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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR) -- Ignore unavailable to you. Want to Upgrade?

To: HEXonX who wrote (3258)	2/20/2007 8:58:05 AM
From: HEXonX	Read Replies (1) \| Respond to of 3386

News for 'SIRI' - (=DJ Mel Karmazin Still Making Radio Waves) By Anthony Lazarus Guess who's running the show in radio again? Mel Karmazin began his career selling radio ads as a teenager, then ran Infinity Broadcasting for most of the 1980s and 1990s, headed the radio and television properties for CBS and toiled under Sumner Redstone at massive media conglomerate Viacom Inc. (VIA, VIAB), before quitting in June 2004. He went to work for a fledgling firm called Sirius Satellite Radio Inc. (SIRI). The company announced in early January that it had its first-ever period of positive free cash flow in the fourth quarter of 2006. With the merger agreement Monday between Sirius and XM Satellite Radio Holdings Inc. (XMSR), Karmazin, the chief executive of Sirius, is vaulting himself to the forefront of a burgeoning market in new media and technology. In a statement, Karmazin called the combination of the two satellite-radio providers "the next logical step in the evolution of audio entertainment." The deal would spur the introduction and development of lower-cost, multifunctional devices, he said, and from "efficiencies in chip set and radio design and procurement" the merger would lead to innovation, which is "essential to remaining competitive in the consumer electronics-driven world." Basically, the 63-year-old Karmazin - who will run the combined XM and Sirius - is saying he isn't exiting the stage anytime soon. In fact, he's brought the spotlight back on him and on satellite radio. He's made similar moves before. In selling Infinity to Westinghouse for $3.7 billion in the summer of 1996, Karmazin combined the two big players in radio at the time and put himself in charge. In joining Sirius in November 2004, Karmazin said that he wanted to join a "growth company that can reshape the landscape of the radio business." A little more than two years later, he's got his wish - the combined XM and Sirius will have 14 million customers. Sirius reported it ended 2006 with just more than 6 million subscribers of its service. -Anthony Lazarus; 415-439-6400; AskNewswires@dowjones.com (END) Dow Jones Newswires February 20, 2007 06:39 ET (11:39 GMT) Copyright (c) 2007 Dow Jones & Company, Inc.- - 06 39 AM EST 02-20-07Source: DJ Broad Tape