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Past Profile
eBlast
SIRIUS SATELLITE RADIO, INC. (NasdaqNM: SIRI)
August 31, 2004.
 
 SIRIUS SATELLITE RADIO, INC. (NasdaqNM: SIRI)

Dear Reader,

What does the NFL know that you don’t?

That’s right, the NFL, National Football League to be precise, which is kicking off its much awaited season in a few days.

The league, more popular today than ever, has signed an agreement with the No. 2 satellite radio provider Sirius Satellite Radio Inc. (NasdaqNM: SIRI) to offer exclusive and extensive NFL content to Sirius’s burgeoning subscription audience.  The deal, as reported by Sirius, will provide its football-loving subscribers with ‘round the clock football news, access to audio of either the home or away broadcasts as well as specialized content for fan favorites like fantasy football.

But the question is, “Why Sirius, Mr. NFL? Why not big boy XM Satellite Radio (NasdaqNM: XMSR) and its vastly larger audience and more established business model?

The answer, besides a whole lot of cash from Sirius, is we don’t know - but the fact that we are asking the question beckons us to research more, to dig deeper and see if we can see what the NFL must have seen.  Meanwhile, I’m going to Best Buy today to pick up a Sirius radio package because I don’t want to miss a St. Louis Rams game and I’m out of their market.  I can’t do that with XM and this is the deciding factor for me as to which satellite radio company to choose.  Sirius has the NFL locked up for seven years.

XM and Sirius both conjure the lurid dreams of the “Next Internet” investors who see these plays as new frontiers for whom enormous returns will emerge.  And they may be right… albeit not as instantly as they might hope.

But something dynamic is happening with satellite radio and it’s had our attention for some time.  We’re going to keep an eye on this market for you, our dear reader, and we’re going to kick if off with the NFL’s pick of the two pup litter, Sirius.
 
 About Sirius Satellite Radio, Inc.

Sirius Satellite Radio Inc. is a provider of satellite radio service, offering over 100 Streams to subscribers throughout the continental United States, including 61 streams of commercial-free music and over 40 streams of news, sports, talk, entertainment, traffic, weather and children's programming. The Company's 61 original streams of commercial-free music are produced at its national broadcast studio in New York City, and cover most genres of music.  Its non-music streams include programming from CNN, ESPN, NPR, FOX News, The Weather Channel and traffic for America's top 20 markets from Westwood One, a provider of traffic reports. Sirius is also a satellite radio provider of live sports programming, featuring up to 40 National Hockey League and National Basketball Association games each week, and has agreed to broadcast all National Football League (NFL) games and become the Official Satellite Radio Partner of NFL.
 
  Recent News from SIRI

News Release 
Source: SIRIUS 
Monday August 2, 11:00 am ET 

SIRIUS NFL Radio Goes Live August 2, Marking Launch of First 24/7 Radio Channel Dedicated to the NFL

Programming Lineup Includes In-Studio Talk Shows Hosted by Chris Carter, Dan Reeves, John Riggins, 
Shannon Sharpe and others 

NEW YORK, Aug. 2 /PRNewswire-FirstCall/ -- SIRIUS (Nasdaq: SIRI - News), the premium satellite radio provider known for delivering the very best in commercial-free music and sports programming to homes and cars across the country, today announced that SIRIUS NFL Radio, the first 24/7 year-round radio channel devoted entirely to the National Football League, will go live on Monday, August 2. SIRIUS also announced the programming lineup for its inaugural season.

SIRIUS NFL Radio will provide the most comprehensive, in-depth radio coverage of the NFL, including daily live shows hosted by legendary NFL figures, including Cris Carter, Dan Reeves, John Riggins and Shannon Sharpe. Each show will feature team-by-team reports, expert analysis, exclusive conversations with team personnel and sports insiders - and best of all, phone calls from football fans from around the country. The channel will also cater to fantasy football fans with a show dedicated to fantasy leagues every Friday.

