Sirius XM stock tanking
Wed Nov 19 17:48:26 EST 2008
Sirius XM closed at .16 cents today.
With nobody buying new cars theuir is little hope for growth.
Stern has seen his stock value drop to under 8 million from nearly
200M. He must be thrilled.
I suspect Sirius may close the NY studios and move everything to DC
simply to save on rent.
As WiFi gets more widespread services like Pandora will hurt them evenb more.
The future of broadcasting looks solid compared to this.
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