02-28-2005, 04:30 PM
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#4 of 5 
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Member
Join Date: Oct 2001
Local Time: 03:38 PM
Local Date: 10-11-2008
Posts: 2,045
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Ron, Most of it is business oriented. His only real concern seems to be making a profit, which is understandable. He mentions that he sees terrestrial radio as his main competitor, not XM. Here is a small quote that I was basing my statement on. It does require one to read between the lines a bit, but thats how I saw it since he compared Sirius to what he did at Infinity.
Quote:
Q. How does Sirius compare to Infinity? Satellite radio versus terrestrial radio?
A. I'm finding the analogy to be much more at the beginning and early days of Infinity. When in 1981, when I joined Infinity, we had three radio stations and the revenues were very small and from the period of time in 1981 until the time we merged it into Viacom, as an example, the market cap of the company went from where it was worth $10 million in 1981 to at the time of the merger into Viacom, Infinity was valued at $20 billion. So the analogy today is that Sirius is much more in its early stages of its growth. It's been doing extraordinarily well, but it's really on a rapid-growth trajectory as compared to a mature business as Infinity was when I left it.
Q. Is the satellite radio business different from terrestrial radio?
A. In a number of ways, I think, really interesting. One of the ways is that, when we were dealing with terrestrial radio, we were dealing with the local radio market. So you'd own a radio station in New York City or a bunch of radio stations in New York City and Los Angeles and Chicago, whereas the Sirius experience is that we have 120 national radio stations. That part is different. The other part that is very different, but also very appealing, is that, unlike terrestrial radio, where we only had one stream of revenue, which was advertising, satellite radio offers us the opportunity to have a dual stream of revenues: subscription revenues as well as advertising. So, you almost make the analogy that it's more like the cable channel.
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Long you live and high you fly
And smiles you\'ll give and tears you\'ll cry
And all you touch and all you see
Is all your life will ever be.
-R. Waters
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