I was previously a Sirius subscriber, and I think a stockowner for a brief spell. While it's a fine and neat product, it seems a very niche one. With Apple, we get music streaming as part of the cloud/tv/music bundle, so it didn't make any more sense. It was novel 20 years ago, but simply isn't as customizable now. All the young people talk about Spotify and such. Sirius might be different now, but a couple years ago when we dropped it, you couldn't search out songs and download them for offline playing and create lists like you can with all the streaming services. With the proliferation of good cell phone coverage in just about anywhere except for the most rural places, there seems to be little need for this now. It strikes me as not having much of a moat. I was puzzled by this too. Sometimes Ted and/or Todd buy things for their own rationale, and I'm not going to second guess them, given their track record.