Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Sirius Satellite Radio (SIRI) -- Ignore unavailable to you. Want to Upgrade?

To: Esoteric1 who wrote (1103)	11/22/2004 3:58:06 PM
From: Esoteric1	Read Replies (1) \| Respond to of 8420

New Sirius chief Karmazin buys 1.5 mln shares Mon Nov 22, 2004 03:50 PM ET NEW YORK, Nov 22 (Reuters) - Mel Karmazin, the newly appointed chief executive of Sirius Satellite Radio Holdings (SIRI.O: Quote, Profile, Research) purchased 1.5 million shares of the No. 2 pay-radio company's stock at $5.36 a share, sending its stock price rising 15 percent. The radio industry veteran and former president of Viacom Inc. (VIAb.N: Quote, Profile, Research) (VIA.N: Quote, Profile, Research) , who left the company over differences with Viacom CEO Sumner Redstone, is now reunited with ribald radio host Howard Stern. Karmazin told reporters on Friday he planned to purchase the shares as a testament of his faith in the nascent fee-based service and in the No. 2 satellite radio company. He will be paid a base salary of $1.25 million a year and has been granted 3 million shares of retricted stock and options to purchase 30 million shares at $4.72 a share. Shares of Sirius rose 77 cents to $5.94 on the Nasdaq.