So today, you might remember, was supposed to be the big day when Howard Stern revealed when, or even if, he would be coming back to his radio show. But this is the day, and the report did not emerge. In fact, what emerged was another delay, a point that sent investors hustling for the door at satellite and streaming music giant SiriusXM (SIRI). Shares were down nearly 2.5% in the closing minutes of Tuesday’s trading.
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Basically, Stern will not be returning today, despite saying earlier that he would be. Stern’s staffers got the word yesterday evening in an email to the 95 employees who make up his operation. Reports noted that Stern had “carefully crafted” the email, which was “out of the blue,” but was intended to “…be reassuring and prevent panic.”
Though this does not seem to be a permanent departure, the news had to be disconcerting, particularly given the conditions under which it was released. Stern cited “…frustrations over the new contract” as a key reason to miss the Tuesday show. And with some health drama at home—Stern’s 98-year-old mother, Ray Schiffman Stern, is reportedly in poor health—a frustrating contract would be insult to injury. But Stern did say “We’ll be back on the air live.” It was really just a matter of when.
Firing Up the Sports
Meanwhile, we know about how sports are becoming a big part of streaming media operations, and SiriusXM is no different. Week one of the 2025 college football season recently kicked off, and Sirius will have coverage of another one of the biggest games.
The New Mexico Lobos will be taking on the Michigan Wolverines this Saturday at 7:30 p.m., and of course Sirius will be there. It will have live coverage of the game—both home and away feeds—along with a variety of background events like interviews, analysis, and news from the NCAA world. The Lobos feed will be available on Channel 387, while the Wolverines get NBC Sports Radio coverage on Channel 85.
Is SiriusXM Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on SIRI stock based on three Buys, three Holds, and five Sells assigned in the past three months, as indicated by the graphic below. After a 24.23% loss in its share price over the past year, the average SIRI price target of $22.64 per share implies 1.73% downside risk.
