Siriusly!
by Dan Simmonds, Founder, BearScare [http://bearscare.blogspot.com/]Living in New York, I don't like the radio, I don't listen to the radio, and I will seriously never pay for radio. I actually own Clear Channel Stock, but I knew it was big news when Howard Stern decided to defect to satellite radio.
I don't know why Howard Sterns fans are so excited about him moving. How can they have the attitude of "Yay, we get to pay for something that we used to get for free, yay!" It doesn't make any sense, but if you bought the stock a year ago it would have made a lot of cents. Sirius has been one of the top performers on the NASDAQ for the past three weeks.
I would like to point out that Howard Sterns annual contract of 100 million dollars is high enough that it takes all the revenue from all of Sirius' current subscribers just to pay his contract. However, Sirius expects to gain at least 2 million more subscribers as soon as Stern leaves broadcast radio. If I were in AC and had to bet where the stock would go, unfortunately, I would have to say up.
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