Sirius Names Karmazin CEO, Shares Jump
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Sirius Satellite Radio Inc.  on Thursday named former Viacom Inc. President Mel Karmazin as its chief executive, in the latest migration of a mainstream radio heavyweight to the fledgling satellite industry.
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The two main U.S. satellite radio  providers, Sirius Satellite Radio and XM Satellite Radio on  Monday said they would merge in a stock-for-stock deal, a move  that has been long expected in the young industry.
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Love him or hate him, he delivers the goods. Howard Stern&#39;s five-year deal with Sirius Satellite Radio (nasdaq: SIRI - news - people ) helped it to add more than 69,000 new subscribers in September to pass the 700,000 mark.
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You might have thought that Sirius got serious when it hired Howard, but the second-place satellite radio company is upping some serious ante now by enlisting former Viacom President Mel Karmazin. -washingtonpost.com
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Mel Karmazin, the hard-charging broadcasting executive who left Viacom Inc. after clashing with chairman and chief executive Sumner M. Redstone, is taking command at Sirius Satellite Radio Inc., which will reunite him with longtime ally Howard Stern.
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(InfoWorld) - The U.S.'s two satellite radio operators, Sirius Satellite RadioÂ and XM Satellite Radio Holdings announced Monday they plan to merge, pending a potentially difficult approval process. The all-stock deal will see XM shareholders receiving 4.6 shares of Sirius stock for each XM share they own. The new company would be worth $13 billion, based on the companies' estimates, although neither company has ever turned a profit. Sirius and XM combined lost over a billion dollars last year on total revenues of about $1.5 billion. Because the two are the only companies licensed by the U.S. Federal Communications Commission (FCC) to offer satellite radio services, the merger may face regulatory opposition over creating an industry giant that would be hinder competition. Sirius CEO Mel Karmazin will become the new company's CEO, with Gary Parsons, currently XM's chairman, set to become its new chairman. Executives from both companies will continue in their present roles until the deal closes, expected by the end of 2007. The two companies pioneered the concept of subscription-based radio services, delivered nationwide via satellite. Both Sirius and XM charge subscribers $12.95 per month for their services. Sirius surprised the radio world in 2004 when it signed shock-jock Howard Stern to a five-year, $100 million contract. Stern remains the network's chief draw of over 130 channels, which includes NFL game broadcasts and related talk shows. XM has about 160 channels and counts talk-show and entertainment titan Oprah Winfrey among its celebrities. XM claims 7.6 million subscribers, and Sirius 6 million.
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Sirius Satellite Radio Inc. CEO Mel Karmazin sought to allay shareholder concerns at the company's annual meeting Thursday, saying he was just as disappointed as other investors in Sirius' lagging stock price. Compared to rival XM, however, he said: "We suck less."
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Top-ranked shock jock Howard Stern says he is leaving Infinity Broadcasting Corp. to join Sirius satellite radio, beginning in January 2006, where he'll get the national audience he has coveted.
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Sirius Satellite Radio plans to buy U.S. rival XM Satellite Radio for $4.6 billion in stock to bring entertainers such as Oprah Winfrey and shock-jock Howard Stern under one roof, but a top regulator said the deal would face a tough time winning approval.
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Howard Stern, one of the most popular US radio personalities, on Wednesday said he will broadcast his show on Sirius Satellite Radio Inc.
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Shares of Sirius Satellite Radio Inc. tumbled after two analysts issued downgrades, calling the stock overvalued. Sirius&#39;s stock had nearly tripled in value since October, boosted by the company&#39;s inking a
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The two main U.S. satellite radio  providers, Sirius Satellite Radio  and XM Satellite  Radio  on Monday said they would merge in a  stock-for-stock deal, a move that has been long expected in the  young industry.
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Following investor pressure for a management shake-up, Yahoo Inc. Chairman and Chief Executive Terry Semel is stepping aside and will be replaced as CEO by co-founder Jerry Yang, Yahoo said on Monday, sending shares up 3.5 percent in extended trade.
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Top US media mogul Mel Karmazian, former president of Viacom, has joined Sirius Satellite Radio as its chief executive. The announcement came Thursday, a month after the new broadcasting medium signed radio
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In the radio industry, Sirius Satellite Radio chief executive Mel Karmazin is like Bono or Prince or Charo: One name is sufficient. Say "Mel," and everyone knows who you're talking about.
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Congress plans to hold hearings into the merger of satellite radio providers XM and Sirius next Wednesday, with the House Judiciary Committee slated to ask CEO designate Mel Karmazin and others how the merger benefits consumers.
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Investors are tuning in to news that the subscription-based programmer has tapped Mel Karmazin, the former Viacom president, to be its new CEO.