NEW YORK— Sirius XM Holdings Inc. reported strong subscriber growth and second-quarter profit on Tuesday and raised its outlook for the year, prompting it to boost its full-year outlook. The satellite radio company reported $102.8 million in profit, or 2 cents per share. The average estimate of eight analysts surveyed by Zacks Investment Research was also for...» Read More
Leo Terrell, a civil rights attorney and a radio talk show host, told CNBC’s “Morning Call” that Don Imus “is history” because his guests and advertisers will abandon him following his racially charged comments about a women’s basketball team.
NBC News has decided that its cable news channel, MSNBC will no longer simulcast the Don Imus radio program, effective immediately. CBS Radio says its two week suspension of the program stands although it is monitoring the situation. Advertisers have been defecting from the controversial radio host.
SMG, the Scottish media group, said on Thursday it would list Virgin Radio by way of an Initial Public Offering (IPO) and would focus on TV as its core business as part of its strategic turnaround.
The storm over Don Imus' racial comments escalated as more advertisers pulled out from his show. CNBC's Donny Deutsch told "Power Lunch" that "I think Imus is done."
Imus is in trouble for his offensive remarks, and he's not helping himself any. Now Procter and Gamble -- one of the biggest advertisers in the US -- just pulled all their ads from daytime MSNBC, and Bigelow Teas and Staples are suspending their ads for now.
Procter & Gamble, Staples and Bigelow Tea have suspended their advertising spots on Don Imus's radio show in reaction to his comments about the Rutgers women's basketball team, according to the Wall Street Journal.
CNBC's Donny Deutsch, the host of "The Big Idea" and self-described "ad sherpa, says that sponsorship, more than politics, may spell the professional doom of radio host Don Imus.Speaking on "Power Lunch," Deutsch talked about Imus' comments about the Rutgers University womens' basketball team with Sue Herera. Deutsch said "what really matters" is when the advertisers weigh in. "It's about money."
This may be my favorite ingeniously cheap PR ploy of the year so far: KFC is STILL trying to convince "Idol" contestant Sanjaya Malakar to sport a "bowl cut," to promote the chain's Famous Bowls. Malakar is the young kid who hulas but doesn't sing very well, yet he continues to advance on "Idol" partly because of a subversive campaign by Howard Stern.
Joel Hollander stepped down as Chief Executive Officer of CBS Radio after more than two years of service. Hollander joined the company in 2003 as President and Chief Operating Officer. He will be succeeded by Dan Mason.
Satellite radio customers will get the option to pay a lower price for just the channels they want if the industry's two big providers are allowed to merge, Sirius Satellite Radio said in a securities filing of its bid to buy XM Satellite Radio Holdings
Clear Channel Communications' meteoric rise from small-time radio station owner to colossal media company has often been tempestuous, with consumer and antitrust advocates hounding the giant. But these days, the loudest cries are coming from stockholders.
The nation's largest radio broadcaster could be the largest media and entertainment sale in history. And if the deal doesn't go through, it's still a big deal. A big deal for shareholders, because if the buyout doesn't happen, the company is likely to be broken up (splitting the radio and outdoor advertising business) or we'll see a stock buyback.
The price of satellite radio offered by a merged Sirius Satellite Radio and XM Satellite Radio would be less than subscribing separately to both services, Sirius' chief executive Mel Karmazin said on Wednesday.
Satellite radio rivals XM and Sirius hope their bold merger plan doesn't fall on deaf ears in Washington, but there may be plenty of static from federal regulators.
British media company Chrysalis Group said on Monday it was considering the sale of its radio and music business as part of a full review into the division's future that would look at all options.
Air America Radio, a liberal talk radio network, said that it had reached a tentative agreement to be sold to the founder of a New York area real estate company.
Talk of a merger between XM Satellite Radio and Sirius Satellite Radio has been churning for months now. 2006 was far from a stellar year for either satellite network, although both stocks are up 20% YTD – mostly on continued rumors of a merger. But is a merger between the two rivals in the cards? David Bank of RBC Capital Markets joined the “Squawk on the Street” team at the NYSE to talk about it.
Just hours after receiving an $83 million stock bonus from Sirius, Howard Stern has registered with the SEC to sell all 22.1 million shares.
Shares of XM Satellite Radio and Sirius Satellite Radio are up today. The gains come on news that XM recorded positive cash flow from operations during the fourth quarter. Some traders are reacting to the news as if the worst of the companies’ struggle into the black are over. Maria Bartiromo had two analysts on “Closing Bell” who would beg to differ.
XM Satellite Radio said it ended 2006 with more than 7.6 million subscribers, after adding over 442,000 new net customers during the fourth quarter.