Quote:February 20, 2007
SIRIUS and XM Satellite Radio companies to merge
Washington, D.C. - SIRIUS Satellite Radio and XM Satellite Radio have announced they have entered into a merger of equals, with a combined enterprise value of approximately US$13 billion, which includes a net debt of approximately US$1.6 billion.
Under the terms of the agreement, XM shareholders will receive a fixed exchange ratio of 4.6 shares of SIRIUS common stock for each share of XM they own. XM and SIRIUS shareholders will each own approximately 50 per cent of the combined company.
The companies will continue to operate independently until the transaction is completed, and will work together to determine the combined company's corporate name and headquarters location prior to closing. The companies have a combined subscriber base of approximately 14 million. The transaction is subject to approval and is expected to be completed by the end of 2007.
Guess the satellite radio wars are over already....
well thats good to know
i had Sirious for about a month and then cancled it.....i realised that i only listen to 5 or 6 channels on it and that it didn't worth $15 per month.
their prices should really go down....so for now im stickin with my stock deck :)
I am a XM subscriber since 2002 and I listen to it online 8 hours a day ( week time ) and on my way home in my car. I really love it , if they merge ,it's cool with me , I just wish I was able to buy a life time subscription to get rid of the renewal thing.. it's annoying.. I have 2 radio on my account plus 2 of my buddys so I have 4 radio ID that I never remember which one is which... :blink:
I have a sirius radio. I love it too but only listen to one channel. I dont mind the money since I pay for the year in one shot. Oh...and spending money isn't an issue for me...or should I say wasting money. :P
i listen to XM all day, i wonder if there will be any benefit to the consumer from this merger of equals
GREAT no competition means prices are going to sky rocket,,, go from 15 to 20 to 30 a month...