Sirius plans to buy XM in $4.6 bln stock deal
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Sirius Satellite Radio  plans to buy U.S. rival XM Satellite Radio  for $4.6 billion in stock to bring entertainers such as Oprah Winfrey and shock-jock Howard Stern under one roof, but a top regulator said the deal would face a tough time winning approval.
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U.S. stocks rose on Tuesday, helped by better-than-expected results from Wal-Mart Stores Inc.  and a handful of merger deals, including a plan by Sirius Satellite Radio  to buy rival XM Satellite Radio  for $4.6 billion.
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The two main U.S. satellite radio  providers, Sirius Satellite Radio  and XM Satellite  Radio  on Monday said they would merge in a  stock-for-stock deal, a move that has been long expected in the  young industry.
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By SETH SUTEL NEW YORK - XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc., rivals in the fledgling satellite radio industry, have agreed to combine in a deal that investors hope will result in lower costs, assuming it overcomes significant regulatory hurdles.
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McLEAN, Va. -- XM Satellite Radio Holdings Inc., which last week announced plans to combine with rival Sirius Satellite, on Monday reported a narrower fourth-quarter loss as a larger subscription base led to a 45 percent boost in revenue.
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US satellite radio firm Sirius plans to acquire rival XM for $4.6bn, but the move could come under tough scrutiny.
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XM Satellite Radio Holdings Inc.  XMSR.O shares rose nearly 6 percent before the bell on  Wednesday ahead of a news conference the company is holding in  conjunction with Major League Baseball.
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Sirius Satellite Radio and larger rival XM Satellite Radio Holdings have both announced gains in subscribers as 2004 draws to a close.
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XM and Sirius are winning support for their once-controversial merger.
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NEW YORK/WASHINGTON  - U.S. satellite radio  companies Sirius  and XM  promised on Monday a  variety of subscription packages that cost up to 46 percent  less than current plans if their merger is approved.
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If the merger between XM Satellite Radio and Sirius Satellite Radio is approved, the combined company would offer new pricing plans to allow consumers to pay only for the stations they want, Sirius chief executive Mel Karmazin said yesterday.
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JUST IN Satellite radio providers XM and Sirius confirmed the rumors Monday, announcing a surprise $13 billion merger of equals, which would keep Sirius CEO Mel Karmazin and XM Chairman Gary Parsons in their respective roles.
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(InfoWorld) - The U.S.'s two satellite radio operators, Sirius Satellite RadioÂ and XM Satellite Radio Holdings announced Monday they plan to merge, pending a potentially difficult approval process. The all-stock deal will see XM shareholders receiving 4.6 shares of Sirius stock for each XM share they own. The new company would be worth $13 billion, based on the companies' estimates, although neither company has ever turned a profit. Sirius and XM combined lost over a billion dollars last year on total revenues of about $1.5 billion. Because the two are the only companies licensed by the U.S. Federal Communications Commission (FCC) to offer satellite radio services, the merger may face regulatory opposition over creating an industry giant that would be hinder competition. Sirius CEO Mel Karmazin will become the new company's CEO, with Gary Parsons, currently XM's chairman, set to become its new chairman. Executives from both companies will continue in their present roles until the deal closes, expected by the end of 2007. The two companies pioneered the concept of subscription-based radio services, delivered nationwide via satellite. Both Sirius and XM charge subscribers $12.95 per month for their services. Sirius surprised the radio world in 2004 when it signed shock-jock Howard Stern to a five-year, $100 million contract. Stern remains the network's chief draw of over 130 channels, which includes NFL game broadcasts and related talk shows. XM has about 160 channels and counts talk-show and entertainment titan Oprah Winfrey among its celebrities. XM claims 7.6 million subscribers, and Sirius 6 million.
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By SETH SUTEL  NEW YORK - Satellite radio rivals XM and Sirius have every intention of merging, but not just yet.  Until they clear serious regulatory hurdles, Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc.
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Sirius Satellite Radio  plans  to buy larger U.S. rival XM  for $4.6 billion in stock  to bring entertainers such as Oprah Winfrey and shock-jock  Howard Stern under one roof, but a top regulator said the deal  would face a tough time winning approval.
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Early holiday wishes. Sirius Satellite Radio (nasdaq: SIRI - news - people ) is looking to unwrap its blockbuster gift a year ahead of schedule.
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Executives of satellite radio rivals Sirius Satellite Radio Inc.  and XM Satellite Radio Holdings Inc.  have been meeting lately to discuss the possibility of a merger, the New York Post reported on Wednesday, citing several sources close to the matter.