sirius xm update - Chicagoland Sportbikes
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post #1 of 9 (permalink) Old 09-19-2008, 01:42 PM Thread Starter
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sirius xm update

for all of you that subscribe.

http://investor.sirius.com/ReleaseDe...leaseID=333252

Quote:
The company provided the following new guidance for 2008 and 2009:

Subscribers

-- The company expects to end 2008 with approximately 19.5 million subscribers and to end 2009 with approximately 21.5 million subscribers.

Revenue

-- SIRIUS XM expects to post pro forma revenue of approximately $2.4 billion in 2008 and to post revenue of approximately $2.7 billion in 2009.

Adjusted EBITDA

-- SIRIUS XM expects a pro forma adjusted EBITDA loss of approximately $350 million in 2008 and reiterated its previously stated financial guidance of approximately $300 million in positive adjusted EBITDA for 2009. Adjusted EBITDA is net income / (loss) before interest and investment income, interest expense (net of amounts capitalized), depreciation expense, and non-cash stock compensation expense.

Synergies

-- SIRIUS XM announced it is increasing its estimate of net synergies to $425 million in 2009.

-- The Company also provided a line item breakdown of how the expected 2009 synergies will be achieved, which will be available as an exhibit to the Current Report on Form 8-K that the company is filing today.

"We have made great strides over the last six weeks and continue to make progress integrating the company and delivering on our promises to customers and stockholders," said Mel Karmazin, CEO of SIRIUS XM Radio. "We are finding significant cost savings on every line item of the P&L and are beginning to realize these synergies already. SIRIUS XM also continues to be one of the strongest growth stories in media, with pro forma revenue growth of approximately 17% in 2008."

Today, the company also announced the content line-up for SIRIUS XM's new "Best of Both" programming options. As part of "Best of Both" programming, most current XM customers will continue to receive their existing XM service, and be able to obtain select SIRIUS programming. Likewise, most current SIRIUS customers will continue to receive their existing SIRIUS service and be able to obtain select XM programming. In addition to their existing service, SIRIUS and XM subscribers will be able to purchase the following channels:


SIRIUS on XM
Howard 100
Howard 101
Martha Stewart Living
Radio
SIRIUS NFL Radio *
SIRIUS NASCAR Radio
Playboy Radio


XM on SIRIUS
NBA *
NHL Home Ice *
Oprah & Friends
The Virus
Public Radio with Bob Edwards
College Sports *
PGA Tour

* Sports offerings will also include channels for play-by-play of NBA, NHL, NFL, and College Sports games.

Included on the "Best of" XM on SIRIUS will be such shows as Basketball and Beyond, hosted by Duke and Olympic basketball coach Mike Krzyzewski; Andretti Green, with driver Danica Patrick; 60/20, a sports magazine show by Luke Russert and James Carville; Indy Racing League car races; and games from the top college conferences, including the PAC 10, SEC, Big 10, Big 12, Big East and ACC.

Karmazin stated, "We have been working closely with our content providers since the day the merger closed and have made significant progress in those discussions. The resulting "Best of Both" options we are outlining today represent another step towards fulfilling our promise of more choices and lower prices for our subscribers. We are very excited to begin offering existing and prospective listeners access to even more compelling programming and new packages."

"Best of Both" programming will be available to satellite radio consumers beginning October 6, 2008 on most existing satellite radios at a monthly cost of $16.99. Also, the company's full slate of new packages will be available to consumers on Oct. 6, including the opportunity to choose programming on an a la carte basis for the first time ever in subscription media.

Eric

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Quote:
Originally Posted by shadrach
The art of reading is lost on all....

Last edited by Audiofyl; 09-19-2008 at 01:47 PM.
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post #2 of 9 (permalink) Old 09-19-2008, 01:54 PM
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So you have to pay more to get some special channels the "other" carrier is offering? That's BS. I like the merger, but this was supposed to mean less cost to the consumer. They've already began pushing their monopolistic ways!

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post #3 of 9 (permalink) Old 09-19-2008, 02:13 PM
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^ + A Million. Very disappointing.
Howard was talking day and night about how merger will mean cheaper service. Fucking monopoly.
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post #4 of 9 (permalink) Old 09-19-2008, 02:56 PM
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I hate when I'm right...
https://www.chicagolandsportbikes.com...ad.php?t=69461 (post number 22)
and so much for your reply in the same thread, Keyhole (post number 24)

Looks like I will be cancelling my subscription...
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post #5 of 9 (permalink) Old 09-19-2008, 03:00 PM Thread Starter
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from what i've heard, the prices are locked as they currently are for the next year or two at the minimum. this is just offering stations from the "other" provider to your existing radio should you be interested. I'm sure a few people who jumped on xm were stern fans and they'd pay a couple extra bucks a month instead of purchasing all new equipment to be able to listen.

I'm sure the story will be different when they completely merge and offer siriusxm equipment and a fully combined station list.

Eric

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Quote:
Originally Posted by shadrach
The art of reading is lost on all....
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post #6 of 9 (permalink) Old 09-19-2008, 03:08 PM
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Without the competition there should not be a reason we couldn't offer all channels to all subscribers and get rid of those that may be redundant at the same cost. The costs are going to be dramatically reduced because of the merger (less advertising costs, redundant staff removed, greater vendor negotiating power...) which should mean top line growth without raising or lowering rates as they are now...

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post #7 of 9 (permalink) Old 09-19-2008, 03:11 PM
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dont worry if they fail the government will bail them out.

-Nick
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post #8 of 9 (permalink) Old 09-19-2008, 03:14 PM
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Quote:
Originally Posted by HeavyHand View Post
dont worry if they fail the government will bail them out.
haha!

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post #9 of 9 (permalink) Old 09-20-2008, 11:31 AM

 
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Quote:
Originally Posted by HeavyHand View Post
dont worry if they fail the government will bail them out.
X2 on the Haha!

I just graduated with my MBA. I need help paying off my student loans. Anyone know who I write to to have the government bail me out?

But to keep things on topic... Sirius 36 - The Beat...FTW
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