Sirius XM Satellite Radio chief Mel Karmazin on Tuesday stopped by the annual Reuters Global Media Summit to talk about his company, its future and to occasionally go down memory lane on a range of what if’s.
Fans of Howard Stern hoping to hear whether the shock jock will stay at Sirius XM might be disappointed if they tune into his channels, Howard 100 and Howard 101 Thursday afternoon. The Internet was atwitter after a web report said Stern was set to announce where he was taking his talents once his $500 million contract expires this year.
By most accounts, the 88 percent revenue share Yahoo will collect from its advertising partnership with Microsoft is a pretty darn good number. Obviously, 90 percent is even better. And that’s exactly the share of revenue that Microsoft will pay Yahoo in the second half of their 10-year deal, according to a regulatory filing.******The filing casts more light on the details of the partnership. It also seemed to give a lift to Yahoo, whose stock rose slightly in early trade.******Here are five other key points from the filing …*** *** At least 400 Yahoo staffers will join Microsoft. The two companies will select an extra 150 employees to help with Yahoo’s transition to Microsoft’s search technology.
*** A definitive agreement is due to be signed by October 27, or they head for an arbitration panel.
*** Microsoft is paying Yahoo about $50 million a year during the first three years of the deal to help with transition costs.
*** The deal is limited to web sites, applications and “other online digital properties designed for use and consumption on personal computers.” But Yahoo can receive Microsoft mapping and mobile search if it wants.
*** Yahoo can kill the deal if the Yahoo and Microsoft’s share of the U.S. query market falls below a certain level. Either party can terminate the deal due to repeated material breaches of the agreement.
***If you want more information on these provisions, or others, have a look here.******Keep an eye on:***
What’s the Wall Street Journal’s policy when it comes to story embargoes? PaidContent has the latest rundown (paidContent.org)
Google is doing a little wheeling and dealing. It is buying On2 Technologies, and has sold its Google Radio Automation business (Reuters)
Sirius XM Radio’s stock has been on a run this week. Seems that investors are looking past what will likely be quarterly loss and focussing instead on new initiatives like “cash for clunkers” (Reuters)
*** Looking for a less expensive digital book reader? Sony’s hoping to please (Reuters)
So after two weeks of following all the twists and turns of Sirius XM’s attempts to avoid bankruptcy, CEO Mel Karmazin decided on John Malone, founder of Liberty Media, to come in as Sirius XM’s white knight with a $530 million loan . The loan will cover the satellite radio provider’s looming debt and help it avoid bankruptcy. As part of the deal Liberty will eventually take a 40 percent stake in Sirius’ equity.
Will it survive? That’s the main question looming over today’s official news that Live Nation will indeed buy Tickemaster Entertainment, a deal that has been much in the news this week.
If you’re an old Sirius or former XM subscriber who lost one or more of your favorite channels after the two satellite radio companies merged earlier this year, CEO Mel Karmazin has a message for you: Tough luck, it’s for the greater good.
We’re not entirely sure if the current round of leaks will lift Sirius XM out of its $1.40 per share doldrums, but screenshots of a new iPhone application in development that will let users stream Sirius XM radio stations could put a new shine on the company.