Sirius Radio and XM agree to merge in $13 billion deal - Techwatch: Satellite TV forums, FTA, Cable, Hardware, & Tech forums

Analoguesat · 19-02-07, 10:47 PM

The two main US satellite radio providers, Sirius Satellite Radio and XM Satellite Radio today said they would merge in a stock-for-stock deal, a move that has been long expected in the young industry. XM and Sirius said they would combine to create a company with an enterprise value of $13 billion, including $1.6 billion in net debt. Under the terms of the deal, XM stockholders will get 4.6 shares in Sirius.

Veteran media executive Mel Karmazin, currently Sirius CEO, will be CEO of the combined company, and Gary Parsons, now chairman of XM, will hold the same position in the new company. The deal will need regulatory approval.

(Source: Reuters via Media Network)

BGonaSTICK · 20-02-07, 12:45 AM

That's a huge unification deal, and may well have a knock-on effect on the European market (either directly, or in terms of technical standards).

My car radio came from the States with satellite compatability, so I have my fingers crossed

19-02-07, 10:47 PM	#1 (permalink)
Analoguesat satellite expert Join Date: Jan 2006 Location: Scottish Borders Posts: 8,297 Thanks: 10 Thanked 269 Times in 241 Posts	Sirius Radio and XM agree to merge in $13 billion deal The two main US satellite radio providers, Sirius Satellite Radio and XM Satellite Radio today said they would merge in a stock-for-stock deal, a move that has been long expected in the young industry. XM and Sirius said they would combine to create a company with an enterprise value of $13 billion, including $1.6 billion in net debt. Under the terms of the deal, XM stockholders will get 4.6 shares in Sirius. Veteran media executive Mel Karmazin, currently Sirius CEO, will be CEO of the combined company, and Gary Parsons, now chairman of XM, will hold the same position in the new company. The deal will need regulatory approval. (Source: Reuters via Media Network) __________________ To all the cable boys - do not post: keys of any sort firmware for receivers links to sites carrying files, keys or fixes Read the rules before you post - click here to read them

20-02-07, 12:45 AM	#2 (permalink)
BGonaSTICK Super Murderator Join Date: Nov 2005 Location: Brighton Posts: 10,632 Thanks: 3 Thanked 64 Times in 37 Posts	Re: Sirius Radio and XM agree to merge in $13 billion deal That's a huge unification deal, and may well have a knock-on effect on the European market (either directly, or in terms of technical standards). My car radio came from the States with satellite compatability, so I have my fingers crossed __________________ Dreambox 7000, Skystar2 PCI, Skystar USB, Fibo 90cm on Moteck SG2100, Triax TD110 multi-LNB. Sky + ART cards. 45.0°E - 58.0°W


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