Sirius XM Radio Media Conference Highlights

For those of you looking for the words Apple (AAPL) or Microsoft (MSFT), you can stop right here. Although the iPod was briefly mentioned, it was only briefly touched on in a sense that any deals would have to be beneficial to Sirius XM (SIRI) shareholders.

Stating that Wall Street has avoided investing in media companies citing the fact that “they suck,” Mel outlined the 13% growth in Satellite radio as compared with the -3% growth of terrestrial.

One exciting point to the presentation is a firm date of October 6, 2008 for “a la carte” radios and “best of programming packages” to hit the market. “Best of both” packages will include, as expected, the most sought after programming.

•  SIRIUS on XM                            XM on SIRIUS
      Howard 100                            NBA *
      Howard 101                            NHL Home Ice *
      Martha Stewart Living           Oprah & Friends
      Radio                                       The Virus
      SIRIUS NFL Radio *              Public Radio with Bob Edwards
      SIRIUS NASCAR Radio        College Sports *
      Playboy Radio                         PGA Tour

One of the first points I made when the merger was approved was my feeling that Sirius XM should use this opportunity to seek out those customers who have not subscribed because their car happened to come with the wrong radio. As of October 6, Sirius customers will be able to access the NHL and Opie and Anthony. That’s right, it looks like O & A are going to stay! As for XM subscribers, October 6th brings not only Howard Stern but the NFL on XM! In my opinion, this is a huge opportunity for Sirius XM going forward.

October 6th is also the date for “a la carte” radios to hit the store shelves. Yes, you read that right! Well before “black friday!” This should bode well for the holiday season. Mel also hinted about a brand new XM wearable that will be debuting soon, calling it “really cool!”

A few other details, include an expected increase in merger synergies, although Mel still insists on being “conservative” by his own admission, stating that he’d rather miss to the downside than the upside. The company has now increased the expected merger related synergies from 400 million to 425 million dollars. The company spent a lot of time detailing line by line each and every area in which various synergies would be found.

He also dealt extensively with February 2009 converts and stated that there will be no dilution as a result. He made it clear that the converts will be repurchased through cash on hand, bank loans and even implied a willingness to loan the company the money himself if it came to that due to a tight credit market.

Of course Mel addressed everything you’ve heard or read discussed here on SiriusBuzz and SiriusBuzz Radio regarding OEM penetration rates and the like, but I’ll let the copy and paste guys tell you about that.

An audiocast of Tuesday’s presentation by SIRIUS XM at the conference is available at the investor relations section of the company’s website, www.sirius.com. The audiocast will continue to be available until 5:00 pm, ET, on Tuesday, September 16, 2008.

Position: Long SIRI

Comments

[scotty48:]

Blah, Blah, Blah, .99 cents and falling

2008 Sep 10 10:09 AM

[Crest Investor:]

I told you guys it was going to a dollar.
Next stop $0.50

2008 Sep 10 10:16 AM

[Leistonlegend:]

Well I for one cant wait till 4th qtr report... Mel always understates these things then beats the low estimates... in my opinion.. it's good. I can wait a little while longer i guess. the company is not going to go bankrupt we all know that by now. the only thing we have to worry about is delisting.

2008 Sep 10 10:17 AM

[shure46:]

ya , this is getting scary .......I have a lot of shares @3.90 average .....I am not feeling good right now ........and really , if anyone had faith in this stock they would be buying the hell out of it @1.00 a share .........and frankly , I don't give a damn if the stock goes down to 2 cents , as long as siri does not go bankrupt and pull the rug out ........I can wait , and I just want this stock to hit 4 bucks again one day .....I would be plenty happy with that ..........so what's your opinion ???? 4 bucks ?????? or Bankruptcy ..........which of these will siri see first ?????? I hope 4 bucks , but things are lookin' tough right now ...........I just hope the "plan" is to drive this stock as low as they can , and then buy the hell out of it ............then again , the plan may be to pull the rug out from under us , and re-organize , with a "clean slate" ..........with us , the common shareholders , being the "slate" that gets wiped "clean"

2008 Sep 10 10:32 AM

[killerkaul:]

The Big Blue Dog says ............ those of you with strong hearts, will be handsomely rewarded.

2008 Sep 10 10:34 AM

[killerkaul:]

Seeking Alpha.................... we need the advice of 163888. Set him free. Cos1000 should not have to carry the entire load. Set 163888 free.

2008 Sep 10 10:37 AM

[Ishortyou:]

is it going to the pink sheets?

2008 Sep 10 10:38 AM

[connorport:]

buy! buy! and buy some more! the risk at this point is very minimal but the upside gains should be astronomical. if you own sirius at higher levels, this is the time to reposition yourself to cover the uppers. everyone has their own opinion including the analysts which when i last checked are still punching a clock and not fishing or golfing 7 days a week so whos opinion do you take. i say, take your own opinion and do whats right for you. i dont want to be like these analysts who work, i want to be retired. remember, a great stock broker is a 40year old retired stock broker and thats who i want advise from. other than that its just you, here rolling the dice like the rest of us. i hope everyone with a positive attitude here see huge gains in the next couple of years. its coming if you have the guts and patients.

2008 Sep 10 10:42 AM

[Chapter 11:]

Are you kidding!
"buy buy buy"!
If you do, you will go "broke broke broke"!

You were all warned a month ago by Vic of value, myself and others to get out and save what you have left.

Welcome to penny stock land. If it stays this way for a month this stock will be de-listed and you will be screwed even more!
-
Have a good day !

: )

2008 Sep 10 11:13 AM

[Leistonlegend:]

Hey chapter 11, If you dont have any SIRI stock then why do you still follow this company around and post everywhere it pops up. ??

2008 Sep 10 11:23 AM

[Chapter 11:]

I use to own Siri stock. I come back from time to time just to see why people are still holding this stock.

2008 Sep 10 11:27 AM

[Chapter 11:]

I check all my investments in the morning before I goto work. This is just one stock I no longer own. But it keeps me entertained !

2008 Sep 10 11:29 AM

[Leistonlegend:]

Cause its the stock market... thats what people do, buy stock

2008 Sep 10 11:30 AM

[Carousel:]

chapter11 it seems you are a fear monger... you a shorter?
The delisting process can start after a stock trades below $1 but it takes much longer before the company will get delisted
t this point, Nasdaq's Listing Qualifications Department will send a deficiency notice to the company, informing it that it has 90 calendar days to get up to standard in the case of the market value listing requirement or 180 calendar days if the issue is regarding the minimum bid price listing requirement. The minimum bid price requirement, which is $1, and the market value requirement (minimum $5 million, provided other requirements are met) are the most common standards that companies fail to maintain. Exchanges typically provide relatively little leeway with their standards because most healthy, credible public companies should be able to meet such requirements on an ongoing basis.

2008 Sep 10 03:34 PM

[Carousel:]

So although it is something to be on the radar ... dont make comments without telling the whole story ... well that depends on your character really

2008 Sep 10 03:36 PM

[killerkaul:]

OUCH!!!

2008 Sep 11 11:16 AM