Will Mel "Showboat" on Friday, After XMs' Bad Day?

Thursday, February 16, 2006

(By Scott Moritz, via TheStreet.com)
"Last week Sirius, the New York pay radio shop, successfully jockeyed to release its earnings a day after archrival XM stunk the joint out with an anticipated poor performance. Not only were XM's losses steeper than expected and costs of adding new subscribers alarmingly high, cost conscious director P. Jack Roberts abruptly quit, warning of a potential crisis ahead.
Now, with XM suffering a mini-implosion, industry observers expect a little showboating from Sirius' CEO, the media showman Mel Karmazin -- at least while the XM stumble lasts. Sirius, for example, has hinted that it may raise its monthly subscriber rate. Karmazin could justify the move by arguing that it has compelling programming, and the additional revenue could help soothe Wall Street's concerns and start to turn the tide of red ink in satellite radio business. Analysts expect Sirius to post a net loss of 22 cents a share on $75.4 million in revenue when the company reports before the opening bell Fruday. Sirius may also give a projected timeframe for when cash generated from sales starts to break even with costs. XM said it expected to reach so-called free-cash-flow breakeven by the end of this year."

On the SIRIUS side you can listen to Mel, online here, or on SIRIUS 125 at 8AM Feb 17th 2006

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