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Sirius XM Radio Inc (NASDAQ:SIRI) to Start New Entertainment Channel to Capture More Users

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Geoff Knight By Geoff Knight | GeoffKnight@fiscalinsider.com The Post-Standard
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on August 13, 2013 at 01:08 pm

Sirius XM Radio Inc (NASDAQ:SIRI) announced today that Eddie ‘Piolin’ Sotelo, Spanish-language radio’s top personality, will launch a new entertainment channel exclusively on SiriusXM, anchored by his own daily, morning-drive show, “El Show de Piolin.”  The satellite radio provider has made a substantial investment into Latino programming and boasts one of the most impressive suites of Spanish language channels available.

Piolin popularized the Spanish-language morning drive format in many major Hispanic markets.  Now, for the first time, he will have true national platform.  The move makes perfect sense considering that the fastest growing population segment in the United States is the Hispanic segment.

SiriusXM has not yet disclosed a launch date, but has stated that it will be “later this year”, implying that we are only months away from this terrific addition to the line-up.  Details on launch date of the channel and Piolin’s daily show will be announced soon.

Sirius XM Radio Inc. closed at $3.83 per share on Monday with a gain of 0.26%. The stock had been presenting intraday price fluctuations in the range of $3.81 at low price to $3.85 at high price on Monday. The stock presently has 52 week low price level at $2.33 and 52 week high price level at $3.85 per share.

Sirius XM Radio Inc (NASDAQ:SIRI)’s outstanding shares in the market amount to a volume of 6.25 billion to present a market cap of $23.93 billion. The trading volume for this company on Monday was reported to be at 22.20 million shares, while the stock’s average trading volume had been at 46.84 million shares per day. The beta of the stock remained 2.16 and the EPS of the stock remained 0.07. The shares outstanding of the stock remained 6.25 million.