Sirius Satellite Radio

* Sirius Satellite Radio Inc. agreed to pay former Viacom Inc. President Mel Karmazin $1.25 million a year in salary to be the company’s new chief executive. The five-year contract also calls for Karmazin to receive options for 30 million shares in Sirius. Karmazin also told Fox News Channel that he bought 1.5 million Sirius shares.