SIRIUS NFL Radio complements SIRIUS NFL Sunday Drive, the new programming package that lets subscribers choose from a full slate of live radio game broadcasts from all around the NFL each Sunday.

"Football fans -- real football fans -- will get the best coverage of the NFL, every day of the year on SIRIUS NFL Radio," remarked Steve Cohen, SIRIUS Director of NFL Programming. "We have spared no effort in assembling the wisest, smartest names in pro football for our on-air lineup. SIRIUS subscribers will be the best-informed football fans around!"

"SIRIUS NFL Sunday Drive will enhance football fans' fall Sunday rituals, because wherever they are -- at the beach, in the car or on the patio -- they can now follow every play of their favorite teams and players with SIRIUS," said Scott Greenstein, President of Entertainment and Sports, SIRIUS. "We've got something for every fan, including the opportunity to choose from either the home or away broadcast of the same game. SIRIUS NFL Sunday Drive and SIRIUS NFL Radio are two great ways to enjoy the NFL season this fall."

This is an excerpt - to read the entiry news release with disclaimers: Click Here


Press Release 
Source: SIRIUS Satellite Radio 
Monday August 2, 8:30 am ET

Two-Time Super Bowl MVP Tom Brady and Emmy-Winning Broadcaster John Madden 'Call the Plays' for SIRIUS Satellite Radio NFL Ad Campaign

Campaign Breaks August 2 to Promote NFL Sunday Drive, SIRIUS' Comprehensive Play-by-Play Package 

NEW YORK, Aug. 2 /PRNewswire-FirstCall/ -- Super Bowl MVP quarterback Tom Brady of the New England Patriots is teaming up with 14-time EMMY Award- winning football analyst John Madden in a new ad campaign for SIRIUS Satellite Radio (Nasdaq: SIRI - News), the Official Satellite Radio Partner of the NFL. The campaign will officially debut on August 2.

The SIRIUS NFL Sunday Drive campaign, including television, radio and print ads will run on a variety of NFL and sports media all the way through the post-season. The humorous television spot, titled "Breaking News," features Brady in his car showing off his SIRIUS receiver to Madden. Brady's real-life wide receivers, Deion Branch, Troy Brown and David Givens appear in the spot, bewildered at Madden's "breaking news" that a SIRIUS Satellite Radio is Brady's "new favorite receiver."

The ad campaign promotes SIRIUS NFL Sunday Drive, the new programming package that lets subscribers choose from a full slate of live radio game broadcasts from around the NFL each Sunday. SIRIUS NFL Sunday Drive complements SIRIUS NFL Radio -- the only 24/7/365 channel dedicated exclusively to pro football -- launching on August 2.

"This campaign will highlight SIRIUS' unique ability to broadcast the entire NFL every week through SIRIUS NFL Sunday Drive, as well as show the ease and flexibility of satellite radio." said Mary Pat Ryan, Executive Vice President of Marketing, SIRIUS. "And, what better way to communicate those messages than by using two of the most well-known and respected guys in the NFL, with Tom Brady and John Madden."

This is an excerpt - to read the entiry news release with disclaimers: Click Here
 
 

For all the latest news from SIRI: Click Here
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 The Sirius Business Model

Sirius Satellite Radio Inc., from its orbiting satellites, directly broadcasts various channels of digital-quality audio.  The Company provides its services throughout the continental United States for a monthly subscription fee.  The Company delivers various streams of commercial-free music in every genre, as well as streams of news, sports, weather, talk, comedy, and public radio.
 
