OK – I found some news. SIRI is apparently taking steps to ‘beef up’ its Spanish language programming. They’ve hired a popular radio broadcaster just recently fired by Univision 3 weeks ago related to sexual harassment allegations. Some may think Sirius-XM is going to trample or challenge EVC’s turf.
I tend to agree with #$%$. The total volume at 3:30 is only marginally more than average daily volume. This does not seem to be a stampede to sell shares. Moreover, SIRI has its own problems. While I am sure that it is interested in getting a good foothold in the Hispanic market, EVC is better situated there. The drop in price over the past several days, although precipitous, may simply mark a buying opportunity. Given the strong fundamentals, I think I might well increase my position here.
I think I'll go with insider sales from a former employee as the short term needle mover over the movement of a talk personality perv from one competitor to another. Particularly in radio which just doesn't matter much to EVC.