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02.02.2023 / 18:01

SiriusXM Matches Wall Street Q4 Forecasts, But Projects Flat Revenue In 2023 Due To Automotive Industry Softness

Audio entertainment company SiriusXM reported fourth-quarter results that were largely in line with Wall Street expectations, with total revenue of about $2.3 billion and earnings per share of 9 cents.

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12.02.2024 / 19:03

SiriusXM Layoffs Hit 3% Of Workforce

Satellite audio firm SiriusXM is trimming its global workforce by about 3% in an effort to become “more efficient, agile, and flexible,” CEO Jennifer Witz wrote in a memo to employees.

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12.02.2024 / 17:59

SiriusXM to Lay Off 160 Employees, About 3% of Workforce

Todd Spangler NY Digital Editor SiriusXM is eliminating about 160 jobs, a move to cut expenses that represents a layoff affecting just under 3% of the satellite radio and audio streamer’s workforce. Jennifer Witz, CEO of SiriusXM, announced the layoffs in a memo to staff Monday.

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08.11.2023 / 17:55

Howard Stern, Kevin Hart, Kelly Clarkson & More Help SiriusXM Unveil Sweeping Rebrand, New App And Updated Subscription Pricing

SiriusXM unveiled an extensive rebrand and streamlined app, with Howard Stern, Kevin Hart, Kelly Clarkson and other talent joining execs at a kickoff event in New York.

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06.03.2023 / 19:07

SiriusXM To Lay Off 475 Staffers, 8% Of Workforce, In “Uncertain Economic Environment”

SiriusXM is the latest media company to lay off staff as the industry retrenches. CEO Jennifer Witz said today the satellite radio broadcaster, podcaster, owner of streaming music service Pandora and home to Howard Stern, will be cutting 475 jobs, or 8% of its workforce “to secure the long-term health and profitability of our business.”

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09.05.2022 / 17:37

SiriusXM Hires Disney’s Jessica Casano-Antonellis as Head of Communications

Todd Spangler NY Digital EditorJessica Casano-Antonellis, after more than four years at Disney where she led PR for Disney+ and Hulu, has joined SiriusXM as SVP and head of communications.Casano-Antonellis succeeds Patrick Reilly, who after 17 years is leaving SiriusXM. Casano-Antonellis reports to CMO Denise Karkos and is responsible for all aspects of the company’s communications function, including strategic communications, brand reputation management and media relations.“Jessica is a valued and respected leader who brings a wealth of strategic communications experience in the media, entertainment and technology industries to SiriusXM,” Karkos said in announcing the hire.

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01.02.2022 / 17:07

SiriusXM Returns To Profit; No Spotify Spillover As Streaming Audio Player Posts Solid Q4 Numbers

Satellite ratio and podcasting streamer SiriusXM returned to profit in the fourth quarter, posting net income of 8 cents a share, compared with a loss of 16 cents in the year-earlier period.

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13.12.2021 / 18:22

Disney Streaming CTO Joe Inzerillo Exiting to Join SiriusXM

Todd Spangler NY Digital EditorJoe Inzerillo, a key architect of Disney Plus and the company’s other streaming services, is joining SiriusXM as chief product and technology officer.Inzerillo, who starts at SiriusXM on Jan. 10, 2022, will report directly to CEO Jennifer Witz, and will lead a team of more than 1,500 engineers, product leaders and technology professionals as they enhance SiriusXM’s capabilities, create an even better customer experience, and drive scale.

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hollywoodreporter.com

02.02.2021 / 21:02

SiriusXM Adds Satellite Radio Subs, Takes $976M Pandora Charge

Audio entertainment giant SiriusXM, the home of Howard Stern, said on Tuesday that it added 279,000 subscribers in its satellite radio unit during the fourth quarter and lost 63,000 in its Pandora business, an improvement over a year-ago loss of 88,000. As previously signaled, the firm also recorded a nearly $1 billion non-cash impairment charge for its Pandora music streaming service, due mainly to the impact of per-play royalty payment costs.

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02.02.2021 / 17:04

SiriusXM Swings To Q4 Loss On $976M Pandora Charge; Sales Up, Adds Satellite Radio Subs

SiriusXM swung to a $677 million net loss last quarter from a $243 million profit the year before on a one-time, noncash charge of $976 million at Pandora. The anticipated hit was based on Pandora’s royalty cost structure.

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09.01.2021 / 00:55

SiriusXM Plans to Write Down Pandora by $1 Billion

Jem Aswad Senior Music EditorEven with a streaming market that’s actually been made more robust by the pandemic, SiriusXM plans to write down the value of its Pandora streaming service by around $1 billion, down 40% from the $3.5 billion price it paid for the company at the close of the acquisition in February of 2019, as noted by Billboard.The company cited the streamer’s “royalty cost structure” as the cause in a press release that led with good news about SiriusXM meeting or exceeding its guidance for 2020 and adding more than 900,000 self-pay subscribers.

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hollywoodreporter.com

08.01.2021 / 17:55

SiriusXM Warns of $1 Billion Impairment Charge for Pandora

SiriusXM, the home of Howard Stern, said it expects to record a $1 billion non-cash impairment charge for its Pandora music streaming service, due mainly to the impact of per-play royalty payment costs. "The uncertainty we have this year and the potential for higher royalty costs will likely drive lower margins and have a meaningful impact on Pandora's profitability over the coming years and this drives the bulk of the expected impairment," Jennifer Witz, newly-installed CEO of the audio entertainment giant, told the 2021 Citi TMT West Conference during a session that was webcast on Thursday.

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05.11.2020 / 20:43

Liberty Media CEO Reassures On SiriusXM Host Howard Stern Re-Upping; Reports Softer Q3 For Atlanta Braves, Formula One

Jill Goldsmith Co-Business EditorLiberty Media CEO and SiriusXM chairman Greg Maffei said the satellite broadcaster’s star host Howard Stern, whose contract ends this year, is likely to re-up and apologized that a recently announced top management reshuffle was handled too abruptly.“I think we were surprised by the market reaction and maybe in hindsight we should have been smarter,” Maffei said on a conference call today. Liberty is the controlling shareholder of SiriusXM, which announced unexpectedly in mid-September that its highly regarded CEO Jim Meyer and longtime CFO David Frear were stepping down.

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hollywoodreporter.com

15.09.2020 / 19:45

SiriusXM Names Jennifer Witz CEO, Jim Meyer to Become Vice Chair

Satellite radio giant SiriusXM said Tuesday that CEO James Meyer will step down as CEO on Dec. 31 and become vice chairman.

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15.09.2020 / 16:25

AMC Networks’ CFO Jumps To SiriusXM As Satellite Radio Co’s CEO Jim Meyer & CFO Step Down

Jill Goldsmith Co-Business EditorIn a lively morning of executive shuffles, AMC Networks said Sean Sullivan, chief financial officer, will be jumping to SirusXM in mid-October, as the satellite broadcaster announced that its CEO Jim Meyer and its CFO David Frear are both stepping down. AMC Networks said it will appoint an interim CFO or successor prior to Sullivan’s departure.SiriusXM said Meyer will retire on December 31 and Jennifer Witz, president, Sales, Marketing and Operations, will take the reins as chief executive.CFO Frear “will be pursuing other opportunities, effective immediately,” SiriusXM said.

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