Today, I heard that more than 180 Sirius XM shareholders have signed a petition demanding that company CEO Mel Karmazin explain how he plans to raise money to fund more than $1 billion in debt coming due next year. “If the plan is to muddle through without a plan. We need to know,” the petition says.
Today’s Motley Fool headline screams, “Just Walk Away, Sirius.” The story suggests that Sirius should walk away from its merger deal with XM rather than accept additional concessions. Well, I disagree.
In an effort to boost the chances of their merger going through, satellite radio companies Sirius and XM just unveiled…. a puzzle. That’s right, a crossword puzzle.
Investors sent XM Satellite Radio’s stock up 10% today on an analyst upgrade report. What’s surprised me about this market reaction is, the analyst report offers hardly any new information.
Many Wall Street analysts expect satellite radio companies to keep increasing their prices. But a new Forrester Research report indicates that XM and Sirius might actually want to start thinking about cutting subscription price tags, instead.
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