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Media

Thoughts on SIRIUS XM, After Howard Stern? (SIRI)

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By Jon C. Ogg Updated Published
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SIRIUS XM Radio Inc. (NASDAQ: SIRI) is down again this morning after having recently hit a high of $1.44.  The first drop had been a mixed market and profit taking after such a large move in the stock.  Valuations were also getting high as the stock approached that $1.50 level.  Now there is yet another article that talks about the Howard Contract contract negotiations.

Bloomberg reported that Mel Karmazin still has no deal and is exploring alternatives if there is a post-Stern SIRIUS XM.

We have contemplated the ‘life without Stern’ model for SIRIUS before today and earlier in the year.  On the surface there feels like much time left.  In reality the end of 2010 is counting down faster than you can count.  Howard Stern is a huge part of SIRIUS XM.  If no agreement is reached, it seems as though Stern would probably not be replaced.  Our bet is that SIRIUS XM would hype up more of its other services for clients.

Shares closed at $1.38 on Monday and the stock is indicated down 1% Tuesday at $1.36.  The 52-week range is now $0.56 to $1.44.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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