Satellite Radio Merger: XM and Sirius Get Together
Sirius Satellite Radio, Inc. and XM Satellite Radio Holdings announced this morning that an agreement has been reached to merge the two companies.
The deal would bring together the only two companies in the subscription-only satellite radio business, and is expected to receive scrutiny from federal regulators.
Shareholders of XM and Sirius would each own approximately 50% of the new company.
The companies did not discuss what the new company would be called, though they described it as a merger of equals.
Sources:
Associated Press
The Rocky Mountain News
Published by Sam DeWitt
Former lead singer of a local band... football fan, softball hero, and Examiner.com Channel Manager. View profile
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4 Comments
Post a CommentIt sounds like this will never happen. http://biz.yahoo.com/ap/070220/xm_radio_sirius.html?.v=3
Right on Timothy! I too used to subscribe to XM, but I am glad I waited to renew my subscription. This will just become another crappy station you overpay for.
You are kidding me! I cannot believe this. I don't even subscribe to either--though I used to be an XM subscriber--and I'm outraged. This whole concept that free market economics leads to competition and lower prices is a joke. Leonardo: No, you won't get all the channels. This merger will result in the paring away of the least popular channels and you'll be paying more for less. It's time to go back and fix the biggest mistake of the Clinton presidency. No, not Lewinsky; the telecommunications act. That's why three companies own every cable station and they keep playing the same seven movies every month. Now get ready for satellite radio to be just as lame as mainstream radio. If you are a subscriber to either of these, I would suggest getting on the ball and expressing major disapproval because I guarantee many of you will soon find yourself without that music or talk show that you left airwave radio for in the first place.
Sweet. Does this mean I get ALL the channels?!