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Sirius XM Holdings Inc. (SIRI)

  • Wed, Mar. 11, 10:56 PM
    • "Using Live Nation (NYSE:LYV) to differentiate Sirius (NASDAQ:SIRI) and using Sirius to promote Live Nation is very logical," says Liberty Media (NASDAQ:LMCA) CEO Greg Maffei of the two entertainment companies in which his firm is a major shareholder: 57% of SIRI, 27% of LYV. "But I remain somewhat disappointed that more things haven't happened there." Maffei was speaking to the Deutsche Bank conference.
    • Macquarie's Amy Yong agrees: It's not that the satellite radio and concert promotion companies need a merger (which would be complicated by the ownership), but: "If both worked more closely, they can help each other cross promote or market their products/services," she says.
    • There may be opportunities for Sirius to broadcast LYV concerts, and for LYV to promote Sirius among its heavy people traffic, but as for tie-ups: "We are the consolidators," says Live Nation's chief Michael Rapino, preferring to focus on his acquisitions. "Geographically, if there was a ticketing company in the right market that we thought could accel our operation versus building, we'd look."
    | Wed, Mar. 11, 10:56 PM | 5 Comments
  • Fri, Mar. 6, 5:45 AM
    • CBS slipped 1.5% yesterday, and Viacom (VIA, VIAB) another 1.2%, as Deutsche Bank's Brian Kraft weighed in on big media in a spate of coverage updates noted at Benzinga. He expects continued profit growth in the sector, particularly with international expansion.
    • Kraft actually has a Buy on Viacom with an $83 price target (yesterday's close: $70.37). Though the company is starting layoffs (see TV Land) amid widespread ratings issues, Kraft says investor worries about contract renewals are overdone, and its discounted value is attractive.
    • Twenty-First Century Fox (NASDAQ:FOXA) is another buy at a $42 target (yesterday: $34.87), with "best in the sector" three-year prospects for profit growth, as is Time Warner at a $100 target (yesterday: $83.26).
    • He started CBS at Hold with a target of $67 (yesterday: $61.55) and Disney at Hold with a target of $105 (yesterday: $105.03), praising both stocks but suggesting they're a bit overdone.
    • Also getting a Hold was Sirius XM (NASDAQ:SIRI), and Liberty Media (NASDAQ:LMCA) -- whose holdings are now 90% Sirius XM.
    | Fri, Mar. 6, 5:45 AM | 9 Comments
  • Tue, Mar. 3, 8:33 AM
    • Sirius XM (NASDAQ:SIRI) plans an offering of $750M in senior notes due 2025.
    • Proceeds to be used for general purposes, including debt retirement/rollover or stock repurchase.
    • In its Q4 report, Sirius XM noted leverage was steady at about 3.1x EBITDA. The company had $147.7M in cash and equivalents at year's end, against $4.5B in long-term debt.
    | Tue, Mar. 3, 8:33 AM | 8 Comments
  • Wed, Feb. 25, 5:05 PM
    • In Q4 results, Liberty Media (NASDAQ:LMCA) pointed to Sirius XM's (NASDAQ:SIRI) earnings -- Liberty's stake in Sirius XM now stands at 57%, and the SIRI stake represents over 90% of Liberty's market cap -- as well as completing its spinoff of Liberty Broadband in November.
    • Net income on a GAAP basis was $143.1M vs. the prior $65.2M. Adjusted EBITDA was $381.3M, beating an expected $377M and up from the prior year's $325.6M.
    • The company rebought 489K shares of LMCK class from Nov. 1 through Jan. 31, at a cost of $17M.
    • Adjusted OIBDA for Q4 rose to $359M, up from the prior year's $319M. Removing depreciation and amortization, operating income rose to $206M from the prior year's $189M.
    • Cash on a GAAP basis stood at $681M at year's end. Debt, primarily in Sirius XM senior notes, was at $5.85B.
    • Free cash flow was $330.7M compared with the prior year's $303.2M.
    • Press release
    | Wed, Feb. 25, 5:05 PM | 22 Comments
  • Thu, Feb. 5, 9:13 AM
    • Sirius XM (NASDAQ:SIRI) reported a Q4 beat on top and bottom lines as subscribers grew to 27.3M total (up from prior year 25.6M).
    • Net subscriber adds in quarter of 576.7K. Self-pay net adds were 508K, up from prior year's 411.5K.
    • Monthly churn down slightly to 1.8%.
    • Free cash flow reached a Q4 record of $331M ($0.059/share).
    • Operating expenses up 5.6% to $797.3M, with 15% increases in cost of customer service/billing and 21% increase in sales and marketing making up much of the increase.
