Karmazin's '06 Compensation: $4.25 Million
April 24, 2007 at 5:47 AM (PT)
An SEC filing by SIRIUS SATELLITE RADIO says that the company paid MEL KARMAZIN $1.25 million in salary and $3 million in bonuses for 2006, plus $16,937 in retirement contributions and profit-sharing. AP adds that while he did not get any stock or stock options for the year, $2.43 million in previous stock awards vested in 2006.
SIRIUS is also encountering opposition from wireless industry group the WCS COALITION, which filed a letter with the FCC last week asking that SIRIUS be blocked from providing its "Backseat TV" three-channel children's video service until the Commission implements rules to allow satellite services and wireless services to co-exist in the 2305-2360 MHz band. The ex parte letter filed by law firm WILKINSON BARKER KNAUER asks, "Is SIRIUS even authorized to provide video programming of the sort it proposes on DARS spectrum?" The Coalition notes that the Commission never ruled on whether video services are permitted under SIRIUS and XM's licenses.
Read the WCS letter by clicking here.