Mel Karmazin Speculates His Reign as Sirius XM Radio CEO Will End Soon

Discussion in 'The Howard Stern Show' started by Magnificent Mr. Hole, Sep 12, 2012.

  1. Magnificent Mr. Hole

    Magnificent Mr. Hole Well-Known Member

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    Sorry if this was posted already.

    http://www.hollywoodreporter.com/news/mel-karmazin-sirius-ceo-369821

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    When Liberty Media takes control of the company, the exec may be out, "and that's okay with Mel," he said Wednesday, referring to himself in the third person.

    Liberty Media could announce as early as Wednesday that it has acquired a controlling stake in Sirius XM Radio, the satellite service’s CEO Mel Karmazin said. He also indicated that Liberty may not want him around much longer.

    “My instincts today are that Liberty does not need me,†Karmazin said at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference in Los Angeles.

    “I have historically been expensive, and, you know, it’s very clear to me that if I were Liberty I would sit there and say, ‘I’m not sure we need Mel.’ And that’s okay with Mel,†he said, referring to himself in the third person.

    Karmazin’s contract as CEO of Sirius XM runs through the end of the year. Liberty has been purchasing shares on the open market, driving the stock higher in recent months. Between the recently acquired shares and the preferred stock it already had, Liberty owns slightly less than 50 percent of the company, according to a recent filing.

    Karmazin said he has had little contact with Liberty’s John Mallone or its CEO, Greg Maffei, since Liberty began its quest in May to control Sirius XM -- not when Liberty tried unsuccessfully for de facto control, and not since it began purchasing large chunks of stock.

    “Liberty and we have not been having any conversations at all about what they are going to do,†Karmazin said. He speculated, though, that Liberty would install a new board of directors and retain the company's current auditors.

    Karmazin said he plans to stick around while control for the company remains in flux, but he will not negotiate a new contract during these uncertain times for the company because he wants to avoid the appearance of “conspiring against minority shareholders.â€

    Maffei is scheduled to speak at the same conference later Wednesday.

    Liberty has filed its request with the FCC to take control of Sirius XM, though a 30-day period of public comment hasn’t been set yet. When Sirius and XM merged, a similar 30-day period stretched to 17 months, but Karmazin said he expects Liberty’s gambit to be much quicker and noncontroversial.
     
  2. Magnificent Mr. Hole

    Magnificent Mr. Hole Well-Known Member

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    You can leave comments at the link.:secret:
     
  3. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    If Mel leaves it's only a matter of time before his love-child, Gary Dell'abate goes too.
     
  4. Nemo

    Nemo Beer Can Thick Gold

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    Notice the puppies...look familiar....rentals?
     
  5. Vashier

    Vashier VIP Extreme Gold

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    :lol: I was thinking the same thing :beer:
     
  6. HowieStearn

    HowieStearn HateClub

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    too bad his teeth aren't whiter
     
  7. guruhugz

    guruhugz Well-Known Member

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    Wiggy will be kicked out soon after Mel. Wiggy has killed his career by pissing on his fans.
     
  8. Herc

    Herc New Member

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    I can't wait until Malone pisses on Stern . . .
     
  9. Nemo

    Nemo Beer Can Thick Gold

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  10. Mutt Sucks

    Mutt Sucks New Member Banned User

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    Fuck them all.
     
  11. Uncle Larry

    Uncle Larry Well-Known Member VIP

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    Is Mel finished dumping all the stock he planned to under his trading plan? I'm sure the Sirius stockholders are feeling great about the company's performance during his tenure.

    I liked his comment: “I have historically been expensive, and, you know, it’s very clear to me that if I were Liberty I would sit there and say, ‘I’m not sure we need Mel.'" The same can be said about another very highly-paid part-time employee/"partner" of Sirius.
     
  12. MutteringJohn

    MutteringJohn Well-Known Member

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    Just like Commodus in Gladiator the time for Mel honoring himself will soon end.
     
  13. PI Nate

    PI Nate Disenfranchised since 1984... Gold

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    hopefully he takes the wig with him...:coffee:
     
  14. CAPTAIN KIRK

    CAPTAIN KIRK New Member

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    I keep hearing Malone doesn't like the Wig. Any truth to this?
     
  15. JDDaBadAhz

    JDDaBadAhz Active Member

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  16. MutteringJohn

    MutteringJohn Well-Known Member

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    Mel, it's over!!!
     
  17. whatsit

    whatsit Dawg Lover VIP

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    lol!
     
  18. tv910

    tv910 Well-Known Member

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    I wonder if Mel's business disputes with Howard will cost Beth her "spokesperson" position at NSAL. It's clear that's how she got the job in the first place.
     
  19. Bababaloney

    Bababaloney Fudge Packer Banned User

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    Not sure about that...Mallone's a good business man and probably won't want to buy Stern out.

    Frankly, I would think Mallone doesn't give a shit about the kid of show Stern puts on, just what's best for business.
    And when you takeover a company, you don't want to piss off your customers (even if Stern's base is dramatically smaller).
     
  20. R.P. McMurphy

    R.P. McMurphy Well-Known Member

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    ...this is great news, mels done nothing but take the cream off the top and grease his buddies with it. is karmazin a jewish name? howards a fellow show biz jewish individual, theres a bond there among those people from what i can tell.