    • For the full year: Revenues up 10% to $4.18B; Net income was up 31% to $493M; Adjusted EBITDA up 26% to $1.47B; and free cash flow up 25% to a record $1.16B. Share buybacks reached $2.5B in 2014; leverage "remained steady at about 3.1x EBITDA."
    • Shares up 1.9% premarket.
    • Press Release
    | Thu, Feb. 5, 9:13 AM | 17 Comments
  • Thu, Feb. 5, 7:03 AM
    • Sirius XM (NASDAQ:SIRI): Q4 EPS of $0.03 beats by $0.01.
    • Revenue of $1.09B (+9.0% Y/Y) beats by $10M.
    • Press Release
    | Thu, Feb. 5, 7:03 AM | 14 Comments
  • Wed, Feb. 4, 5:30 PM
  • Wed, Jan. 7, 7:28 AM
    • Sirius XM (NASDAQ:SIRI) reports it added 1.75M subscribers in 2014 to top its target of 1.5M.
    • Total self-pay subscribers at the end of the year were 22.5M.
    • The company also expects to beat its 2014 guidance for revenue, EBITDA, and free cash flow.
    • 2015 guidance: Revenue of ~$4.4B; Subscriber growth at 1.2M net; EBITDA of $1.6B.
    | Wed, Jan. 7, 7:28 AM | 7 Comments
  • Nov. 24, 2014, 8:29 AM
    • A federal judge ruled against the request of Sirius XM Radio (NASDAQ:SIRI) in a widely-watched case involving pre-1972 rights to music recordings.
    • The company wanted an immediate appeal in the case over royalties for songs by classic rock band The Turtles.
    | Nov. 24, 2014, 8:29 AM | 16 Comments
  • Oct. 28, 2014, 7:03 AM
    • Sirius XM (NASDAQ:SIRI): Q3 EPS of $0.02 in-line.
    • Revenue of $1.06B (+10.2% Y/Y) beats by $20M.
    • Shares +3.9% PM.
    • Press Release
    | Oct. 28, 2014, 7:03 AM | 1 Comment
  • Oct. 27, 2014, 5:30 PM
  • Oct. 2, 2014, 3:14 AM
    • Sirius XM Radio (NASDAQ:SIRI) will appeal a California federal judge's ruling stating it violated state copyright laws for airing pre-1972 songs by the band, The Turtles, without paying royalties.
    • Last month, U.S. District Judge Philip Gutierrez found that California law gave the band copyright protection, although federal copyright only applies to recordings made after February 1972.
    • The outcome of the case will have wide reaching implications for not only digital music services, but for radio stations and public venues as well.
    | Oct. 2, 2014, 3:14 AM | 2 Comments
  • Sep. 23, 2014, 11:42 AM
    • A judge in California rules that Sirius XM Radio (SIRI +1.6%) violated state copyright laws and may have to pay members of the Turtles royalties for the use of the rock group's hit songs.
    • The case has been closely watched by the music industry with efforts underway to way create an "Oldies Law" for recordings which predate a 1972 federal law.
    | Sep. 23, 2014, 11:42 AM | 11 Comments
  • Sep. 9, 2014, 5:36 PM
    • Sirius XM Radio (NASDAQ:SIRI) +0.8% AH after raising FY 2014 guidance for net subscriber additions to ~1.45M, from previous guidance of 1.25M, reaffirming 2014 guidance for revenue of $4.1B, adjusted EBITDA of $1.425B and free cash flow of $1.1B.
    • SIRI says its outlook for "self-pay" subscriber additions remains at ~1.25M for the year.
    • "The company is executing extremely well, and with this summer's strong new car sales, we now expect to comfortably exceed our previous subscriber target," CEO Jim Meyer says.
    | Sep. 9, 2014, 5:36 PM | 9 Comments
  • Aug. 5, 2014, 7:55 AM
    • Liberty Media (NASDAQ:LMCA) reports its ownership in SiriusXM (NASDAQ:SIRI) grew to 56% in Q2.
    • The company's spinoff of Liberty Broadband is scheduled to occur in 2H of 2014.
    • Under the terms of the spinoff, shareholders will receive one-fourth of a share of the corresponding series of Liberty Broadband common stock for every whole share of Liberty Media's common stock held by them.
    | Aug. 5, 2014, 7:55 AM | 1 Comment
  • Jul. 29, 2014, 7:21 AM
    • SiriusXM (NASDAQ:SIRI) reports its total paid subscribers count ended Q2 up 5% Y/Y to 26.3M.
    • The company has the largest trial funnel in its history at 7.3M subscribers.
    • Adjusted EBITDA margin rate +570 bps to 35.7%.
    • SIRI +3.6% premarket to $3.50.
    | Jul. 29, 2014, 7:21 AM | 6 Comments
SIRI vs. ETF Alternatives
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