NEW YORK ( TheStreet) -- The more things change, the more they remain the same. Although Sirius XM (SIRI - Get Report) has done well this year, defying the odds and growing free-cash-flow (FCF) in the face of cheaper alternatives, like Pandora (P), there are still concerns about its business model, particularly what the company must do to maintain its strong profit margins, while also growing revenue.When it comes to Sirius' business model, there has always been doubt. Truth be told, under former CEO Mel Karmazin, who sold 40% of the company to Liberty Media (LMCA) in exchange for a bag of beans, I never believed Sirius would have lived to see this day, much less questioning its FCF growth rate.
Time to Get Serious, Sirius
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