     Sirius Management Team and Directors
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Joseph P. Clayton, president/CEO/ Director  - Mr. Clayton, age 54, has served as President, CEO and a director since November 2001. Mr. Clayton served as President of Global Crossing North America, a global internet and long distance services provider, from September 1999 until November 2001. Mr. Clayton also served as a member of the board of directors of Global Crossing Ltd. from September 1999 until May 2002. On January 28, 2002, Global Crossing Ltd. and certain of its affiliates filed petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. From August 1997 to September 1999, Mr. Clayton was President and Chief Executive Officer of Frontier Corporation, a Rochester, New York-based national provider of local telephone, long distance, data, conferencing and wireless communications services, which was acquired by Global Crossing in September 1999. Prior to joining Frontier, Mr. Clayton was Executive Vice President, Marketing and Sales-Americas and Asia, of Thomson S.A., a leading consumer electronics company. Mr. Clayton is a member of the board of directors of Transcend Services Inc., a trustee of Bellarmine University and The Rochester Institute of Technology and a member of the advisory board of Indiana University School of Business.

Leon D. Black, Director - Mr. Black, age 52, has been a director since June 2001. Mr. Black is one of the founding principals of Apollo Advisors, L.P., which manages investment capital on behalf of institutions. He is also the founder of Apollo Real Estate Advisors, L.P. From 1977 to 1990, Mr. Black worked at Drexel Burnham Lambert Incorporated, where he served as Managing Director, head of the Mergers & Acquisitions Group and co-head of the Corporate Department. Mr. Black is a director of United Rentals, Inc., Allied Waste Industries, Inc., AMC Entertainment Inc. and Wyndham International, Inc. Mr. Black is a trustee of The Museum of Modern Art, Mt. Sinai Hospital, The Metropolitan Museum of Art, Lincoln Center for The Performing Arts, Prep for Prep, The Jewish Museum, The Asia Society, Dartmouth College and Vail Valley Foundation.

David J. Frear, Exec. VP and CFO - Mr. Frear has served as Executive Vice President and Chief Financial Officer since June 2003. From July 1999 through February 2003, Mr. Frear was Executive Vice President and Chief Financial Officer of Savvis Communications Corporation, a global managed service provider, delivering internet protocol applications for business customers. >From October 1999 through February 2003, Mr. Frear also served as a director of Savvis. Mr. Frear was an independent consultant in the telecommunications industry from August 1998 until June 1999. From October 1993 to July 1998, Mr. Frear was Senior Vice President and Chief Financial Officer of Orion Network Systems Inc., an international satellite communications company that was acquired by Loral Space & Communications Ltd. in March 1998. >From 1990 to 1993, Mr. Frear was Chief Financial Officer of Millicom Incorporated, a cellular paging and cable television company. Prior to joining Millicom, he was an investment banker at Bear, Stearns & Co., Inc. and Credit Suisse.

Patrick L. Donnelly, Exec. VP, General Counsel - Mr. Donnelly has served as  Executive Vice President, General Counsel and Secretary since May 1998. >From June 1997 to May 1998, he was Vice President and deputy general counsel of ITT Corporation, a hotel, gaming and entertainment company that was acquired by Starwood Hotels & Resorts Worldwide, Inc. in February 1998. >From October 1995 to June 1997, he was assistant general counsel of ITT Corporation. Prior to October 1995, Mr. Donnelly was an associate at the law firm of Simpson Thacher & Bartlett LLP.

Scott Greenstein, President of Entertainment and Sports - Mr./ Greenstein was named Chairman of USA Films, a motion picture production, marketing and distribution company, in 1999 where he oversaw all aspects of the company's film activities and supervised its home entertainment business through USA Home Entertainment, which handled home video/DVD distribution for the NFL, NHL, NBA, and MLB. USA Films was a division of USA Networks, Inc., now known as InterActive Corp.  Under Greenstein, USA Films' first in-house supervised production to be released was Steven Soderbergh's "Traffic," which earned many accolades and multiple nominations, including Best Picture nominations for the Golden Globe Awards and the Academy Awards. Traffic won four Academy Awards, including Best Director and Best Supporting Actor, and two Golden Globe Awards. 

James P. Holden, Director - Mr. Holden, age 52, has been a director since August 2001. From October 1999 until November 2000, Mr. Holden was the President and Chief Executive Officer of DaimlerChrysler Corporation, a subsidiary of DaimlerChrysler AG, one of the worlds largest automakers. Prior to being appointed President in 1999, Mr. Holden held numerous senior positions within Chrysler Corporation during his 19-year career at the company.

