After an analyst lowered his rating from Buy to Neutral, share prices of international satellite radio service Worldspace fell 21% on Friday to $9.15, down 37% so far this
year. "We cannot recommend purchase until acceptable price points and churn rates become more apparent," the
analyst said. Worldspace is the only provider of satellite radio outside of North America, South Korea, and Japan,
broadcasting to Europe, the Middle East, Africa, and Asia. XM took a $25 million stake in
Worldspace last year before they went public, and they currently operate stations with Worldcast that are broadcast to
their American subscribers. Worldspace claims that they are responsible for 10% of XM's original content and music
programming. Worldspace offers channels such as CNNi, BBC, NPR, Fox News, Fox Sports, Virgin Radio UK, as well as
Hindi, Bengali, Punjabi, Nigerian, and French programming.Shares of Worldspace Tumble
After an analyst lowered his rating from Buy to Neutral, share prices of international satellite radio service Worldspace fell 21% on Friday to $9.15, down 37% so far this
year. "We cannot recommend purchase until acceptable price points and churn rates become more apparent," the
analyst said. Worldspace is the only provider of satellite radio outside of North America, South Korea, and Japan,
broadcasting to Europe, the Middle East, Africa, and Asia. XM took a $25 million stake in
Worldspace last year before they went public, and they currently operate stations with Worldcast that are broadcast to
their American subscribers. Worldspace claims that they are responsible for 10% of XM's original content and music
programming. Worldspace offers channels such as CNNi, BBC, NPR, Fox News, Fox Sports, Virgin Radio UK, as well as
Hindi, Bengali, Punjabi, Nigerian, and French programming.
