Key Developments: Sirius XM Holdings Inc (SIRI.O)

SIRI.O on Nasdaq

3.38USD
11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Sirius XM Holdings reiterates FY 2014 guidance
Thursday, 24 Apr 2014 07:05am EDT 

Sirius XM Holdings Inc:Reaffirms previously issued guidance for FY 2014.Expects FY 2014 revenue of over $4.0 bln.Expects FY 2014 Adjusted EBITDA of about $1.38 bln.FY 2014 revenue of $4.129 bln and EBITDA of $1.39 bln - Thomson Reuters I/B/E/S.  Full Article

Sirius XM Holdings Inc reaffirms FY 2014 guidance
Friday, 14 Mar 2014 11:59am EDT 

Sirius XM Holdings Inc:Reaffirms its previously issued guidance for FY 2014.Expects FY 2014 revenue of over $4.0 billion.Expects FY 2014 adjusted EBITDA of about $1.38 billion.FY 2014 revenue of $4.15 billion and EBITDA of $1.41 billion - Thomson Reuters I/B/E/S.  Full Article

Sirius XM Holdings Inc reiterates FY 2014 guidance
Tuesday, 4 Feb 2014 07:00am EST 

Sirius XM Holdings Inc:Reiterates existing fiscal 2014 guidance.Sees fiscal 2014 revenue of over $4 bln.Sees fiscal 2014 adjusted EBITDA of about $1.38 bln.Fiscal 2014 revenue of $4.132 bln - Thomson Reuters I/B/E/S.  Full Article

Liberty Media Corp announces proposal to make Sirius XM Holdings Inc a wholly owned subsidiary of Liberty
Friday, 3 Jan 2014 04:35pm EST 

Liberty Media Corp:Says it has made a proposal to make Sirius XM Holdings Inc a wholly owned subsidiary of Liberty.Says the terms by which Sirius public shareholders would become shareholders of Liberty in a tax-free transaction in which each share of Sirius common stock would be converted into 0.0760 of a new share of Liberty Series C common stock.Says immediately prior to such conversion, Liberty intends to distribute, on a 2:1 basis, shares of Liberty's Series C common stock to all holders of record of Liberty's Series A and B common stock to create a liquid trading market for Liberty's Series C common stock.Says upon the completion of the proposed transaction, Liberty expects that Sirius' public shareholders would own about 39% of Liberty's then-outstanding common stock.  Full Article

Liberty Media Corp Announces Completion Of Initial Closing Under $500 Million Repurchase Agreement With Sirius XM Radio Inc
Thursday, 14 Nov 2013 05:52pm EST 

Liberty Media Corp announced the completion of the initial closing under the previously announced share repurchase agreement with Sirius XM Radio Inc. Pursuant to the agreement, Sirius has agreed to repurchase $500 million of its common stock from Liberty Media as part of Sirius` share repurchase program, which it recently announced was increased from $2 billion to $4 billion. Liberty Media expects to continue to own over 52% of the outstanding SIRI shares after giving effect to the repurchase. The price per share is $3.66, which is equal to a 1.5% discount to the average of the daily volume weighted average price per share of SIRI for the ten-day period beginning on the third trading day following the date of the public release of Sirius` third quarter 2013 earnings. On November 14, 2013, Sirius purchased approximately 43,712,000 shares for an aggregate purchase price of $160 million. The remaining shares are expected to be purchased in two installments, of which $240 million will be repurchased in January 2014 and $100 million will be repurchased in April 2014.  Full Article

Sirius XM Radio Inc Completes Acquisition Of Agero, Inc
Monday, 4 Nov 2013 09:40am EST 

Sirius XM Radio announced that it has completed the previously announced acquisition of the connected vehicle services business of Agero, Inc. In connection with the transaction, the business unit will change its name to Sirius XM Connected Vehicle Services Inc.  Full Article

Sirius XM Radio Inc Raises FY 2013 Guidance; Issues FY 2014 Guidance In Line With Analysts' Estimates
Thursday, 24 Oct 2013 07:00am EDT 

Sirius XM Radio Inc announced that for fiscal 2013, it expects revenue of approximately $3.77 billion, up from previous guidance of over $3.7 billion and adjusted EBITDA of approximately $1.14 billion. For fiscal 2014, it expects revenue of over $4.0 billion and adjusted EBITDA of approximately $1.38 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $3.8 billion and EBITDA of $1.18 billion for fiscal 2013; revenue of $4.17 billion and EBITDA of $1.45 billion for fiscal 2014.  Full Article

Sirius XM Radio Inc Announces Additional $2 Billion Stock Repurchase Program
Thursday, 10 Oct 2013 06:43am EDT 

Sirius XM Radio Inc announced that its Board of Directors has approved an additional $2 billion common stock repurchase program. Shares of common stock may be purchased from time to time on the open market and in privately negotiated transactions, including in transactions with Liberty Media and its affiliates. The Company will fund the repurchases through cash on hand, future cash flow from operations and future borrowings. The Company also announced that it has agreed to repurchase $500 million of common stock from Liberty Media and its affiliates at a price per share determined based on a discount to the volume weighted average price of the common stock during a period following the release of the Company's earnings for the third quarter. The shares are intended to be purchased in three installments in November 2013, January 2014 and April 2014, but the purchases may be accelerated under certain circumstances.  Full Article

Sirius XM Radio Inc Issues $650.0 Million Aggregate Principal Amount Of 5.875% Senior Notes-Form 8-K
Wednesday, 25 Sep 2013 04:46pm EDT 

Sirius XM Radio Inc reported in its Form 8-K that on September 24, 2013, the Company issued $650.0 million aggregate principal amount of 5.875% Senior Notes due 2020. The Notes were sold to J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., RBC Capital Markets, LLC, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., RBS Securities Inc., SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, U.S. Bancorp Investments, Inc. and BMO Capital Markets Corp., as initial purchasers. Interest on the Notes is payable semi-annually in arrears on April 1 and October 1 at a rate of 5.875% per annum, commencing on April 1, 2014. The Notes will mature on October 1, 2020. The Company will use the net proceeds from this offering to redeem our outstanding 7.625% Senior Notes due 2018 (7.625% Notes) and for general corporate purposes.  Full Article

Sirius XM Radio Inc to Acquire Connected Vehicle Unit Of Agero, Inc
Thursday, 15 Aug 2013 07:00am EDT 

Sirius XM Radio Inc announced that it has entered into a definitive agreement to acquire the connected vehicle services business of Agero, Inc. for $530 million in cash. The transaction is expected to close in the fourth quarter of 2013.  Full Article

Sirius XM revenue beats estimates as it adds more subscribers

- Satellite radio provider Sirius XM Holdings Inc reported a better-than-expected 11 percent rise in quarterly revenue as car owners increasingly signed on for subscriptions after their initial free access expired.

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