Sirius XM Holdings Inc. (NASDAQ:SIRI) and Live Nation Entertainment, Inc. (NYSE:LYV) make a great combination said Gregory Maffei, chairman of the two companies and CEO of Liberty Media Corp (NASDAQ:LMCA). He said that Live Nation differentiates Sirius, while Sirius’s help to promote Live Nation appears as a very logical step. He said that the two companies look great when they work together. However, Maffei could not hold back his disappointment as both Sirius XM Holdings Inc. (NASDAQ:SIRI) and Live Nation Entertainment, Inc. (NYSE:LYV) have not taken steps in this direction.
Play it together
Maffei explained that Live Nation has a big opportunity to tap the high-value customers of Sirius XM Holdings Inc. (NASDAQ:SIRI). But, he admitted that there was a lack of initiation from his side as well. Maffei revealed his opinions about the two companies while addressing at the Deutsche Bank 2015 Media, Internet & Telecom Conference, held in Florida. At the event, Maffei also hammered the Federal Communications Commission’s (FCC) proposal to bring Internet under public service as per Title II of the Telecommunications Act.
Not a priority
Meanwhile, Maffei’s opinion about more joint participation in between Sirius XM Holdings Inc. (NASDAQ:SIRI) and Live Nation Entertainment, Inc. (NYSE:LYV) was endorsed by Macquarie’s Amy Yong. The analyst said that though there is no need of merging the two entities, which will be a complicated task but there is no harm in working closely with each other. She added that both the companies could help one another through cross-promotion and jointly marketing their products and services. In response, Michael Rapino, CEO of Live Nation said that their focus is on acquisitions. He said that they might look for opportunities where Sirius could broadcast the company’s concerts and in turn, Live Nation could help promote Sirius, but interest is less for tie-ups.
At the end of the last trading session, Sirius XM Holdings Inc. (NASDAQ:SIRI) closed at $3.89, up by $0.03.