Merger Would End Satellite Radioâs Rivalry
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The planned $13 billion merger of the nationâs two satellite radio services, Sirius and XM, is sure to raise antitrust issues.
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Executives of satellite radio rivals  Sirius Satellite Radio Inc. SIRI.O and XM Satellite Radio  Holdings Inc. XMSR.O 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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District-based XM Satellite Radio Holdings Inc. and New York-based Sirius Satellite Radio Inc., which together control the emerging satellite subscription radio market, today announced that they plan to merge in a $13 billion deal.
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XM and Sirius get hit with a downgrade.
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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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Here's what to expect if the Justice Department and the Federal Communications Commission allow Sirius and XM to merge, creating a monopoly in the satellite radio business:
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Despite major deals, satellite radio still faces an uphill battle against entrenched broadcast giants.
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The FCC's crackdown on broadcast radio is making satellite a tempting alternative.
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The agreed merger between two of the UK&#39;s biggest commercial radio groups, Capital Radio and GWR, signals an era of change in the radio industry.
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The price of satellite radio service has become a sensitive topic in the debate over whether the nation's two space-based radio companies should be allowed to merge, and lawmakers zeroed in on it yesterday.
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By Paul Davidson  To win approval of their blockbuster merger, the nation's two satellite radio companies would accept government-mandated conditions guaranteeing consumers lower prices and more channels, the head of Sirius Satellite Radio told lawmakers Wednesday.
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The Justice Department is evaluating whether the merger of the only two U.S. satellite radio companies would hurt competition.
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The urge to merge within both the  recording and satellite radio industries this week reflects how  tough it is to compete profitably within the evolving digital  media market.
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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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Sirius Satellite Radio Inc.   and XM Satellite Radio Holdings Inc.  expect their  merger to close by the end of 2007, according to presentation  slides for an analysts' conference call on Tuesday.
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The FCC is looking for consultation on whether it should change the rule that currently forbids Sirius and XM from merging, a necessary move if it is to approve the proposed deal.
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Is there a future for satellite radio if the XM/Sirius merger gets rejected?