Sirius’ Karmazin Slams Regular Radio, Announces a la Carte Pricing
September 10, 2008
Sections: Satellite Radio
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The CEO of the newly combined Sirius XM Radio had harsh words for his competition this week, telling analysts that terrestrial radio “sucks” from an investment standpoint and that satellite radio is more worthy of respect from investors.
According to Reuters Mel Karmazin told analysts at a Merrill Lynch conference that growth has stopped for the terrestrial radio industry, and that Sirius XM is raising more revenue than any radio company in the country aside from Clear Channel.
Karmazin added that a la carte pricing will debut for Sirius XM Oct. 6.
The talk, however, did little to prevent the company’s stock from dropping 10 percent on Tuesday.
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