SATWAVES

SIRI: A look At Sirius XM Radio’s Debt Refinancing (Part 2)

By Brandon Matthews (Please read part 1 first) In part 1, I hope to have conveyed some information on negative debt covenants, the capital structure of Sirius XM Radio (NASDAQ: SIRI) and highlighted its improved debt maturity schedule. The negative debt covenants written within the notes that will soon be retired are too numerous to discuss within a single report. However, There is another specific "negative covenant" that I would like to highlight. This one has to do with potential synergies...

Weak Auto Sales Causing “Sirius” Concern

By Brandon Matthews Shares of Sirius XM Radio (NASDAQ: SIRI) have been one of the largest benefactors of an expected recovery in the auto sector. Unfortunately, that recovery has not yet materialized. From a satellite radio perspective, January new car sales data came in weak. Projections for February now appear even weaker. Last week, Edmunds.com projected modest rises to be reported this week when compared to the lows established in the sector last February, and suggested that the numbers s...

Potential Buyout Of Sirius XM (SIRI) By Liberty Capital (LCAPA)

By Brandon Matthews Sirius XM Radio (NASDAQ: SIRI) valuations are becoming a concern throughout the analyst community. In an interview with CNBC's David Faber, RBC Capital Analyst David Bank stated that Sirius XM shares are fairly valued at about $1.15. According to CNN, Wunderlich's Matthew Harrigan noted that "the stock is getting a little frothy," and Jim Goss commented that "there really is no rational process for valuing this stock." This is not surprising in the wake of Sirius XM's extr...

Liberty CEO: Sirius XM To Be Very Profitable, NOL’s Will Be Consumed By Earnings

By Brandon Matthews Liberty Media (NASDAQ: LMDIA) President and CEO Greg Maffei presented at the Citi 20th Annual Global Entertainment, Media, and Telecommunications Conference Wednesday, January 6 from the Palace Hotel in San Francisco, California. In 2009, Liberty Capital (NASDAQ: LCAPA) took a 40% stake in Sirius XM Radio (NASDAQ: SIRI). Since the time of Liberty's investment into Sirius XM, many have speculated that the target of Liberty's acquisition were the $7 Billion in net operati...

Sirius XM And The Not-So-Smart Phones

By Chris Stepanik The critics of Sirius XM Radio (Nasdaq: SIRI) have finally come full circle. Seven years ago, I began following the Satellite Radio provider. As the company neared its first one million subscribers, the "glass half empty" critics began to emerge and brilliantly announced through anonymous message board postings, that Internet Radio and 2G/3G cell phone technology would be the demise of any competing entertainment medium. According to their calculations, Satellite Radio was d...