Liberty Media, which is a major shareholder in both companies, would like the concert promoter and the satellite-radio broadcast operator to cross-promote their services, which are both in the music and entertainment business. But Maffei, in a talk at a Deutsche Bank investor conference this week in Palm Beach, Fla., appeared frustrated that the two companies haven't done more to collaborate.
"Using Live Nation to differentiate Sirius and using Sirius to promote Live Nation is very logical," said Maffei. "But I remain somewhat disappointed that more things haven't happened there," he said. Live Nation, he said, has a lot of unique elements that it has demonstrated through deals, including a pact with Yahoo! that included the streaming of concerts. Sirius, whose receivers now come standard in many new cars, has appeal with higher-income customers who are probably buyers of tickets to concerts promoted by Live Nation.
"I'd say honestly we haven't done as well together on that," said Maffei, a member of Live Nation's board of directors. "That is probably my fault."
Media officials at both Live Nation and Sirius XM declined to comment on Maffei's comments.