Sirius XM March 2016 Thread

[MUSCLE13]

Got a question for you Brandon. You can answer with any of the 3 aliases you used on the board today. Or any of the countless other aliases you use here.

I was listening to Maffei at the media conference yesterday

http://edge.media-server.com/m/p/4gg3pcjv

And he mentioned something that perplexed me. He was confident about Sirius strength with the car makers connected services, which is fine, and then mentioned all the foreign car mfrs they have strength with in that area PLUS he mentioned Chrysler??? Does Chrysler have an announced connected vehicle/telematics deal with Sirius? I was unaware. Thanks in advance for your research on this Brandon! Appreciate it.

PS - At today's conference Meyer mentioned all the overseas Mfrs for connected vehicle services, but did not mention Chrysler. Perplexing

http://edge.media-server.com/m/p/qmoc26wk

[salnguad]

thanks. I like the way you think.... pulled the trigger yesterday and sold all at 3.90 Just my luck. Made some money.. I guess I should be happy... lol

[dm_4]

Got a question for you Brandon. You can answer with any of the 3 aliases you used on the board today. Or any of the countless other aliases you use here.

I was listening to Maffei at the media conference yesterday

http://edge.media-server.com/m/p/4gg3pcjv

And he mentioned something that perplexed me. He was confident about Sirius strength with the car makers connected services, which is fine, and then mentioned all the foreign car mfrs they have strength with in that area PLUS he mentioned Chrysler??? Does Chrysler have an announced connected vehicle/telematics deal with Sirius? I was unaware. Thanks in advance for your research on this Brandon! Appreciate it.

PS - At today's conference Meyer mentioned all the overseas Mfrs for connected vehicle services, but did not mention Chrysler. Perplexing

http://edge.media-server.com/m/p/qmoc26wk

Don't recall any Chrysler deal. Last i knew OnStar handles GM. Could be nothing or maybe Maffie let the cat out of the bag. Sprint i believe is GM wireless partner as well.

[dm_4]

thanks. I like the way you think.... pulled the trigger yesterday and sold all at 3.90 Just my luck. Made some money.. I guess I should be happy... lol

Making a little is better than losing a little.

[MUSCLE13]

Don't recall any Chrysler deal. Last i knew OnStar handles GM. Could be nothing or maybe Maffie let the cat out of the bag. Sprint i believe is GM wireless partner as well.

GM owns OnStar. Great business. Great margins. Meyer mentioned Ford hasn't really decided yet, but no mention of Chrysler's connected vehicle business. He said Sirius has about high 40 percentages of the car mfrs and named most of then - Toyota, Nissan, Honda etc. I wonder why Maffei mentioned Chrysler???

One thing I found very exciting is that SXM17 will work with embedded car modems AND tethered internet car connections as well (smartphones). I think that is going to be amazing. Just differentiates sat radio in the car from AM/FM radio even more with On Demand content and Customized music. People don't realize that there are still 230 million people in this country listening to terrestrial radio each day. That's Sirius' target for gaining subs.

Deutsche analyst opened the interview with Meyer saying Sirius revenue increase over the last 3 years exceeds Pandora's total annual revenue and Sirius EBITDA gain over 3 years averaged 22% annually while Pandora's EBITDA loss went up 5 times in the same period........

[dm_4]

Myers:

"That said, if we continue to buy and they continue to not participate, obviously that ownership creeps up. Our board is well aware of that, it’s something we discussed it every board meeting and when we are ready to tell you what we’re going to do, we’ll tell you, okay, but we are very well aware of that.

I’ll be honest with you I don’t see a big reason, a big difference between Liberty owning 61% and Liberty owning 71%. I think it starts to approach into the mid to high 70s, it becomes much more of an issue that our board will deal with."

[MUSCLE13]

Myers:

"That said, if we continue to buy and they continue to not participate, obviously that ownership creeps up. Our board is well aware of that, it’s something we discussed it every board meeting and when we are ready to tell you what we’re going to do, we’ll tell you, okay, but we are very well aware of that.

I’ll be honest with you I don’t see a big reason, a big difference between Liberty owning 61% and Liberty owning 71%. I think it starts to approach into the mid to high 70s, it becomes much more of an issue that our board will deal with."

Jessica has written about a possible dividend more than once, thus slowing the buyback ownership creep. 80% I believe they can consolidate the cash and 90% they can do a short form merger with no premium. You don't wanna go there. As a shareholder I would welcome a dividend, and I don't believe Liberty would be against it either, from what Maffei has stated on earnings calls in the past. Also I would be in favor of Sirius using their cash flow to buyback the tracker as well. It will be pure Sirius stock. Malone has mentioned a Sirius buyback of that nature in the past according to Maffei's comments on those earnings calls/ conferences

But in the end Brandon, I think the tracker will have a reduced discount to the NAV which is currently sitting around 15% I believe, and thus will make it easier for Liberty to make another offer to Sirius to combine the 2 stocks, Sirius tracker and Sirius, without it being too dilutive to their shareholders. The reason they have not made that offer again is quite obviously the discount to the NAV is too large for Liberty right now. I expect that wont last. Invest in both - Siri and Tracker.

Good talking with you Brandon. Good Luck with all your aliases

[dm_4]

Jessica has written about a possible dividend more than once, thus slowing the buyback ownership creep. 80% I believe they can consolidate the cash and 90% they can do a short form merger with no premium. You don't wanna go there. As a shareholder I would welcome a dividend, and I don't believe Liberty would be against it either, from what Maffei has stated on earnings calls in the past. Also I would be in favor of Sirius using their cash flow to buyback the tracker as well. It will be pure Sirius stock. Malone has mentioned a Sirius buyback of that nature in the past according to Maffei's comments on those earnings calls/ conferences

But in the end Brandon, I think the tracker will have a reduced discount to the NAV which is currently sitting around 15% I believe, and thus will make it easier for Liberty to make another offer to Sirius to combine the 2 stocks, Sirius tracker and Sirius, without it being too dilutive to their shareholders. The reason they have not made that offer again is quite obviously the discount to the NAV is too large for Liberty right now. I expect that wont last. Invest in both - Siri and Tracker.

Good talking with you Brandon. Good Luck with all your aliases

You're welcome Brandon.

[dm_4]

Hey Brandon maybe GM sells siri their onstar portion of business.

[MUSCLE13]

Hey Brandon maybe GM sells siri their onstar portion of business.

Brandon - If you have listened to Meyer's interviews, he has stated that GM loves their OnStar business and is sticking with it. But that doesn't stop Sirius from going after business from the rest of the field. They already have high 40 percentage share.

I think connected cars has worldwide potential, as I believe Howard/Sirius video app has worldwide potential as well. I don't believe Sirius will ever take sat radio worldwide, but I wouldn't count out a bigger role in Canada. As was discussed at the Deutsche conference.

My opinion is Sirius eventually gets to 50 million US subs with about 130 million dormant installed car radios that will turn into an ad supported business to rival terrestrial.......maybe 10 stations? Mel used to talk about it years ago. That side will take another 5 or 10 years to develop in my opinion.