Media Person of the Year 2008
Mel Karmazin

Image posted by mdudlik

Mel Karmazin. Satellite-radio rivals Sirius and XM finally completed their long-awaited merger in 2008. Now comes the hard part. CEO Karmazin is facing a serious cash squeeze, with the new company's $1 billion in debt coming due next year. Sirius XM star Howard Stern, the one-time King of All Media, now has a fraction of the audience and clout he once enjoyed on terrestrial radio. Industry observers say that satellite radio's "value proposition" will become "very questionable" once Internet radio is widely available in automobiles. Karmazin, however, remains confident. He predicts: "We will be the most successful company in audio entertainment." ( Edited by mdudlik)

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