It's not often that a company with a stock trading for just six cents a share makes headlines. But when that company just happens to be the employer of Howard Stern, you can understand why it's in the news.
As part of an effort to share the best practices of modern business among organizations across the globe, CNN is talking to some of the world's top executives.
As part of an effort to share the best practices of modern business among organizations across the globe, CNN is talking to some of the world's top executives.
Operating from its corporate headquarters in New York City's Rockefeller Center, Sirius Satellite Radio broadcasts over 130 digital-quality channels, including 69 channels of commercial-free music, plus exclusive channels of sports, news, talk, entertainment, traffic, weather and data to more than 7.1 million subscribers.
He's a media maverick. A man who has been shaking the establishment for much of his career. Mel Karmazin began his professional life in radio in New York City, and over the next 40 years built a coast-to-coast business, ran the CBS network, and more recently became a driving force in one of America's newest media ventures, satellite radio.
Mel Karmazin has proven throughout his career that he's a world class salesman. But with the merger of the nation's two satellite radio broadcasters Sirius and XM nearing its once-improbable completion Karmazin has a real sales challenge: Convincing investors that there's a profitable future ahead for a medium that has conspicuously failed to turn a profit at any time since it was founded a decade ago.
Satellite radio providers Sirius and XM said Monday they can offer consumers a variety of subscription packages that cost up to 46 percent less than current plans if their merger is approved.
Consumers and investors currently can choose between two satellite radio companies. And although Sirius Satellite Radio and XM Satellite Radio are hoping to change that, Wall Street appears to be betting that their merger is not going to get approved.
It's not often that a company with a stock trading for just six cents a share makes headlines. But when that company just happens to be the employer of Howard Stern, you can understand why it's in the news.
As part of an effort to share the best practices of modern business among organizations across the globe, CNN is talking to some of the world's top executives.
As part of an effort to share the best practices of modern business among organizations across the globe, CNN is talking to some of the world's top executives.
Operating from its corporate headquarters in New York City's Rockefeller Center, Sirius Satellite Radio broadcasts over 130 digital-quality channels, including 69 channels of commercial-free music, plus exclusive channels of sports, news, talk, entertainment, traffic, weather and data to more than 7.1 million subscribers.
He's a media maverick. A man who has been shaking the establishment for much of his career. Mel Karmazin began his professional life in radio in New York City, and over the next 40 years built a coast-to-coast business, ran the CBS network, and more recently became a driving force in one of America's newest media ventures, satellite radio.
Mel Karmazin has proven throughout his career that he's a world class salesman. But with the merger of the nation's two satellite radio broadcasters Sirius and XM nearing its once-improbable completion Karmazin has a real sales challenge: Convincing investors that there's a profitable future ahead for a medium that has conspicuously failed to turn a profit at any time since it was founded a decade ago.
Satellite radio providers Sirius and XM said Monday they can offer consumers a variety of subscription packages that cost up to 46 percent less than current plans if their merger is approved.
Consumers and investors currently can choose between two satellite radio companies. And although Sirius Satellite Radio and XM Satellite Radio are hoping to change that, Wall Street appears to be betting that their merger is not going to get approved.
Sirius Satellite Radio chief executive officer Mel Karmazin went to Capitol Hill Wednesday to tell Congress why his company's plan to merge with rival XM Satellite Radio should be approved by regulators.
The top executives from Sirius and XM took their first steps to reassure Wall Street Tuesday that a deal will pass muster with regulators - but investors appear to have doubts about whether the proposed merger will go through.
The chief executive officer of Sirius Satellite Radio told investors Wednesday that he would be open to a combination with his company's top rival, XM Satellite Radio.
What a long strange trip it's been - lately! Whew! Like being shot out of a cannon... As you may know, I was made managing editor of Fortune Magazine as of 10/31/06 (that's right on Halloween!). Needless to say I'm thrilled. It's a great honor to be heading up such a fabulicious journalistic organization. A rush, in fact. So Street Life took a few weeks off, and it's back as Captain's Blog. It will likely be morphing and growing and changing along the way. As it should be!
Summer was once a quiet time in the media world. "Things used to slow down," an ad agency honcho sighed the other day. "You used to be able to leave early on Friday afternoon." Not this year. While...
Summer was once a quiet time in the media world. "Things used to slow down," an ad agency honcho sighed the other day. "You used to be able to leave early on Friday afternoon." Not this year. While executives may long for an escape to the beach, they've got some heated conflicts to resolve first. A sampler:
Sirius Satellite Radio Inc. Chief Executive Mel Karmazin said Monday he would like to buy archrival XM Satellite Radio Holdings Inc., but price and regulatory hurdles would be issues.
