Like pretty much every other industry during a recession (except maybe the alcohol and fast food sectors), terrestrial radio is seeing record declines in 2008, with the entire industry having its worst year financially since 1954. [MORE]
In his keynote interview Tuesday at the Media & Money Conference, a joint production of Dow Jones and Nielsen, Karmazin wasn’t in humility mode. “We’re probably one of the top 25 media companies today,” he said of the newly merged Sirius XM, which brought together the world’s only two satellite radio companies. “I think it’s very clear that we will be the most successful company in the audio entertainment industry. I know certainly, as ranked by revenue, we’ll be there soon. Now we just need to grow our free cash flow and demonstrate that.” [MORE]