Seeking Alpha

Sirius XM Holdings Inc. (SIRI)

  • Thu, Nov. 19, 4:03 PM
    • Sirius XM (NASDAQ:SIRI) is launching a new weekly feature in partnership with YouTube to promote discovery of country songs.
    • The "YouTube Country Spotlight" will choose a trending country song based on YouTube viewership data, and highlight it on Sirius' On The Horizon show each week. The two are launching the feature this Saturday on its new-country station "The Highway."
    • The move could presage more collaboration on promoting new artists; Sirius says it has a great response to shows The YouTube 15 (on the Hits 1 channel) and The YouTube EDM 15 (on its dance music channel BPM).
    | Thu, Nov. 19, 4:03 PM | 14 Comments
  • Thu, Nov. 12, 2:56 PM
    • Sirius XM (SIRI -0.6%) says it's hoping to get a renewal from flagship radio host Howard Stern next month when his contract expires, but at least the company knows what it comes down to: money.
    • Speaking from the investor day of majority owner Liberty Media (LMCA +1.8%), Sirius chief James Meyer said he's happy with the show's quality and the two sides disagree on just "one thing," the valuation of the new deal. Stern is estimated to get about $80M/year currently.
    • Buybacks (currently about $2B worth a year) are the "best use of our capital," Meyer says. "We just haven't found anything that magically fits" in the space where acquisitions are clearly strategic or clearly accretive, he says.
    • Earlier, Liberty Media said it would recapitalize into three tracking stocks, one of which will be Liberty Sirius Group to track its 60.7% holding in Sirius XM.
    • Previously: Liberty Media to recapitalize into three tracking stock groups (Nov. 12 2015)
    | Thu, Nov. 12, 2:56 PM | 37 Comments
  • Thu, Oct. 22, 9:08 AM
    • Sirius XM (NASDAQ:SIRI) is up 1% premarket after a third quarter where it grew revenues 11% to a record and increased profits 23%, and increased guidance yet again.
    • Subscribers hit an all-time high of almost 29M. Adjusted EBITDA of $447.2M was up 17% to a record high and beat an expected $427.8M.
    • Revenue by segment: Subscriber revenue, $974.5M (up 8%); advertising revenue, $33.1M (up 31%); equipment revenue, $25.9M (up 11.9%); other revenue, $136.2M (up 28.3%).
    • Added 525K net new subscribers (up 21%), and 381K self-pay net subs (flat). Total paid subscribers grew 8% to about 29M, and self-pay subs grew 8% to 23.8M.
    • Free cash flow of $369M (excluding effect of settlement of pre-1972 recordings litigation) up 38%.
    • It bumped full-year guidance yet again, and now expects revenues of $4.53B and adjusted EBITDA of $1.65B (slightly below a consensus of $1.68B). It's seeing full-year net subscriber adds of 2M and self-pay adds of more than 1.6M.
    • Press Release
    | Thu, Oct. 22, 9:08 AM | 23 Comments
  • Thu, Oct. 22, 7:01 AM
    • Sirius XM (NASDAQ:SIRI): Q3 EPS of $0.03 in-line.
    • Revenue of $1.17B (+10.4% Y/Y) beats by $20M.
    • Press Release
    | Thu, Oct. 22, 7:01 AM | 17 Comments
  • Wed, Oct. 21, 5:30 PM
  • Wed, Oct. 7, 4:42 PM
    • Sirius XM (NASDAQ:SIRI) has gotten a six-year extension on its deal with the NFL, a partnership it's had for more than 10 years.
    • The company will continue broadcasting every game live through Super Bowl LVI in 2022, and keep featuring its 24/7 channel (SiriusXM NFL Radio) dedicated to the NFL.
    • The deal is a broadcast and marketing partnership, and also means that its NFL Radio programs are now available on demand, giving subscribers access to the back catalog of episodes and interviews.
