Karmazin joining Sirius as CEO

[Truth]

Karmazin joining Sirius as CEO

Mel Karmazin is joining Sirius Satellite Radio as CEO, according to
executives familiar with the matter.

Mr. Karmazin, the former Viacom chief operating officer and president of

Viacom, exited the company in May and said last week at a radio
conference
in Portugal that his future might involve linking with an investment
company or joining a high-growth company. Mr. Karmazin did not respond
to
an e-mail request for comment.

Mr. Karmazin's name has been floated in connection with Sirius ever
since
the company signed radio personality Howard Stern to a five-year, $500
million deal. Mssers. Stern and Karmazin have long worked closely
together. Mr. Stern is currently tied to his contract to Viacom's
Infinity
Radio.

[Japperm]

So did Howard know of Karmazin's intentions before he signed with
Sirius? My guess is: yes.
> Mr. Karmazin's name has been floated in connection with Sirius ever
> since
> the company signed radio personality Howard Stern to a five-year, $500
> million deal. Mssers. Stern and Karmazin have long worked closely
> together. Mr. Stern is currently tied to his contract to Viacom's
> Infinity
> Radio.
>
>
>

[tko]

Japperm <schubert@rochester.rr.com> wrote in news:Teand.3240$1u.947
@twister.nyroc.rr.com:

> So did Howard know of Karmazin's intentions before he signed with
> Sirius? My guess is: yes.

I'd have to agree.

[Boston Blackie]

NEW YORK - November 18, 2004 - The Board of Directors of SIRIUS
Satellite Radio (NASDAQ: SIRI) has named Mel Karmazin as Chief Executive
Officer. He succeeds Joseph P. Clayton, who will remain at SIRIUS as
Chairman of the Board of Directors.

Mr. Clayton said, "The hiring of Mel Karmazin is the final piece in the
turnaround of SIRIUS that began when I joined the company three years
ago. My contract was ending on December 31, and I advised the Board of
Directors that I was willing to stay on for a transitional period. When
Mel left Viacom, we all felt we had a unique opportunity."

Mr. Clayton added, "I am very confident that Mel will accelerate the
very positive momentum that we have established at SIRIUS in the past
two years. Our recent announcement of the signing of Howard Stern, our
exclusive relationship with the National Football League and the
partnerships with automakers such as DaimlerChrysler, Ford and BMW are
all indications that satellite radio has a central role in the future of
broadcast media. We fully expect to achieve the subscriber projections
we have given to Wall Street for this year."

Mr. Karmazin, who served as President and CEO of Viacom until earlier
this year, said, "This is a perfect opportunity for me because I want to
lead a growth company that can reshape the landscape of the radio
business. I took Infinity Broadcasting and Westwood One to leadership
positions in the industry and am confident that SIRIUS will become a
market leader in short order. I will inherit a first-class management
group led by co-presidents Scott Greenstein and James Meyer. I look
forward to working closely with Joe Clayton and the strong team that he
has assembled."

Mr. Greenstein said, "Mel Karmazin is a legend in the entertainment
industry and can help us build the new medium of satellite radio." Mr.
Meyer added, "I see increased enthusiasm in our retail channel and more
confidence in our automotive partners. They can see what we are doing
with the SIRIUS brand and service offering."

[CG]

tko wrote:
> Japperm <schubert@rochester.rr.com> wrote in news:Teand.3240$1u.947
> @twister.nyroc.rr.com:
>
>
>>So did Howard know of Karmazin's intentions before he signed with
>>Sirius? My guess is: yes.
>
>
> I'd have to agree.


Yes, I agree. These guys better be careful since this is a public
company. Don't want to end up like Martha.

[Bonehenge]

On Fri, 19 Nov 2004 05:27:03 -0500, CG <CG@nospam.com> wrote:


>Yes, I agree. These guys better be careful since this is a public
>company. Don't want to end up like Martha.

How would "I'll work for them if you will" be illegal? <G>

Mel's hiring may have been part of Howard's contract.

