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Sirius XM Holdings Inc. (SIRI)

  • Jan. 28, 2014, 11:31 AM
    • SiriusXM Radio (SIRI -0.8%) extends its relationship with Nissan to the end of 2018.
    • The development is not unexpected with Nissan aggressively adding Sirius technology to its new models.
    • The automaker has one of the higher penetration rates for the SiriusXM radio service.
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  • Jan. 7, 2014, 6:46 PM
    • Sirius XM Radio (SIRI +0.8%) has named former DirecTV CEO Eddy Hartenstein, former DaimlerChrysler CEO James Holden, and long-time American Express executive Joan Amble to a 3-person special committee to evaluate Liberty Media's (LMCA +0.4%) $3.68/share bid.
    • SIRI shares closed the day at $3.86, a 4.9% premium to Liberty's bid, as investors continue holding bets that the offer will be boosted.
  • Jan. 7, 2014, 7:53 AM
    • Ralph Nader speaks out about Liberty Media's (LMCA) pursuit of Sirius XM Radio (SIRI) which has stirred some debate.
    • The legendary consumer advocate isn't concerned about the direction of the companies involved, he just thinks the offer is too low for SIRI shareholders.
    • SIRI +0.8% premarket to $3.86 vs. LMCA's bid of $3.68.
  • Jan. 6, 2014, 9:11 AM
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  • Jan. 6, 2014, 8:39 AM
    • Shares of Sirius XM Radio (SIRI) race 7.8% higher to $3.85 in premarket trading following an offer late Friday from Liberty Media (LMCA) to take over the company in a deal which values the company at $3.68 per share.
    • In a conference call with analysts, execs said if the deal is completed it would allow Liberty to start buying back shares at an increased pace.
  • Jan. 3, 2014, 6:24 PM
    • After coming off a halt, Sirius XM (SIRI) is trading at $3.75 after hours in the wake of Liberty Media's (LMCA) offer to assume full ownership of the satellite radio owner.
    • That represents a 5% gain from Sirius' closing price of $3.57, and is 1.9% above the $3.68/share buyout price implied by Liberty's all-stock offer. Some Sirius shareholders might be betting on a better offer arriving.
    • Liberty shares are up 0.5% AH.
  • Jan. 3, 2014, 4:51 PM
    • Liberty Media (LMCA), which already owns a majority stake in Sirius XM (SIRI), is proposing to make Sirius a 100%-owned subsidiary through an all-stock deal. (PR)
    • Liberty proposes to have each Sirius converted into a 0.076 new Liberty Series C shares, and then distribute, on a 2:1 basis, Series C shares to all holders of Liberty's Series A and B shares.
    • The exchange ratio values Sirius at $3.68/share based on Liberty's Friday close; that's an $0.11, or 3%, premium to Sirius' closing price of $3.57.
    • Sirius' public shareholders would own 39% of the new company, which (based on current prices) stands to have a market cap of $27B.
    • Sirius shares are halted. CC at 5PM ET.
  • Jan. 3, 2014, 10:55 AM
    • Shares of Sirius XM Radio (SIRI +2.7%) move higher after Evercore Partners upgrades the company to an Overweight rating.
    • Though today's reports on December auto sales in the U.S. are falling below estimates, the industry demand trend appears to be strong enough to allay any immediate concerns for Sirius.
  • Nov. 25, 2013, 7:17 AM
    • Shares of Sirius XM Radio (SIRI) track higher in early trading after a cover story in Barron's taps the company to see big gains.
    • The company has grown its subscriber base to a formidable 25.6M users and it has the potential to keep growing at a rapid pace with a monopoly in satellite radio firmly in place.
    • Unlike Pay-TV companies, Sirius XM has increased its profit margins with programming costs projected to keep falling even further.
    • SIRI +6.0% premarket.
  • Nov. 4, 2013, 9:57 AM
    • Sirius XM Radio (SIRI +0.1%) completes its acquisition of connected vehicle services concern Agero.
    • The deal should give the company an opportunity to provide services to more major automobile manufacturers.
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  • Oct. 25, 2013, 9:39 AM
    • Sirius XM Radio (SIRI -3.8%) falls after Goldman Sachs downgrades the company to Neutral from Buy.
    • The investment firm maintains its $4.25 price target on shares.
  • Oct. 24, 2013, 7:03 AM
    • Sirius XM Radio (SIRI): Q3 EPS of $0.01.
    • Revenue of $962M (+11% Y/Y) misses by $7.49M. (PR)
  • Oct. 23, 2013, 12:36 PM
    • Honda (HMC -3.2%) extends a contract with Sirius XM Radio (SIRI -0.7%) to Januaury 2020.
    • The terms of the new deal will see a higher percentage of Honda vehicles have SiriusXM installed at the factory.
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  • Oct. 10, 2013, 7:00 AM
    • Sirius XM Radio (SIRI, LMCA) announces it approved a new $2B stock repurchase program.
    • The company says cash on hand, future cash derived from operations, and potential borrowings will be used to fund the buybacks.
    • SIRI -2.6% premarket.
    | Comment!
  • Sep. 24, 2013, 11:32 AM
    • Nissan (NSANY.OB) announces that Apple iTunes Radio will be offered in several new 2014 models to mark the first major deal for the service with an automaker.
    • Though the news isn't likely to move the meter on Apple too much, it could have some impact on Sirius XM radio (SIRI, LMCA) which would just as soon have deals with all the large automakers locked up.
  • Sep. 12, 2013, 6:59 AM
    • Sirius XM Radio (SIRI) faces a lawsuit from Sony, Universal, and ABKCO alleging the company used recordings from before 1972 without permission.
    • The issue revolves around a federal copyright protection law that only went into effect in 1972.
    • If Sirius were to lose the lawsuit, it opens the door for more of the same variety.
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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