    • Shares fell 0.5% today and have rebounded slightly in after-hours trade, +0.3%.
    | Wed, Oct. 7, 4:42 PM | 1 Comment
  • Mon, Oct. 5, 8:29 PM
    • Sirius XM (NASDAQ:SIRI) gained 1% today to close at $3.87, its highest point in three weeks.
    • Buckingham Research is recommending getting exposure to the company, which it has Buy-rated -- but instead through Liberty Media (NASDAQ:LMCA) rather than a direct purchase.
    • The vast majority of Liberty's market cap has been tied up in holding a majority stake in Sirius XM (59.4% as of July 24). And while Sirius is market priced, Buckingham says, Liberty Media's at a 17% discount to net asset value.
    • Analyst James Ratcliffe has a $4.50 price target on Sirius XM; that implies 16%-plus upside from today's close. He has a $48 target on Liberty Media, which closed today up 1% to $37.55, implying 28% upside.
    • Previously FBR had reiterated its Outperform rating on Sirius XM in looking at strong auto sales providing a good funnel. Buckingham agrees, expecting an above-guidance 1.95M net added subscribers for 2015.
    | Mon, Oct. 5, 8:29 PM | 29 Comments
  • Fri, Oct. 2, 5:18 PM
    • Sirius XM (SIRI +1.1%) has gotten its Outperform reiterated at FBR, as the analysts got a look at September light-vehicle sales in the U.S.
    • The strength in auto sales could push subscription levels over previous estimates, FBR says.
    • The firm has a $6 price target on SIRI; from today's closing price of $3.83, that implies 56.7% upside.
    • Elsewhere, the company announced a pair of new shows: Train singer Pat Monahan will host a new weekly show on The Pulse, and The Bill Carter Interview -- featuring the media commentator sitting down to talk with notables in entertainment and current events -- will debut on Oct. 5 with Jimmy Kimmel, to be followed by Jimmy Fallon in week two.
    | Fri, Oct. 2, 5:18 PM | 17 Comments
  • Fri, Sep. 18, 10:56 AM
    • Sirius XM (NASDAQ:SIRI) is selling back and forth just in positive ground following an initiation at Buy by Gabelli, with a price target set at $4.75.
    • Shares closed yesterday at $3.86, implying 23% upside.
    • One bull bet on the company yesterday in a big way: 21,000 November 4 calls bought yesterday in a single print. Total call volume on Sirius XM was over 22,700, over nine times its daily average.
    • The stock's at almost the same price it was two years ago ($3.87 on Sept. 18, 2013).
    • The company is expected to release Q3 earnings on Oct. 26.
    | Fri, Sep. 18, 10:56 AM | 17 Comments
  • Wed, Aug. 26, 4:27 PM
    • Sirius XM (NASDAQ:SIRI) is up 1.3% after hours (adding on to today's 2.5% gain) as it adds another $2B onto its stock repurchase authorization.
    • That lifts the buyback authorization to a lofty $8B. An initial $2B authorization in December 2012 was supplemented with $2B additions in October 2013 and July 2014.
    • The company says it's got sufficient capital capacity to return value to shareholders while making long-term investments and pursuing strategic opportunities.
    • Most recently, the company reported $294M cash against total debt of $5.1B.
    | Wed, Aug. 26, 4:27 PM | 20 Comments
  • Tue, Aug. 4, 5:51 PM
    • Sirius XM Canada (OTC:SIICF) -- a Canadian affiliate of Sirius XM Holdings (NASDAQ:SIRI) -- says its CFO is leaving the company.
    • Michael Washinushi is exiting his post to pursue other business opportunities. He'll stay on full-time until Sept. 4 and then act as an adviser to smooth any transition.
