King of All Trades » Greg Maffei

Mel Karmazin and Greg Maffei Add Flavor to Sirius XM’s Future

king1 — Thu, 05 Jan 2012 15:42:52 +0000

Yesterday CITI had a Global Entertainment and Media Conference, in which Mel Karmazin, CEO of Sirius XM Radio (NASDAQ:SIRI) and Greg Maffei, CEO of Liberty Media (NASDAQ:LINTA) spoke. There was no formal presentations by these gentleman but they were on board for answering some really good questions. This conference helped answer some important questions investors had about the company. Greg and Mel were very frank and offered valuable information investors can use to make better decisions about their investment with the company. First let us look at what Mel had to say. The first thing Mel offered was information on Q4 subscriber totals.

Mel Karmazin and Greg Maffei Add Flavor to Sirius XM’s Future King of All Trades

Look You Dumb Journalists, Liberty Is Not Acquiring Sirius XM, They Already Own It

king1 — Wed, 14 Dec 2011 14:49:50 +0000

For the life of me I can't understand why "journalists", and I use that term exteremely loosely here when considering the coverage of Sirius XM Radio (NASDAQ:SIRI), cannot understand simple math and simple facts. If I hear the NOL's mentioned one more time as why Liberty would take over Sirius XM, I'm going to scream and throw something. NOL's are 100% for Sirius XM to use, will be used 100% by Sirius XM, and has no value directly to Liberty. This is from comments from Frear (CFO of Sirius XM), Mel Karamazin (CEO of Sirius XM), and Greg Maffei (CEO of LCAPA). There is NO SCENARIO PERIOD that allows Liberty to benefit from them except as an indirect 40% stakeholder in Sirius. It gives their holding more value, as profits are protected till around 2020. That's it. That is the only benefit to the company and Liberty. LCAPA can't spin off, spit off, crunch off, roll off, spit off, or any other form of off to make them any other way. So stop it. Stop it right now. Stop your incessant babbling and learn how to understand simple concepts. And they are not valued at 8 billion, its more, and its around 3 billion in cash value. NOT 8!!! There is no magic way to add 8 billion to the asset line. It comes in small chunks as savings on profits that would have been paid to IRS.

Look You Dumb Journalists, Liberty Is Not Acquiring Sirius XM, They Already Own It King of All Trades

Liberty Media Has No Plans To Add Stake in Sirius XM

king1 — Wed, 30 Nov 2011 14:07:54 +0000

Sorry get rich quickers. Liberty is not going to be making a large tender offer for the entire company anytime soon. Irresponsible journalism is running rampant again on issues we have been discussing for years now. According to Reuters, Sirius XM (NASDAQ:SIRI) CEO Mel Karmazin stated that no offer has come and he doesn't expect it too.

Liberty Media Has No Plans To Add Stake in Sirius XM King of All Trades

Sirius XM 2nd Quarter Conference Call Proves Synergies Still Strong and Growing

king1 — Mon, 08 Aug 2011 14:28:10 +0000

Recently I was struck aghast by a journalist commenting that Sirius XM (NASDAQ:SIRI) synergies were "baked in" and mostly over. I responded with an article noting expected synergies from the company and what time frame they were expected in. That article was written a few weeks ago and can be found here, http://www.kingofalltrades.com/2011/07/24/sirius-xm-major-synergies-finally-being-realized/. On August 2nd, during Sirius XM's conference call and subsequent 10Q filing, I was able to also find newer support that they are indeed still growing and being realized every quarter.

Sirius XM 2nd Quarter Conference Call Proves Synergies Still Strong and Growing King of All Trades

Sirius XM Major Synergies Finally Being Realized

king1 — Sun, 24 Jul 2011 04:00:04 +0000

Sirius XM Radio (NASDAQ:SIRI) was never intended to be two separate companies upon its creation. The inventor, Martin Rothblatt, envisioned only one service that would be capable of financial survival. Over 15 years later, he was proven correct. The service was too new and the platforms too similar to differentiate themselves. It is possible the FCC's design in awarding two separate licenses was to weaken the technology revolution brought forth by satellite radio. We know that much of what transpired had the constant backing and lobbying by the NAB lobbyists, and it worked as intended. In February of 2009, with a debt tower looming and a frozen bond market, Sirius XM Radio was forced to sell 40% of the company just to survive. The company desperately needed the synergies a merger would provide.

