Total Sports Media Inc. (fka TSMI)

[Odessa99]

To be perfectly candid, I would be surprised if Howard ever left satellite radio. I know he has publicly expressed interest is doing so, but I consider it more of a negotiating stance than a real intent on his part. And even if he did leave Sirius, I don't think they would see any sort of significant subscriber loss. And I believe that is so because there's a great deal of other content to enjoy, and within the car, satellite radio is still the most convenient delivery platform audio entertainment. Their professional sports broadcasting contracts alone are reason enough for most subscribers to remain loyal.

But the great thing here for StreamTrack is that this it is not a zero sum game (meaning that one does not have to avoid StreamTrack just because they are a satellite radio subscriber; there is no incremental cost to use both). So just an a television viewer does not have to avoid traditional free broadcast television networks (NBC, ABC, CBS, FOX) because they pay for Cable TV networks, one does not have to avoid free StreamTrack radio stations because they pay for satellite radio.

Addtionally, StreamTrack might be the perfect in-the-home alternative for the Sirius subscriber that does not want to pay extra per month to add the Sirius internet radio option to their normal Sirius car-based subscription.

As always, simply my opinion.

Odessa, so what you are saying is the main difference between Sirius and StreamTrack is the talk tier feature of Sirius. So if Howard retires soon, which he has talked about, then Sirius is relatively in STTK's category, with the exception of it costing $15 per month whereas STTK is free, and generates its income from adds, and passes along freebies to listeners. If that assumption is correct, I like our chances.

STTK