Piolin To Launch A Channel On Sirius XM Radio Inc (NASDAQ:SIRI)

Posted by Nathan Alexander October 8, 2013 0 Comment 1612 views

Come 18 October and Eddie “Piolin” Sotelo will be back on the airwaves. He is all set to launch a new Spanish-language channel on Sirius XM Radio Inc (NASDAQ:SIRI). Universal Radio had scrapped his highly-popular long-standing program in July amidst some sexual harassment complaints that had been lodged by a former employee. This new show is a morning, 4-hour live show that will be broadcast from L.A and will feature discussions about current events, listener call-ins and celebrity interviews.

In a statement, Sotelo said that he is honored that Sirius XM Radio Inc (NASDAQ:SIRI) believes in him and that he is happy that the show will finally be heard from one coast to the other. When Univision showed him the door, it seemed like his downslide had begun but the deal with Sirius XM Radio Inc (NASDAQ:SIRI) might just see him come back into the limelight. Sotelo denied all the sexual harassment complaints and said that he had been victimized.

Monday’s trading session

In Monday’s trading, Sirius XM Radio Inc (NASDAQ:SIRI) dropped by 0.52%. The opening price of the shares was $3.08, which was also the intraday high and dipped to a close of $3.05. Approximately 20.68 million shares were traded on Monday while an average volume of 36.40 million shares were traded over a 30 day period. The 52-week low of Sirius XM Radio Inc (NASDAQ:SIRI) shares is $2.55 and its 52-week high is $3.99. The company has a market capitalization of $24.59 billion.

The company

Sirius XM Radio Inc (NASDAQ:SIRI) broadcasts its sports, music, entertainment, talk, news, comedy, weather & traffic channels in the U.S. These channels are available on a subscription fee via the company’s 2 satellite-radio systems. Subscribers are able to receive some of the music as well as other channels via the web and mobile device applications. As of 31 December 2011, the company had 21,892,824 subscribers.

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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