Mel and Howard
By Steve Garcia
Once again this week, Sirius XM Radio (NASDAQ:SIRI) has been the brunt of some bad writing and less than accurate information from the likes of several “Financial News” sources on the internet. The death of satellite radio as we know has been an ongoing source of comic relief to any investor who is worth their salt and does even a small amount of research, including reading some SEC filings. Fomented lies about satellite radio may grab some sensational headlines but they do not give a true and clear picture of what satellite radio is or whether they truly have any direct competition.
Allow me to help clarify the picture for those of you out there who have not been following for the last 10 years. Satellite radio is here to stay, having survived the onslaught of negativity from multiple media sources and a merger which became prohibitively expensive to finalize, as well as the economic meltdown of 2008-2009. That said, Sirius XM, which is the company resulting from the merger of Sirius satellite radio and XM satellite radio, once two very distinct satellite radio companies has spent the last year and a half shedding a lot of excesses and duplicity of effort and cost as it streamlines and transforms into a much leaner and stronger company.
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