    • The company has begun a search for Washinushi's replacement. "We have a very skilled finance team, many of whom have been with the Company for numerous years," says CEO Mark Redmond. "In addition, finance expertise runs deep across our Board of Directors ... we are confident the Company has the bench strength it needs and will be well supported."
    | Tue, Aug. 4, 5:51 PM | 1 Comment
  • Tue, Jul. 28, 8:56 AM
    • Sirius XM (NASDAQ:SIRI) is up 3.1% premarket after growing revenues and subscribers in Q2, and raising guidance across the board for the full year.
    • Revenues that grew nearly 8% led to net income of $103M, including a pretax $108M royalty litigation settlement. Adjusted net income was $170M (up 29%). EBITDA of $415M (up 12%) was a quarterly record and beat an expected $412M.
    • Revenue by segment: Subscriber revenue, $940M (up 7.1%); advertising revenue, $28.8M (up 13.1%); equipment revenue, $29.3M (up 6%); other revenue, $125M (up 20.1%).
    • It added 692K net new subscribers (up 46% Y/Y); 519K self-pay net new adds were up 36.6%. Paid subscribers rose to 28.4M and self-pay subscribers to 23.4M (record highs).
    • After "phenomenal on all fronts" performance in the first half, it's guiding for increases across the board for 2015: total net sub adds of 1.8M (1.6M net self-pay adds); revenue of $4.5B (in line) and EBITDA of about $1.62B (vs. an expected $1.645B), and free cash flow of about $1.3B. It's the second time the company has raised guidance this year for subscriber growth.
    • Press Release
    | Tue, Jul. 28, 8:56 AM | 62 Comments
  • Tue, Jul. 28, 7:03 AM
    • Sirius XM (NASDAQ:SIRI): Q2 EPS of $0.03 in-line.
    • Revenue of $1.12B (+7.7% Y/Y) in-line.
    • Press Release
    | Tue, Jul. 28, 7:03 AM | 13 Comments
  • Wed, Jul. 8, 11:44 AM
    • Sirius XM (SIRI -1.1%) has formed a new employment agreement changing the title of David Frear to senior executive VP and CFO, and extending him until May 31, 2018.
    • The deal also grants Frear options on 14.25M shares of common stock, vesting annually over the next three years.
    • Frear's cash compensation at last report was $2.45M/year.
    | Wed, Jul. 8, 11:44 AM | 16 Comments
  • Fri, Jun. 26, 9:58 AM
    • Sirius XM (SIRI +0.3%) says it reached a $210M settlement with major labels to resolve a royalty lawsuit over pre-1972 recordings.
    • The company came to agreement with Universal, Sony, Warner, and independent ABKCO to settle some uncharted territory, since federal copyright law doesn't predate 1972.
    • The deal settles past infringements and provides for Sirius XM to play the labels' old songs through 2017. Sirius XM can also make new licenses with them through 2022.
    • The company says the labels represented to SIRI that they "own, control or otherwise have the right to contract with respect to approximately 80% of the pre-1972 recordings we have historically used."
    • A similar case brought by Flo & Eddie (founders of the Turtles) is separate and unresolved.
    | Fri, Jun. 26, 9:58 AM | 34 Comments
  • Wed, Jun. 24, 7:04 PM
    • Sirius XM (SIRI -1.3%) is getting a first, via a deal with Fox (FOX, FOXA) an all-news channel coming this fall.
    • Fox News Headlines 24/7 will also be the country's only national 24-hour live news channel, providing a satellite counterpart to the local news that terrestrial radio listeners can hear.
    • It's staffing around the clock and will focus on breaking news -- to the exclusion, Fox says, of any of the political opinion/commentary that populates much of Fox's cable news channel.
    • Sirius XM does, however, feature Fox News Talk, which is an opinion-driven station shared with terrestrial radio.
    | Wed, Jun. 24, 7:04 PM | 11 Comments
Company Description
Sirius XM Holdings Inc broadcasts its music, sports, news, talk, entertainment, traffic and weather channels in the United States for a subscription fee through its proprietary satellite radio systems.
Sector: Services
Country: United States