Karmazin Says He's Staying At Sirius XM
November 17, 2009 at 4:24 AM (PT)
SIRIUS XM RADIO CEO MEL KARMAZIN was interviewed on FOX NEWS YESTERDAY (11/16) by NEIL CAVUTO, and denied rumors he might leave the satcaster to manage a merged COMCAST and NBC UNIVERSAL. KARMAZIN also said he would not accept a job as number two to WARREN BUFFETT and that no amount of money could convince him to leave SIRIUS XM RADIO and run another large media company.
He did say that SIRIUS XM is now a cash flow growth story as opposed to a subscriber growth story, reports SEEKINGALPHA.COM, pointing out "the newly merged SIRIUS XM RADIO’s generation of positive free cash flow. He indicated that free cash flow is what will enable the company to pay down debt, buy back shares of its stock and make acquisitions."
Showing frustration with those critical of "overpriced" talent, KARMAZIN was adamant that the company will pay what it takes to attract and retain such talent as HOWARD STERN.