Sirius Satellite (SIRI) to broadcast NASCAR races; purchases rights for only $107 million

| About: Sirius XM (SIRI)

Sirius Satellite (NASDAQ:SIRI) announced a five year agreement to broadcast NASCAR races beginning in 2007.  Sirius purchased the exclusive rights for $107 million.

Quick comment:  In its never-ending quest to irrationally outspend rival XM Satellite Radio (XMSR), SIRI has made another brilliant move at a bargain basement price (compared to Howard Stern's $500 million payday).  I'll admit that I'm not much of a car racing fan, but as boring as it may be to watch cars drive around in a circle, listening to them on the radio seems far worse.


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Tagged: , Broadcasting - Radio
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