Xm and Sirius Merger - a Benefit to Consumers
The two United States satellite radio service providers, XM and Sirius, have declared that they will be merging, which is good news for consumers. XM Satellite Radio and Sirius Satellite Radio are combining into one business entity, which will merge all stocks and assets. The tax-free merger will unite the net worth of both companies, which will total $13 billion minus about $1.6 billion of debt.
The combined number of subscribers for both XM and Sirius satellite radio services totals about 14 million, and the added number of subscribers in the merged company should be an advantage to consumers. Both XM and Sirius say that subscribers will have the ability to choose which channels they want and which they don't with the new satellite radio service, rather than having to subscribe to all the channels at once. This will give consumers the ability to pay for the satellite radio channels they want, and forego the satellite radio channels they don't really need.
"We are excited for the many opportunities that an XM and SIRIUS combination will provide consumers," said Gary Parsons and Hugh Panero in a joint statement. Parsons is Chairman of XM Satellite Radio and Hugh Panero is CEO of XM Satellite Radio.
"This combination is the next logical step in the evolution of audio entertainment," said Mel Karmazin, CEO of Sirius Satellite Radio.
The new satellite radio company will be headed up by the current Chief Executive Officer of Sirius, Mel Karmazin. Hugh Panero, the Chief Executive Officer of XM, will continue with his current duties until the close of the merger. The Chairman of the new satellite radio company will be Gary Parsons, current Chairman of XM. Both Karmazin and Parsons will sit on the new company's board of directors. The two will be joined by ten other business people, including representatives from GM and American Honda, and eight other independent members.
Both XM Satellite Radio and Sirius Satellite Radio will continue to be separate corporate entities until the end of the business transaction. The two companies must work together to figure out the name of the new merged business, as well as the location for the new corporate headquarters.
People who hold XM stock will get an exchange of 4.6 shares of Sirius stock in the merger for each share of XM stock. All shareholders of both XM and Sirius will now own about half of the merged corporation.
The XM and Sirius satellite radio merger will not be complete until it is approved by both company's shareholders. The satellite radio services must also go through a regulatory review, and the merger must be approved by the Federal Communications Commission. XM Satellite Radio and Sirius Satellite Radio say the merger should go through by the end of 2007.
For more resources about Satellite Radio or about Sirius and especially about XM please review these links.
Related Tags: sirius, satellite radio, xm
For more resources about Satellite Radio or about Sirius and especially about XM please review these links.Your Article Search Directory : Find in Articles
Recent articles in this category:
- The No. 1 Rule For Projecting Confidence - Speak With Authority
One of the most important characteristics a person can project in a business setting - or any situat
- After the Autumn Checkout European Debt Crisis and U.S. Brewing Rebound
In the commotion caused by the Fed on interest rates come to an end, the "disastrous" for the euro a
- Advantages Of Arcade Game Rentals
There are many different advantages to arcade game rentals. Most people need something to release th
- A General Primer on Truck Cargo Nets
In modern highways it is quite rare to see truck cargo nets in action, this is because they are usua
- The United States Will Burst More Severe Financial Crisis
Not long ago, suddenly announced that the central bank to raise interest rates, the interest rate hi
- Niche Marketing Profits - 3 Easy Steps to Finding a Profitable Niche Market Income in 10 Minutes
Like most beginners I was having a very difficult time trying to find a niche market to earn extra m
- The Importance of Hospitality Management Consulting Firms Toronto
Businesses and the managers that help guide any business are in a constant state of improvement and
- New Keynesian Theory Label
2010 winner of the Nobel Prize in Economics three theories have been labeled as "New Keynesian" labe
- Federal Reserve Pouring Money QE2 Unpredictable Fortune
U.S. economist Milton Friedman proposed a "throw the cash from a helicopter" view, while the practic
- Fiscal Consolidation Should no Longer Delay
British Chancellor of the Exchequer George Osborne today announced fiscal consolidation policy, shoc
Most viewed articles in this category:
- Common Financial Problems to Avoid
One must first change their habits and not procrastinate. American Consultants Inc at offers key fi
- How a Bad Hire Can Hurt Your Business
What's worse - hiring the wrong person or not hiring anyone at all? Companies can become almost des
- Joel Comm Is Dr. Adsense
What is Adsense? If you are new to making money online and net marketing, you may not know what Ads
- 5 Steps For A Dynamic Wealth System Online
Recipe: Opportunity + knowledge + Dynamic Wealth System + Your Action = Massive Success!!! Step 1
- How To Stop Foreclosure
Losing your house to a foreclosure can be very scary. There are times when circumstances are ou
- How to Always Pitch A Strike
As business owners, we are always working on new ways to convince people to become customers, client
- Membrane Diffuser Solutions for Wastewater Treatment Systems
In the aeration basin of a typical wastewater treatment plant there are both organic and inorganic m
- Another Year Hating Your Job or Loving Life?
Copyright © 2007 Mary Foley I've come to the conclusion that to be successful - really successf
- Dyestuff Industry In India And China
World demand for dyes and organic pigments to touch $10.6 billion in 2008According to a study on dye
- Cma-cgm Case : the Series of Lawsuits Continues in Syria, Lebanon, Egypt, France, England and the United States
Damietta company case : The series of lawsuits continues in Syria, Lebanon, Egypt, France, England a