Sirius, XM Satellite in Merger Talks

robfest2

http://www.smartmoney.com/bn/smw/index.cfm?story=20070219110623






XM Satellite Radio Holdings Inc. (XMSR) and rival Sirius Satellite Radio Inc. (SIRI) are expected to announce their long-awaited merger Monday, the New York Post reported in its online edition, citing a source familiar with the deal.

The two sides were locked in negotiations over the weekend trying to hammer out a final agreement, the newspaper reported, citing the same, unnamed source.

Talks were still going on and the deal could fall apart at any time, the New York Post said.

With antitrust issues of paramount importance, the newspaper cited its source as saying lawyers for both companies were working overtime to fine-tune the language of the agreement and frame the discussion around the deal itself and not regulatory concerns.

According to the New York Post's source, XM Chairman Gary Parsons would retain his title in the combined entity, with Sirius' Mel Karmazin likely taking the chief executive role, the newspaper said. It is unclear what role, if any, XM CEO Hugh Panero would play, according to the report.

Washington-based XM ended the third quarter with 7.19 million subscribers, while New York-based Sirius ended with 5.1 million. A merger would join Sirius content, such as Howard Stern, Frank Sinatra and Nascar, with XM's Oprah Winfrey, Bob Dylan and Major League Baseball.

Redlegs

I purchased some stock in Sirius last month when it was at it's lowest. I'll be interested to see how this in handled.

Hopefully, if this happens, it goes in to effect soon. I want baseball!

robfest2

Redlegs wrote:

I purchased some stock in Sirius last month when it was at it's lowest. I'll be interested to see how this in handled.

Hopefully, if this happens, it goes in to effect soon. I want baseball!

Do you have Sirius?

Redlegs

robfest2 wrote:

Do you have Sirius?

Yes. Why?

mca47

I have XM, and prefer it...but if the merger gives me more channels plus more sports I'm all for it.
I just hope they don't charge more :(

Redlegs

abcnews.com front page

SATELLITE RADIO PROVIDERS SIRIUS AND XM WILL MERGE, ABC NEWS HAS CONFIRMED. SIRIUS HEAD MEL KARMAZIN WILL RUN THE MERGED COMPANY

robfest2

Redlegs wrote:

Yes. Why?

how do you feel about the merger talks?

mca47 wrote:

I have XM, and prefer it

Why do you prefer XM?

pjl44

ABC News is reporting that it's a done deal.

homeratbat

this is great news for people who have xm and sirius! xm has better systems because they have been around longer while i believe sirius has better channels and is 100% commerical free! will be great to have all the sports together in one place! and thank god mel is running the show he is smart and knows how keep the business successful! i did hear that in time the cost of sirius/xm would to to $18 a month but im hoping they decide against that or i may just treat myself to a life time deal one of these days

mca47

robfest2 wrote:

Why do you prefer XM?

I like the channels better. That and they have MLB.
Don't get me wrong, Sirius is pretty cool too...i just prefer XM.

mammasan

I wonder how this will play out with the Howard Stern/Opie & Anthony rivalry.

homeratbat

mammasan wrote:

I wonder how this will play out with the Howard Stern/Opie & Anthony rivalry.

will be VERY interesting to say the least!

sapperskunk

Nice, I bought some Sirius stock right before Howard left. I'm glad I've been sitting on it all this time.

jeffbr

XM was the first-mover, got the subscriber base, and set the standard. Sirius came in late, made some great moves, and is on a tear adding subscribers and growing much faster than XM. The move could definitely benefit both companies. It could benefit consumers (more options for entertainment), but could also result in higher subscription prices.

I'm a Sirius subscriber for NFL, Stern and English Premier League football (soccer).

moeaholic

i better not have to go out and buy new equipment because of this.