I'm not a member and I get in fine. But this is one of his Board Reflections podcasts with the catchy "It's Allan Sni-i-i-fen" jingle, so there's nothing to actually read.
I cut out the audio of just the O&A part and put it in the second link.
He's looking at it from a purely business standpoint: the boys are bringing in plently of subs and they will be fine on a merged XM/Sirius regardless of Mel & Howie. But since CBS is dumping the talk format except for them, they might prefer to go with cheaper, albeit less talented, jocks for morning drive that would play music along with the yuks. I guess he means something like what Kidd Chris is doing now. I thought he might get into Mel's comments about not wanting to share talent with terrestrial, but he never did.