“Our view on satellite radio remains bullish, and we believe that pay-radio represents a rare opportunity to capture secular growth as an investor and that duopoly economics will benefit returns over time.”
“We think [Sirius'] consistency delivering on its guidance and its focus on cost and free cash-flow yield will help evolve the shareholder base in 2006.”
“We deem this a positive for the stock given that media stocks are now primarily viewed as value stocks that need to deliver free cash flow to outperform.”