For a complete listing and bios on Officers & Directors - Click Here
a
    Financial Highlights From Reuters 

aa
Exchange NasdaqNM
Sector Services 
Industry Broadcasting & Cable TV 
Employees (last reported count): 375 

SIRI is engaged in the development of a subscription- based satellite radio system for the nationwide broadcast channels of commercial-free, digital-quality music programming and nearly seamless signal coverage across the U.S.  For the 6 months ended 6/04, revenues totaled $22.5M, up from $3.7M. Net loss applic. to Common totaled $280.9M, up from $60M. Results reflect subscription base growth, offset by the absence of debt restructuring income.

Financial Statistics
Revenue (ttm)  31.73M 
Revenue Per Share (ttm) 0.028 
Revenue Growth (lfy)³ 1499.00% 
Gross Profit (ttm)² -73.90M 
EBITDA (ttm) -386.04M 
Net Income Avl to Common (ttm) -535.32M 
Diluted EPS (ttm) -0.477 
BALANCE SHEET
Total Cash (mrq) 639.96M 
Total Cash Per Share (mrq) 0.52 
Total Debt (mrq)² 426.04M 
Total Debt/Equity (mrq) 0.347 
Current Ratio (mrq) 5.274 
Book Value Per Share (mrq) 0.993 

Common Stock $.001 Par, 8/04, 2.5B auth., 1,236,800,145 issd.  Insiders own 2% (incl. 7.4M options).  IPO 9/94, 675K Units (2 Com. + 1 War.) @ $10 by First Marathon Securities. PO 11/97, 2.8M shares @ $18 by Merrill Lynch. PO 9/99, 3M shs @ $24.75 by Merrill Lynch. PO 2/01, 10M shs @ $21 by Lehman Bros. PO 1/02, 16M shs @ $9.85 by Lehman Bros.

Equity Statistics
52-Week High (5-Jan-04) 4.20 
52-Week Low (11-Sep-03) 1.55 
50-Day Moving Average 2.59 
200-Day Moving Average 2.86 
Average Volume (3 month) 32,468,590 
Average Volume (10 day) 26,406,000 
Shares Outstanding 1.24B 
Float 1.22B 
% Held by Insiders: 1.40% 
% Held by Institutions 28.73% 
Shares Short (as of 9-Aug-04) 80.55M 

 a
 To view the latest 10Q from SIRI on the SEC Web site, Click Here
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    CONTACT 

Headquarters 
Sirius Satellite Radio Inc
1221 Avenue of the Americas, 36th Floor
New York, NY 10020
Phone: (212) 584-5100
Fax: (212) 899-5050
Email: investor_relations@sirius-radio.com
Web Site: http://www.siriusradio.com/
 
 


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Disclaimer: StockUpTicks.com is a property of Market Pathways Financial Relations Incorporated (MP).  The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness.  Past performance is no guarantee of future results. This report is a paid advertisement and is for information purposes only and should not be used as the basis for any investment decision.  MP has not been paid by Sirius Satellite Radio Inc. or any other person or entity in any form for preparation and distribution of this report and its owners, affiliates, employees do not currently own shares in SIRI.  However, at some point in the future MP, its owners, affiliates, and/or employees may buy shares and may also sell shares of SIRI without further notice.  Therefore, MP makes no warranty this it is objective in its communication regarding the subject company.  Write or call MP for detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934 - Market Pathways 1920 Main Street, Suite 980, Irvine, CA  92614.  MP is not an investment advisor and this report is not investment advice. This information is neither a solicitation to buy nor an offer to sell securities but is a paid advertisement.  Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results.  The opinions contained herein reflect our current judgment and are subject to change without notice. MP and/or its affiliates, associates and employees from time to time may have either a long or short position in securities mentioned.  Information contained herein may not be reproduced in whole or in part without the express written consent of Market Pathways Financial Relations Incorporated.

 
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