Sirius Satellite Radio (SIRI) Message Board

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Technology Stocks : Sirius Satellite Radio (SIRI)

SIRI 21.03

-2.8%

Jan 7 3:59 PM EST

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From: Sirius_Rich	1/11/2006 7:17:35 PM
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Merrill Lynch says: Selling for tax obligations possible Howard Stern and Don Buchwald are required to pay income tax on the shares directly to the IRS. Assuming a 40-45% tax rate, we estimate that Howard Stern has an $80-90mm tax liability and his manager has an $8-9mm liability (1% of market cap or 14mm shares compared to the average daily trading volume of 40mm), which could require them to liquidate some of the Sirius shares. Nonetheless, we do not believe share sales signal his loss of confidence in the company.

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