ANYBODY COULD SEE THAT MEL KARMAZIN WAS miserable in his final days as Viacom's chief operating officer. The former Wall Street darling had struggled unsuccessfully to keep the company's stock alof...
Mel Karmazin was miserable in his final days as Viacom's chief operating officer. The former Wall Street darling had struggled unsuccessfully to keep the company's stock aloft, lost his power struggle with Viacom CEO Sumner Redstone and finally left Viacom in June 2004. But he has returned from the depths, and he's never been happier.
Before my interview with Hugh Panero begins, XM Satellite Radio's CEO informs me that, no matter how relentlessly I pummel him, our session is bound to be a breeze compared with the grilling he's j...
It used to be that nothing could pry Sumner Redstone out of his office in New York City--except maybe a business dinner. Viacom's chairman and CEO literally had no home. He would arise at dawn in h...
Sirius Satellite Radio is not ruling out a price increase for its basic subscription service in light of its arch rival's fee hike announced earlier this week, CEO Mel Karmazin told analysts Wednesday.
Mel Karmazin, the new CEO of Sirius Satellite Radio, said he's talked recently with Apple Computer about adding satellite radio to its popular iPod music player.
This past year has been tough on the media conglomerate, and not just because of that wardrobe malfunction and the 60 Minutes Wednesday blowup over President Bush's National Guard records.
Sirius Satellite Radio and XM Satellite Radio are holding preliminary talks on a possible merger, a newspaper said Wednesday, but Sirius CEO Mel Karmazin denied the report.
Shock jock Howard Stern, under pressure for broadcasts termed by some as indecent, said Wednesday he will not leave over-the-air radio for satellite and that his show will air in nine more markets.
Among all the recent surprises from Viacom--Mel Karmazin's abrupt resignation, the departure of Paramount studio chief Jonathan Dolgen, and the announcement of the CEO bake-off between MTV's Tom Fr...
Outgoing Viacom President Mel Karmazin is free to work for any of his former competitors. But they may have no need for his particular set of talents, analysts said, despite his strong reputation on Wall Street.
U.S. stocks opened lower Tuesday after a long holiday weekend as oil prices spiked over $41 a barrel following a terrorist attack in Saudi Arabia that left 22 people dead.
When the writers and editors of MONEY set out to find the best stocks for the upcoming year, we recalled a market that caught us by surprise in 2003. Remember SARS? Or how spooked you felt before t...
For evidence of the tensions at the top of Viacom, you only have to look at the contract that Mel Karmazin just signed, keeping him on as president and chief operating officer of the $24.6-billion-...
Most people face one or two make-or-break moments in a lifetime. But in the press, some folks are perennially pegged as on the verge of triumph or collapse. Here's the latest on four always-rans.
Family dramas are often loaded with human elements that make for great business stories--pride, envy, the quest for redemption. Senior writer Devin Leonard has proved himself a master of this kind ...
When we sat down in November to begin our hunt for the best investments for 2002, we "lacked visibility" (to use Wall Street's current favorite phrase) about where the market was headed. Specifical...
Last December, some of the biggest names in the television business gathered in a brownstone on Manhattan's Upper East Side for Viacom's annual Christmas party. It was the company's first holiday c...
At 76, Viacom CEO Sumner Redstone doesn't mind letting you know he's cool. Sure he watches MTV, Viacom's music video network; in fact, he says, just the other day Snoopy stopped by the Viacom build...
I was interviewing Halsey Minor, but he was asking me a question: "What do you think CNET needs?" CNET is the Internet company Minor founded in 1992 and still runs as CEO. Answering his question wa...
The Metropolitan Opera House in New York had never seen anything like it. When MTV gave out its 1999 Video Music Awards, Paul McCartney made a surprise appearance with Madonna, pop sensation Ricky ...
CBS chief Mel Karmazin has always been known as a green-eyeshade kind of guy, looking to boost margins by cutting costs wherever he can. But lately he's been on a shopping spree. In three days in A...
The recent executive changes at CBS and NBC signaled the beginning, not the end, of tumult at the networks. Pugnacious Mel Karmazin shoved CBS CEO Michael Jordan into early retirement, just days af...
Wall Street's favorite TV show these days is not Seinfeld, ER, or the CNBC stock ticker but a CBS drama that we'll call The Mel and Les Show. It stars Mel Karmazin, 54, the pugnacious radio mogul w...
Mel Karmazin is the most powerful man in radio, and he's a long way ahead of whoever's in second place. The 53-year-old street-smart boss of CBS Radio rules a vast and very profitable empire of sta...
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