Thursday, December 07, 2006
XM's Parsons Interviewed On CNBC
Live In Play,
www.briefing.com 07-Dec-06, 15:28
XMSR XM Satellite Chairman appears on CNBC (14.83 +0.13) -Update-
When asked about XMSR/SIRI speculation, says rumor has been around for 2 years, and he tries to avoid addressing the speculation because speculation is what it is. Notes that the two of them (XMSR & SIRI) are very good, very healthy competitors, and they work together on regulatory matters. Says he leaves the speculation to reporters and analysts. Says the mkt they compete in is a much larger, broader mkt, and he thinks it could have a positive regulatory review. When asked if co is engaged in any conversation on the subject, says the "factual inquiry is no." (Note that XMSR discussed merger speculation at the Credit Suisse conference earlier today as well -- see 10:35 comment for details)
10: 35
XM Satellite Credit Suisse conf call summary (15.14 +0.44) -Update-
On a potential merger with SIRI, co said that clearly the two co's operating in larger mkt than sat radio, primary competitor is terestrial radio, not each other. On cost synergies the co said yes, there would be significant synergies but there are also significant differences in co's focus. Thinks there are market place imbalances on valuations of co's. Notes that there are other opportunities for both co's, beyond a merger, in other strategic directions. Both co's are doing well in capturing market share, no urgency. Co says that it appears more spending is going into HDTV's and video game systems this holiday. Says that clearly Sat radio is not as strong this holiday as it was last holiday. Co continues to see softness across the board in retail, some shift to from big box to direct channels.
12/07/2006 03:35:00 PM
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