“Dolbys business model remains in transition.”
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“Our view on satellite radio remains bullish, and we believe that pay-radio represents a rare opportunity to capture secular growth as an investor and that duopoly economics will benefit returns over time.”
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“Our conviction level has been buoyed by Sirius fourth-quarter results and long-term free cash flow outlook.”
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“We think [Sirius] consistency delivering on its guidance and its focus on cost and free cash-flow yield will help evolve the shareholder base in 2006.”
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“We deem this a positive for the stock given that media stocks are now primarily viewed as value stocks that need to deliver free cash flow to outperform.”
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