SiriusXM Reports Revenue Up 13% in Q2; Net Subscribers Up 38%

Story by Talkers

The satellite radio company announced second quarter numbers yesterday and reports revenue for that period was $838 million – up 13% over the same period in 2011.  Subscriber growth continues this year as the satcaster saw 463,000 self-pay net adds with the total adds for the year at around 1 million.  As for the status between Liberty Media and Sirius – or more specifically,

Mel Karmazin whose contract expires in December?  Karmazin says his duty is clear, “I can assure you that our board and I are interested in trying to accomplish whatever Liberty wants to do as long as it’s in all of our shareholders’ best interests and that there is no issue involving Mel that has anything to do with the current conversations with Liberty at all.  Regarding my contract, it doesn’t expire until the end of the year, and prior to the Q3 earnings call, prior to our next call I think the board and I will deal with it.”  Liberty Media has been acquiring SiriusXM stock and holds about 46% of the shares.  It has twice asked the FCC to declare it in “de facto control” of the company but the FCC has balked.

Story by Inside Radio

Karmazin softens his Liberty stance

Despite a reputation for having an unwillingness to be second-in-command, Sirius XM Radio CEO Mel Karmazin appears to be open to working for Liberty Media chairman John Malone should the satcaster’s largest shareholder succeed in taking control of the company. Mel's contract expires at the end of the year and he said he and the board will deal with it before the company’s third quarter earnings call.