Sirius, XM Finalize Merger
The new combined company, Sirius XM Radio, begins its life with a whopping combined subscriber rate of 18.5 million users and will be traded on the Nasdaq under the symbol "SIRI."
Under the guidance of high-profile broadcasting and media heavyweight Mel Karmazan, the Sirius XM Radio CEO announced today: "Combined, SIRIUS XM Radio will deliver superior value to our shareholders. By offering more compelling packages and the best content in audio entertainment, we are well positioned for increased subscriber growth."
Despite the rosy picture painted by Karmazan on the merger of the two satellite radio companies, shares of Sirius XM fell 28 cents to $1.60 amid heavy volume in early morning trading.
The merger of Sirius and XM Radio was hotly contested from all sides of the broadcasting industry and the political isle. Critics argued that the combined satellite group would form a monopoly. The final FCC approval of the merger saw support for the deal fall along party lines, with Republican commissioner Deborah Taylor Tate casting the tie-breaking vote.
Sirius XM Radio "SIRIUS and XM Complete Merger"
National Association of Broadcasters "Say No to the Merger-to-Monopoly"
Published by John Ford
John is a Florida native with a background in Broadcasting, Print & New Media. An expert in Broadcast Talent & Creative Services with stints at ABC & as VP/New Media at Sabo Media. A respected writer for Par... View profile
HD Radio, Sirius and XM Satellite: A Short TutorialDescribes what HD Radio, Sirius and XM Satellite have to offer and what they cost.- Struggling Sirius XM Radio Plans to Stream Radio to iPod Touch and iPhoneSirius XM Satelite Radio is planning to stream directly to the Apple iPod Touch and the Apple iPhone in an effort to gain some much needed revenues.
What the Hell Happened to My XM Radio?For XM subscribers, this week has meant suddenly having to adjust to new radio stations, as the Sirius/XM switchover occurred suddenly and without warning. How do the new Sirius...- From XM to Sirius XM; The Downfall of Satellite RadioIn November 2008, the FTC ruled that the only two choices for satellite radio could merge. Sirius and XM combined and they are now known as Sirius XM Radio.
Sirius and XM Merger FINALLY Approved by FCCOn late Friday, 7/25/2008, the Federal Communications Commission (FCC) finally passed approval for the year and a half long merger between Sirius Satellite radio and XM Satellit...
- What Does the Sirius XM Radio Merger Mean for Consumers?
- Sirius XM Radio Takes a Step in the Right Direction
- Sirius XM Merger Draws Near; What Does it Mean for You
- Strong Third Quarter Results for SIRIUS Satellite Radio
- Justice Department Approves XM-Sirius Satellite Radio Merger
- Merger of Sirius and XM Satellite Radio to Lower Prices a "Pipe Dream"
- Rival Satellite Radio Companies Are Merging, XM and Sirius Announce Today
2 Comments
Post a CommentGood work. Welcome to AC.
FCC means "delay a good thing for as long as possible before caving in" in Swahili.