Barry

[Mark]

On Fri, 19 Nov 2004 05:27:03 -0500, CG <CG@nospam.com> wrote:

>tko wrote:
>> Japperm <schubert@rochester.rr.com> wrote in news:Teand.3240$1u.947
>> @twister.nyroc.rr.com:
>>
>>
>>>So did Howard know of Karmazin's intentions before he signed with
>>>Sirius? My guess is: yes.
>>
>>
>> I'd have to agree.
>
>
>Yes, I agree. These guys better be careful since this is a public
>company. Don't want to end up like Martha.

They can know about all the internal affairs of the company - any public
company for that matter. There is nothing illegal about that.

It's when you try to trade stock based on this information that you screw
yourself.

[Truth]

> So did Howard know of Karmazin's intentions before he signed with
> Sirius? My guess is: yes.

Yes, they have been planning this together. Karmazin admitted in an
earlier statement that he and Stern have been in touch via email. Of
course that is all he could admit to publicly, be assured these two have
been planning this since Karmazin was forced to resign from Viacom. Be
assured this news really angers Viacom.

With Karmazin as CEO of Sirius, I now will change and say that Sirius has a
CHANCE at coming back into the race, because this means some changes to
their channel line up in the future. But they still need to battle the
problem of sales this Christmas which could still cripple them and favor
XM. But they are trying hard to fight, and I will now have to wait until
January before I completely write off Sirius now.

> > Mr. Karmazin's name has been floated in connection with Sirius ever
> > since
> > the company signed radio personality Howard Stern to a five-year, $500
> > million deal. Mssers. Stern and Karmazin have long worked closely
> > together. Mr. Stern is currently tied to his contract to Viacom's
> > Infinity
> > Radio.
> >
> >
> >

[Truth]

> > I'd have to agree.
>
> Yes, I agree. These guys better be careful since this is a public
> company.

Isn't Viacom?

[Clay]

CG wrote:

> tko wrote:
> > Japperm <schubert@rochester.rr.com> wrote in news:Teand.3240$1u.947
> > @twister.nyroc.rr.com:
> >
> >
> >>So did Howard know of Karmazin's intentions before he signed with
> >>Sirius? My guess is: yes.
> >
> >
> > I'd have to agree.
>
>
> Yes, I agree. These guys better be careful since this is a public
> company. Don't want to end up like Martha.


OK... can someone explain this to me?

Howard announces he's joining a company (whatever company) in October
2004.
His boss (el capo de tutti capi) announces he's joining the same
company as a CEO in November 2004.

Let's say that both the capo and Stern know what's gonna happen come
2005, much less 2006. Where is the crime?

Just asking
-C-

[Truth]

> >>>So did Howard know of Karmazin's intentions before he signed with
> >>>Sirius? My guess is: yes.
> >>
> >>
> >> I'd have to agree.
> >
> >
> >Yes, I agree. These guys better be careful since this is a public
> >company. Don't want to end up like Martha.
>
> They can know about all the internal affairs of the company - any public
> company for that matter. There is nothing illegal about that.
>
> It's when you try to trade stock based on this information that you screw
> yourself.

That had nothing to do with Martha either. She was not found guilty of
conspiracy or illegal stock issues, she was found guilty of telling a lie to
a government official.

[Truth]

> > >>So did Howard know of Karmazin's intentions before he signed with
> > >>Sirius? My guess is: yes.
> > >
> > >
> > > I'd have to agree.
> >
> >
> > Yes, I agree. These guys better be careful since this is a public
> > company. Don't want to end up like Martha.
>
> OK... can someone explain this to me?
>
> Howard announces he's joining a company (whatever company) in October
> 2004.
> His boss (el capo de tutti capi) announces he's joining the same
> company as a CEO in November 2004.
>
> Let's say that both the capo and Stern know what's gonna happen come
> 2005, much less 2006. Where is the crime?
>
> Just asking

No crime with that. But if either Stern or Karmizan lie to a government
official when asked a question, then they will end up in prison. After
all, Martha Stewart was never convicted of any crimes relating to stocks or
conspiracy, only because she lied to some government agent.

Let's say the government asks Stern what color underwear he is wearing, and
he lies about it. Then off to prison he goes.

That's how it works.