Sirius plans to buy XM in $4.6 billion stock deal
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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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Sirius Satellite Radio  and XM Satellite Radio  shares jumped on Tuesday after the companies announced a merger plan, although a top regulator said the deal would face a tough review.
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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.
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By Jonathan Sidener, The San Diego Union-Tribune  Feb. 21--The proposed merger of the XM and Sirius satellite radio  networks creates confusion for consumers in the short term. That much is  clear.
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(InfoWorld) - A major Taiwanese maker of satellite radios and components stands to benefit from theÂ proposed mergerÂ between two U.S. companies, Sirius Satellite RadioÂ and XM Satellite Radio Holdings, lifting its stock higher in Taipei on Monday. Wistron Neweb Corp. (WNC), one of many spin-offs from the Acer Group when it reorganized several years ago, could grab new orders for its satellite-related components and gear if the Sirius and XM merger is approved, according to Goldman Sachs (Asia). The company may have to wait for good news, however, as the investment banker sees a long road ahead for regulatory approval of the merger. "We believe it would be a big bonus to WNC in the long-term if the merger of Sirius and XM happens, given that Sirius is likely to take the lead on procurement. However, we believe it may not occur in the near term," Goldman Sachs technology analyst Henry King said in a report Monday. Regulatory approval for the proposed deal, valued at $13 billion, could take until the end of this year, he said. Even if a deal is pushed through, it could take as long as until the second half of 2008 for the companies to consolidate their businesses and start ordering gear from a single supplier. Currently, WNC competes with several Taiwanese and South Korean rivals. WNC has long supplied Sirius with satellite radios, and the U.S. company's success has helped boost WNC's shares on the Taiwan Stock Exchange. News of the merger sent WNC shares up NT$2.70, or 3.1 percent, to NT$91.10 (US$2.75) on the TSE Monday, the first day trading resumed after the long Lunar New Year holiday. The main index of the exchange, the TAIEX, rose 1.2 percent on the day. Many Taiwanese factories fill orders for U.S. companies, and often benefit when certain products become popular. For example, Inventec Appliances, which makes some iPod models for Apple, saw its share price rise 30 percent on the day of its initial public offering a year and a half ago because of the popularity of the digital music player and hopes it would continue to gain followers. It was the biggest one-day rise for an initial offering in the market's history. Sirius and XM claim total subscribers of around 13.6 million, 6 million for Sirius and 7.6 million for XM. Â
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Washington&#39;s XM Satellite Radio Holdings Inc. plans to announce a deal worth as much as $650 million with Major League Baseball today that will enable the company to carry most regular and
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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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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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Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. pledged on Tuesday to work with regulators to close their proposed $4.9 billion merger by year's end, seeking to calm concerns that U.S. antitrust authorities would block the deal.
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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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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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By Seth Sutel  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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Sirius and XM committed to offer a la carte programming options, hoping to curry favor with regulators as its proposed $13 billion merger comes under increasing scrutiny.
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Sirius Satellite Radio Inc.'s  chief executive will defend the company's plan to purchase XM Satellite Radio Holdings Inc.  at a House telecommunications panel hearing on Wednesday.
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XM Satellite Radio Holdings Inc. , which has agreed to be acquired by rival Sirius Satellite Radio , posted a narrower quarterly loss as it trimmed costs, sending shares up 3 percent on Monday.
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Rivals XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. on Tuesday traded hits in the intensifying race for new subscribers, separately announcing distribution deals with Toyota Motor Corp.
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Sirius Satellite Radio Inc. and XM  Satellite Radio Holdings Inc. said on Monday they would offer a  subscription package priced 46 percent below current levels,  and would also let customers buy packages of their favorite  channels, after their proposed merger.