SIRIUS And XM In $13 Billion Merger Of Equals

Posted: Feb 20 2007, 5:05am CST | by , Updated: Aug 11 2010, 1:02am CDT, in News | Other Stuff

 
SIRIUS and XM in $13 Billion Merger of Equals
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XM Satellite Radio and SIRIUS Satellite Radio announced that they have entered into a definitive agreement, under which the companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $13 billion, which includes net debt of approximately $1.6 billion.

XM Satellite Radio and SIRIUS Satellite Radio today announced that they have entered into a definitive agreement, under which the companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $13 billion, which includes net debt of approximately $1.6 billion.

So far the financials. Now we have one satellite radio service provider in the US. They promise you a broader selection of content and accelerated technological innovation. Apparently you will be able to pick and choose channels from both services. This is great for XM radio customers, who now might be able to pick up the Howard Stern show. More details can be expected from the joint conference call and webcast today, February 20, 2007 at 8:30 AM EST to discuss this announcement. The conference call can be monitored by dialing 800-573-4840 within the U.S. and 617-224-4326 for all other locations, passcode 29490052. The webcast can be accessed at the Sirius site and site.

The combined satellite radio company has currently approximately 14 million subscribers.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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