Posted on 01/07/2008 10:17:04 AM PST by BurbankKarl
XM Satellite Radio Holdings Inc. will no longer broadcast the Starbucks XM Cafe channel after ending a marketing agreement with the coffee chain operator, the company said in a regulatory filing Monday.
As part of the breakup, Starbucks has the right to sell $22 million in XM shares. At the time of the filing, that amounted to about 1.85 million shares, which represents less than 1 percent of XM's total 314.2 million shares outstanding at the end of September.
XM said in the filing that if Starbucks does not realize $22 million from the stock sale, XM may be forced to issue more shares to Starbucks or pay the difference in cash.
XM shares plunged $1.40, or 11 percent, to $11.36 in midday trading. In the past year, the stock has ranged from $10.37 to $17.70.
(Excerpt) Read more at biz.yahoo.com ...
Get ‘em while you can, before they are de-listed!
I wonder if pay radio survives?
It probably will. XM’s got the problem that its content has the commercials (thanks to Clearchannel, where they’re getting most of their content from) that people left broadcast radio to get away from.
Sirius has better content, IMHO. And there’s no commercials at all.
I love Sirius. I hope it stays around. Much better selection of music than the crap on terrestrial radio. And the conservative talk station isn’t bad either.
If Sirius took over would they get hit with an anti-trust suit.
One of the reasons that I got XM was because there were little or no commercials. The increase in advertising is becoming more and more of an annoyance to the point that when the shilling comes on, I flip the radio to one of my pre-recorded excerpts(usually one of the comedy channels). I was unaware that Sirius was commercial free. Time to take a good look at Sirius
I just can’t bring my self to pay for Sirius radio, I dislike Howard Stern that much.
Actually, the Sirius-XM merger is currently in the middle of regulatory approval as the shareholders have given the go-ahead.
http://en.wikipedia.org/wiki/XM/Sirius_merger
XM desperately needs the merger to even partially stay alive. Being associated with GM hasn’t helped, and XM Navtraffic hasn’t taken off like they (or I) thought it would.
XM was initially commercial free (because they were editing the Clearchannel content) but then Clearchannel sued them and won - so now XM has to air *all* the Clearchannel ads. Ooops.
Sirius is smaller but IMHO more successful because they’ve built their own content from the ground up. My favorite channel on Sirius is just like being back in LA in the 80s and 90s - they hired many of the old KROQ deejays to play the music they premiered and pioneered. It’s great - and there are no commercials.
Eeh, yeah that’s one negative. However, the content is better than XM overall.
Hair Nation?
Ugh, no.
FirstWave.
That is good if it is allowed. If there are no othersin the business I don’t see why not.
To counter that, though, Sirius has these people: Michael Reagan, Mike Church, Bill Bennett and G. Gordon Liddy.
LOL! Call me weird, but I like BOTH stations. ;-)
Nobody else seems to be interested in going orbital. [shrug]
Honestly, I’m actually hoping that the merger is not approved and that XM goes down in flames. If the merger goes through, there *might* be Clearchannel ads on Sirius, and I don’t want that.
The music is OK, but all the HairNation deejays need to be set on fire.
With all the Aqua Net that might be dangerous...LOL...
Sirius is great. Much better than XM. I really appreciate the lack of advertisements.
They took one of their classical stations and played great classical/sacred Christmas music from Thanksgiving through Christmas.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.