Mel Karmazin
Mel Karmazin
Melvin Alan "Mel" Karmazin is an American executive. He co-founded and was the president of Infinity Broadcasting and eventually became the president and CEO of CBS. From 2004-2012, he was the CEO of Sirius Radio. In October 2012, Karmazin announced that he would be stepping down on February 1, 2013. Upon his departure, John C. Malone took over Karmazin's role at SiriusXM...
NationalityAmerican
ProfessionBusinessman
Date of Birth24 August 1943
CountryUnited States of America
believe infinity largest offering operating outdoor radio segment shares unlock value
We believe that in offering shares of the new Infinity Broadcasting, we will unlock the value of our largest and fastest-growing operating segment -- our radio and outdoor businesses.
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This is a huge win for WWF as they continue to build their powerhouse brand, and a huge win for Viacom as we look to capitalize on the incredible breadth of our media holdings to drive our growth and financial performance.
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From the Internet to television to radio, Viacom is going to be there, ... It is the only company that can reach every demographic from (children's TV program) Blue's Clues to MTV to CBS.
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Blockbuster has been picking up market share and growing the business, ... very enthusiastic about its future prospects.
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The company expects to benefit from the ratings improvement at the CBS television network which, combined with the reduction in its cost structure, will enable the network to become a positive contributor to the company's future cash flows.
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The business model is still principally subscriber driven with advertising being a nice add-on.
asset certainly interested price
I can't tell you what the price would be, but it certainly would be an asset we would be interested in if it were available,
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Satellite radio is very hot and is continuing to be one of the fastest-growing products in consumer electronics history.
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Satellite radio is very hot and is continuing on pace to be one of the fastest-growing products in the consumer electronics industry. We are experiencing a strong start to the new year, and we expect to end 2006 with over 6 million subscribers.
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This market is terrific for Viacom to participate in,
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During the quarter, we announced acquisitions in virtually all operating areas of the company -- in television stations, the Internet, outdoor advertising and syndication, ... We believe these new investments will create significant value at both CBS and Infinity in the years ahead.
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There could be no better time to fully integrate Infinity with Viacom's tremendous portfolio of assets. Infinity is performing at record levels and continues to generate a tremendous amount of free cash flow that will now fully benefit Viacom.
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We think that Howard Stern is going to add subscribers every single day. Obviously for the 20 years that he was with his prior employer, he created value for them every single year and we obviously fully expect that to continue going forward.
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Today's announcement is the culmination of a process that began with the merger of Viacom and CBS and realizes an important opportunity to bring new efficiencies to the broadcast business, while maintaining the distinct voices of CBS and UPN,