th quarter) and several weeks ago i told people to expect it to happen in the beginning to middle of Sept. Now while some lunatics would like to believe i have ESP, i dont, IT IS CALLED USING COMMON SENSE AND LOGIC. "
"MOST SANE PEOPLE WOULD BE SAYING AT THIS POINT, BOY I WISH MY PROFESSIONAL PLANNER WAS THAT CLOSE".
You cant make this stuff up.
i have quotes of John's that are even more incriminating, but i am holding them back
until later when i come back to bury John and his ideologically based stock market predictions.
I dont foolishly predict market directions and certainly not based on whether or not all the Bush tax cuts are allowed to lapse, capital gains go up, and Republicans take the House and or Senate. Its silly and pretty much unproveable, and he jumped in because with the economy as bad as it is his ego just couldnt pass up what seemed like an easy prediction based on a slowing economy.
P.S. He still hasnt answered my 2 questions (from weeks ago) about his predictions. He ran away after i tried to get him to be specific and now we all understand why.
Hm . . Siri on a nice slow methodical steady sustainable climb to $1.13 and we don't hear a peep from Spencer Savery in several days . . .
. . . and what of RBC's David Bank and his $1.00 Price Target? . . . I'll bet you that he's sitting at his desk tweaking his big SAC right now . . . that must be some Capital Markets division over there . . . . 13% pissed right down the drain!
SRK, you have not answered me yet... I am curious what your insight is on these questions?Quote:
Originally Posted by Hopeful
Thanks,
Andy
Havakasha, I am not here as a supporter of John's position on a lot of things but he has been right on some things so I do give him some credit esp., pointing out the growth in subs when everyone else was wrong. As far as the market goes the last two weeks of Sept and first two weeks of Oct historically have been bad for the market imdd research anyway. So, here's hoping that the market did most of its correcting in August and we have that behind us now, but I do think it is a little early to say John was wrong? For me, I look for improving statistics economically, but not enough to make a difference in the election although I do think the market will do ok since the republicans seem to be on the way to significant gains and that will be welcomed by th market... as misguided as that may turn out to be in the coming years? jmpoQuote:
Originally Posted by Havakasha
Hi Andy - I'm still piecing it together . . I have to do a little more research on spin-offs and IRS Section 355 Code requirements . . . I listened to the whole John Malone interview with Jessica Cohen . . . . but decoding some of John Malone's answers can be like trying to read ancient Eqyptian hieroglyphics . . :DQuote:
Originally Posted by Hopeful
In the meantime . . here's a little John Malone Canadian trivia for ya, eh . . .
Quoting John Malone:
"We have a retreat that's right on the Quebec border. We own 18 miles on the border, so we can cross. Anytime we want to we can get away. It would probably be illegal but we could go. Actually our snowmobile trail goes right on the border."