Back in 2009 the already deeply financially stressed US pay-radio broadcaster SiriusXM was contemplating bankruptcy. It had a $1 billion debt obligation and no way to repay the borrowings. Sirius Satellite Radio and its rival XM Satellite Radio had already merged their loss-making operations (which wrapped in July 2008) in an attempt to save cash, […]
The rumour mill surrounding the departure of Jim Meyer, CEO at pay-radio operator SiriusXM and the broadcaster’s CFO (David Frear) announced at the same time, has ramped up in earnest. One influential analyst, Jessica Reif Ehrlich from the Bank of America, describes the changes as a “significant shake-up” and says that a move by John […]
US pay-radio operator SiriusXM is losing its CEO and CFO. CEO James Meyer will retire on December 31st while CFO David Frear “will be pursuing other opportunities” after 17 years at the company. Jennifer Witz, currently president of sale, marketing & operations at the company, will take over from Meyer, while the radio broadcaster has […]
US pay-radio operator SiriusXM has increased its guidance for net growth in its pay-radio operation by a net 700,000 and above the previous 500,000 expectations for the year. “Our business continues to demonstrate strong performance and favorable trends since we resumed providing our subscriber and financial guidance in conjunction with our second quarter earnings report. […]
North American pay-radio operator SiriusXM has done well for its shareholders, including Liberty Media (73 per cent shareholding). The past week has seen BMW confirm that it will install SiriusXM’s 360L on-demand satellite + streaming audio player in all its 2021 vehicle range (except for some of the Series 1 models and X1 and X2 […]
US pay-radio operator SiriusXM is ploughing another $2 billion into buying back its own shares. This means that SiriusXM has authorised and bought back a total of $16 billion of common stock since 2013. The company says it will fund the repurchases through cash on hand, future cash flow from operations, and future borrowings. SiriusXM […]
In a deal that it says will combine the US leading audio entertainment company with a pioneer in podcast production, distribution, and ad sales, creating the premier full-service platform for podcast creators, publishers, and advertisers, audio entertainment specialist SiriusXM is to acquire Stitcher from The E.W. Scripps Company. The $265 million (€234m) transaction, predicted by […]
US pay-radio giant SiriusXM is close to buying Stitcher, a podcast application owned by E W Scripps. Podcasts are increasingly important and Spotify, a major rival to SiriusXM, and its sister service Pandora is increasingly dominating the podcast market. Stitcher will give SiriusXM a foothold in the sector and sit alongside Simplecast which SiriusXM acquired […]
US pay-radio operator SiriusXM has issued $1.5 billion of new Senior Notes debt in a private placement. The offering was significantly oversubscribed. The net proceeds will be used to redeem all of its outstanding 5.375 per cent senior notes originally due for repayment in 2025 as well as borrowings of its 4.625 per cent Notes […]