Sirius XM Major Synergies Finally Being Realized King of All Trades

Sirius XM Proxy Puts Reverse Split/Poison Pill to Bed

king1 — Wed, 13 Apr 2011 14:29:00 +0000

Yesterday, Sirius XM Radio (NASDAQ:SIRI) released their annual proxy for their upcoming stockholder meeting. The stockholder meeting will take place in New York on May 25th. The biggest news was not what was on the proxy but what wasn't on it. The poison pill and the reverse split will not be extended

Sirius XM Proxy Puts Reverse Split/Poison Pill to Bed King of All Trades

Can Liberty Media Lose Control Of Sirius XM?

king1 — Mon, 07 Mar 2011 15:34:01 +0000

Long time Sirius XM (NASDAQ:SIRI) stockholders remember February of 2009 very well. With massive debt coming due in 2009 and increasingly limited means of removing it, Sirius XM needed a loan. Liberty Media (NASDAQ:LINTA) provided Sirius XM with a temporary loan it needed to meet is financial obligations for the year 2009. In exchange for this help, Sirius XM gave Liberty Media preferred shares worth 40% of the total outstanding shares at the time of conversion. These shares had added power associated with them as well. These included voting rights, say in stock issuances, ability to nix new debt obligations over 10 million (other than refinancing existing debt), and say in any selling of assets. These rights have no expiration date and are good until conversion. So what can Sirius XM do to gain more control back to the current board of directors (who represent SIRI stockholders, not Liberty Capital (NASDAQ:SIRI)), which is the tracking stock being used to hold Liberty's 40% stake in Sirius XM. Is there an opening for another bidder? Is there a war of control coming? Possibly. Do Sirius XM and Liberty's intentions match? For control, maybe not. How would history write Mel Karmazin if he somehow managed to gain control of the company back from Liberty or was able to somehow introduce another party to drive the price up? Does he have the tools necessary?

Can Liberty Media Lose Control Of Sirius XM? King of All Trades

What Is Sirius XM Radio’s Fair Value?

king1 — Mon, 16 Aug 2010 12:23:37 +0000

Sirius XM Radio (NASDAQ:SIRI) is offered many opinions of what their shares are actually worth. It just depends on who you listen too. There seems to be a vastly different view of just how much one should pay for this equity and ultimately what is their appropriate market cap. If readers know my style, they know I do not work with subjectives or opinions. I like cold hard facts when I tackle a problem. The pulse of the investor community seems to be right now on trying to understand how an equity so obviously undervalued is still priced at $1 a share. What is Sirius XM’s real fair value? Well why waste a second longer, let us begin.

What Is Sirius XM Radio’s Fair Value? King of All Trades

Sirius XM’s True Value Yet To Come

king1 — Mon, 05 Apr 2010 14:10:19 +0000

Sirius XM Radio (NASDAQ:SIRI) CEO Mel Karmazin is like a kid in a candy store these days. He came to Sirius Satellite Radio in 2006 with the stated goal of combining the only 2 satellite radio companies, XM Satellite Radio was the other, into the vision its founder Martine Rothblatt envisioned in the first place: One satellite radio company. The FCC thought it new better in the 90's and awarded spectrum to two companies instead, even after insistence from Marine that it wouldn't work with two companies. To him the concept simply only worked for one company, and 10 years later it turned out he was right.

Sirius XM’s True Value Yet To Come King of All Trades

Liberty Pursuing Global Satellite Radio with Sirius XM Radio in the Mix

Andrew Montero — Fri, 05 Mar 2010 04:00:07 +0000

By Steve Garcia - Liberty Media (NASDAQ: LCAPA, NASDAQ:LINTA) essentially confirmed they have plans in the works to take their satellite radio interests global this past week. Liberty Media CEO Greg Maffei answered a question after his company's 4th Quarter Conference Call regarding Worldspace (OTC: WRSPQ) and Liberty's acquisition efforts aimed at Worldspace assets through Bankruptcy court. Among his comments was a statement that Worldspace has L-Band spectrum licensing worldwide, and that they were looking for a creative way to monetize Sirius XM Radio, converting their shares in the company is not an option they are likely to pursue at this time.

Liberty Pursuing Global Satellite Radio with Sirius XM Radio in the Mix King of All Trades