Mel Karmazin talking Sirius on Mad Money Main Event
Quotes may not be 100% accurate as I'm sans-tivo now.
Q&A With Mel Karmazin:
Karmazin: "Since black Friday i've seen what the numbers look like. There is no question that Howard is worth what he is being paid. As a matter of fact if he were to renegotiate today he'd get more money."
Q (Cramer): When we'll you break even?
A: 4Q06 we believe we'll have free cash flow positive and all of '07 and beyond that.
25 analysts follow the company. All of them believe that both companies will be profitable, very profitable.
Q: How do you position Howard?
A: He's now for the first time truly national. The most he's ever been on was 45% of the company.
Q: What is the status of negotiations with Fox News?
A: We're big fans of Fox News, we're having discussions with them. The question is whether or not we can get comfortable with the price we need to pay.
Cramer's bottom line: BULL. I think this stock goes higher and I think this guy is worth every single penny that he has created.
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This posting originally available on www.reasonedinvesting.com
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I am soon to be an Ex-Sirius subscrber because they dropped Fox News. I don't know why they did it. I hope it isn't soome pathetic political statement on Sirius' part. They have CNN, HNN, BBC, CBC (Canadian Broadcast Comapy), NPR all very liberal and they drop FOX? Seems fishy to me! Perhaps they want to be viewed as the Liberl Satelite Network.
Mike G -
I subscribe to Sirius as well. Last I heard they were in the process of negotiationg with FoxNews to get the network back on air as quickly as possible.
