Kit Spring Quotations

XM shares have been weak recently, mainly because of expected weakness in a couple of key metrics in 2006.

Return on investment in PPM is increasingly uncertain.

Fundamentals will continue to be lackluster this year. The ad environment will get more challenging.

Just like 'The Sopranos' fits HBO better than NBC, ... I think that Stern's content probably is a better fit for satellite radio than regular radio.

It could be a slight threat to satellite radio but I would expect they'll coexist.

Real might need to look for a merger partner and I think the assets are valuable.

We estimate Napster's takeover value at $3 to $5 per share, with about half the value coming from the company's cash position.

We don't know who it will be, but one such deal will be announced before the end of the year,

Revenues slightly exceeded guidance and they didn't burn through as much cash as I expected.

Rarely does Clear Channel make an acquisition that isn't accretive to earnings, and Sirius wouldn't be accretive, and Clear Channel also has a seat on XM Satellite's board, which it would probably have to give up if it wanted a stake in Sirius,

They have the No. 1 women's Web site and a lot of new advertisers. You're seeing a lot of advertisers who were historically on Oprah or in Cosmopolitan (magazine) go there.

It's a relief that revenues are no longer declining for Clear Channel.

It's a very high fixed-cost business. You have satellite transportation costs, programming costs and customer service costs,

I guarantee you those people are not listening to terrestrial radio as much.

I do think that long-term, over a five-to-10-year period (cell phone radios) are very real threats,