Yes Virginia, There is a Santa Clause
In February of this year the outlook for Sirius XM satellite Radio seemed to be best explained in one word: BANKRUPTCY. The stock was trading at an unimaginable 5 cents per share on the news. Investors and subscribers were preparing for total annihilation. But in an 11th hour rescue by John Malone of Liberty Media, the Sirius XM ship began to shift directions. Now, only 10 months later, Reuters reports "Holiday sales are on target" and the company recently announced Q3 earnings were the first glimpse at profitability for the ailing satellite radio company.
Hollywood was watching the dramatic sequence of events unfold and Mohr Productions, Inc., an award winning documentary film company, released the movie "Stock Shock-The Short Selling of the American Dream" on DVD to tell audiences the entire story. "We wanted to get the story out as soon as possible because it was such a great cliffhanger,"
From interviews with the founder of satellite radio (a transgender woman who comes across as the beautiful mind behind the business) to investigations into alleged manipulation of the stock (SIRI) by short sellers, "Stock Shock" gives a birds-eye view of a phoenix rising from the ashes.
Sirius XM CEO Mel Karmazin spoke at the Reuters Global Media Summit in New York on Monday. Karmazin said that Sirius XM could team with Liberty Media Corp. to take its content across the globe, via a partnership with WorldSpace Inc.
For Sirius XM, it's beginning to look a lot like Christmas.
"Stock Shock" has been picked up for future worldwide distribution, but is available now on DVD at www.stockshockmovie.com and Amazon.com.
