BusinessWeek Comments on Rivalry Between XM and Sirius
AUGUST 21, 2006 COMPETITION -- TYPE A ORGANIZATIONS (
www.businessweek.com)
Grudge Match The media and entertainment world has long served up epic battles, whether it was the Hearst-Pulitzer newspaper wars, MGM vs. Warner Bros. Studios or, more recently, Fox News's (
NWS ) assault on CNN (
TWX ).
But the rivalry that has been blazing for six years between XM Satellite Radio (XMSR ) and Sirius Satellite Radio (SIRI ) sets new standards in the art of one-upmanship. What began with some space-age technology and deep-pocketed investors has escalated into a pageantry of excess. Hundreds of millions have been laid out for star-studded programming -- Stern, Oprah, Martha, Dylan -- but nary a penny of profit has been made.Orchestrating this war are two CEOs with a whole lot to prove. XM's Hugh Panero, a cable industry vet, was passed over for a new top job at a pay-per-view company. Sirius CEO Mel Karmazin, an old radio hand, was forced out as the No. 2 at Viacom Inc. (
VIA ). Each is fully aware that XM and Sirius may seem very similar. Dozens of channels each, half music, half talk. Same price. Flip a coin, right? That's why the two play such a pitched public-relations game. If these guys were on the hard court, their fevered volleys would make for a riveting match. So that's where we put them....read more:
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