Sirius, XM Want To Make Music Together
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Unprofitable satellite radio providers announce long-rumored merger; regulatory approval still up in the air.
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The much-anticipated merger between Sirius and XM gets the green light. Plus: <a href="http://blog.wired.com/gadgets/2007/02/
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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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Besides the scrutiny of the proposed combination between XM and Sirius, the satellite radio business is facing huge changes.
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The planned merger of US satellite radio groups Sirius and XM creates a larger entertainment player on paper, but Wall Street analysts warned that the deal could hit regulatory snags.
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There's more to satellite radio than meets the ear.
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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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The top executives at the nation's two satellite radio companies detailed pricing plans Monday that they said would let customers choose which channels they want to receive if the two firms are permitted to merge.
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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.
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A motley crew of organizations is backing the merger of XM and Sirius, if only to get some press-release loving.
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Auto maker Toyota on Tuesday entered into separate deals with rival satellite radio service providers Sirius and XM. Under its agreement with Sirius, Toyota will offer Sirius satellite radio service--either
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By A Barton Hinkle  There is something strange about the decision by satellite radio companies XM and Sirius to merge.
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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.
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The FCC is being cut out of the loop (thank God) via Sirius, its management, Howard Stern and the legendary Mel Karmazin. XM Radio is playing a leading role now, but the real noise is being generated by Sirius.
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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 significantly reduced costs.
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XM Satellite Radio Holdings Inc. is raising the ante in its programming battle with rival Sirius Satellite Radio Inc., signing an 11-year programming deal with Major League Baseball that could be worth even
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XM and Sirius are inching closer to being fruitful and multiplying.