XM’s Panero On Sharing O&A With CBS During the Q&A following Thursday’s announcement of its Q1 2006 financial results, XM CEO Hugh Panero was asked about sharing Opie & Anthony with CBS Radio...
Asked if this kind of deal opens up a potential future of satellite radio sharing with terrestrial radio much like broadcast TV does with cable, Panero responded, “They [O&A] were one of our top 10 shows on XM. They're obviously very popular. My experience having been in the cable TV industry is that when you have these overlapping distribution technologies services companies that everybody tries to find some way to work together. We have found a pretty unique arrangement whereby CBS had a challenging situation with the people they currently had on their radio stations. Opie and Anthony provides them with this very proven radio talent and we get branding and marketing messages along with syndication revenue. We do it on a case by case basis. Our Bob Edwards show is actually syndicated on the weekends to some public radio stations.”
Panero added, “I have had a cordial relationship with Joel Hollander for awhile. Obviously competitors in some environments, we are neutral in others and I think in regard to this deal, we're kind of in love with it. The attributes of the deal in its totality is really what convinced us it was a smart thing for both companies.
