What’s Next for Sirius XM?
Sirius XM Radio (NASDAQ:SIRI) was flat for the week after Liberty Media (NASDAQ:LMCAD) acquired its long-sought majority stake in the satellite-radio company. Liberty Media, chaired by John Malone, bought 50 million shares at $3.15 a piece, bringing its total stake to 50.7 percent stake and giving it control of the board.
The move was a long-time coming, preceded by the departure of former CEO Mel Karmazin. Malone had criticized Karmazin for not expanding aggressively enough or adapting to new technology quickly enough. That’s not to say Sirius struggled under Karmazin’s watch — the opposite, in fact, as the company recovered from the brink of bankruptcy.
Sirius will report its fourth-quarter results on February 5. Sirius has grown its revenue for four consecutive quarters, and analysts are looking for a fifth in this report. Expectations for earnings are just $0.02 per share, which is one penny more year over year and quarter to quarter…