Friday, October 06, 2006

Sumner Redstone: Negative On Satellite Radio

Oribtcast (www.orbitcast.com) picked up this Sumner Redstone interview, in which he mentions that satellite radio "has no future", particularly Sirius (I guess he still has it in for Mel), and mentions that Howard Stern insinuated that he was going back to terrestrial (even though this was said in jest, the market jumped on this rumor again)

Sumner Redstone on Satellite Radio's Future: "Not a chance"

Sumner Redstone, Chairman of the Board and controlling shareholder of Viacom/CBS Corp, told PBS' Charlie Rose that satellite radio has no future, in a recent interview. "And that's not just because Karmazin runs it," he continued, "They keep losing money, losing money, losing money."
Redstone also said he ran into Howard Stern at a restaurant in New York and that Stern said to him "Someday, I'll be back." Restone continued to say that Stern "was probably kidding."
Here's the video: LINK