SIRIUS XM Chief: Regular Radio "Sucks" as Investment
Friday September 12, 2008
Seems SIRIUS XM CEO, Mel Karmazin, was speaking to a Merrill Lynch conference where he was trying to convince the analysts that Satellite Radio is a better investment than traditional AM or FM.
According to an article by Paul Bond for Hollywood Reporter, Karmazin said, "The reason that radio sucks today, and the reason that most of you don't want to invest in it, is principally because the growth stopped."
Earlier this week SIRIUS XM shares were selling at $1.14 - the lowest price since May 21, 2003 when they were $1.07.
Comments
Why pay for a radio station(s) that play the same damn old stuff anyway or to hear some old foul mouth DJ talked about his prevision. Save your money and entertain yourselves because the pin head in suits and ties have it all wrong. You don’t know what I really like to hear or no I do not want to hear Free Bird commercial free!
I don’t know what Mel is talking about. The stock prices of the unmerged companies were respectable. The new and improved company, XM Sirius, is under a buc now.
With the economy being the way it is, especially at this moment, pay radio will be the first thing to go in a person’s budget.