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Sirius buys XM in satellite radio merger
The U.S.s two satellite radio operators, Sirius Satellite Radio 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 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 companys CEO, with Gary Parsons, currently XMs 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 networks chief draw of more than 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 mil |
#2
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Its about damn time! That merger has been in the making for a long time now.
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#3
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That`s an old article. Obviously the end of 2007 has come and gone. And no, Sirius has not bought XM. I am a XM stockholder and have been waiting on this deal for a long time. The DOJ said on 3/24 that they would not block the merger. But, the FCC has not acted yet on the deal. So, it`s not done yet.
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#4
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This has been one of the most long drawn out mergers in history. The foot dragging by the feds has been unprecidented. This merger had been fought tooth & nail by the NAB (a radio industry group). They are deathly afraid of Satellite radio. I have a Sirius in both of my cars and I love It. After the merger it will only get better. If the FCC shoots this merger down it will no doubt be the end of one of these companies (probably XM) So I hope this merger is allowed to go through. FCC aproval is the last hurdle.
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#5
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Update:
http://www.latimes.com/business/prin...,5634039.story Hopefully this goes through in the next week or so. Sirius is the one bill that I really do not mind paying at all. I couldnt be happier with their product, and I cant wait to see the growth and changes that happen once this merger is done. I really think that the content they will be able to offer will be some of the best stuff out there. RIP terrestrial radio! |
#6
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More than likely it'll go through without any big problems. They have ample competition from HD radio, portable music devices, etc. Now we can get Howard Stern on XM too!
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#7
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I'll NEVER pay for Sirius or XM radio. Since 1913 as G. Marconi said "The airwaves are free!" Won't pay for satillite TV either, or broadcast TV(if the major networks get thier way). Pirate TV will spring-up like Pirate Radio has in places...broadcasting what people WANT to see and hear, not what the advertisers want you to.
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#8
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I pay for Sirius because it has what I want, mostly commercial free and uncensored. To me, $13.00 a month is more than worth it to not to have to listen to the garbage on free radio which is interrupted by 10 minutes of commercials every 5 or 10 minutes. The programming and selection is second to none, plus I get to listen to any out of market football game that I want to, which comes in handy for me seeing as my favorite team gets next to zero TV time here. The other plus is when I travel, there is no more searching the dial for something to listen to. I said I would never pay for satellite radio when it first came out until Howard went over and then I spent a few days with it, at that point I was sold. I havent listened to anything on regular radio since I got it.
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#9
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Of what I've heard on it, I wouldn't have it if it was free. Howard Stern should have his toungue cut-out for his language and his pandering in public. Pay Radio: No classical, no "classic rock and rock" no "classic country"...what's the point? I've got Mozart, Pink Floyd, Willie Nelson, Alan Parson's Project, Bach CD's, and a couple of "my mix" cassettes in the truck. No radio station does that..oh I forgot, an Enya CD too. "Classify" my musical tastes.
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#10
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There are 11 classic rock stations on Sirius and 3 classical channels along with 2 classic country stations.
http://www.sirius.com/whatsonsirius |
#11
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I like the benefit of satellite radio in general, but regular broadcast radio provides concert information, more ticket giveaways and other useful perks that I like as well
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#12
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Quote:
I have Sirius & I love it they have just about any kind of music you could possibly want with no commercials ,plus NFL football (all the games) Soon we will have major league baseball (if the merger goes through) plus Nascar channel. Broadcast radio is free, you get what you pay for. I consider Sirius a bargain. |
#13
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Well said. I think Stern makes radio what it is today. He pushes the boundaries. Sometimes I like what he says, sometimes he gets a little carried away, but nonetheless I do find him very entertaining.
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#14
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I hope the merger goes through, as long as Sirius doesn't change to an XM like setup. I've got Sirius in both my dailies and love it, but I spent almost 5 hours listening to XM on a plane to Indianapolis and back and really didn't care for their programming. BUT, more channels would be a good thing
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#15
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The merger was finally approved, Now we will see how they will merge the programing. Other than the major league baseball, I don't see why they wouldn't just dump the XM programing & go with the Sirius line up.
Sirius is really in the drivers seat anyway. Had the merger not taken place, XM was doomed and on it's way out. |
#16
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They will offer a "best of" selection soon for either of the services, it will cost an extra $4 a month. Eventualy they will completely merge, and I agree, the XM stuff will be first to go, Sirius' programming is alot better to begin with, plus Mel Carmasen (SP?) is the top dog for Sirius XM and was the one that got Sirius to where it is, so "his" talent will most likely stay. What I am rally waiting for is the a la carte package to be available, it will be half the price, and theres alot on that I dont listen to. I could get by with 20 or 25 channels.
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#17
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I'll never do satilite radio or dish or cell phones, because I still agree with Isadore Marconi in 1912 "The airwaves are free!" and he gave away all his patent rights to "wireless". Plus, I really don't want/need any of them. I sent off for my DTV converter box coupon, but with what's on broadcast TV anymore, I'm not quite sure why...
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#18
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Quote:
As for me, I love my satellite radio, dont have to listen to 15 minutes of commercials in a row just to wait for 2 or 3 songs to play. I also dont have to listen to a barrage of bleeps and other various edit noises. I spend a ton of time on the road for work, so the $20 a month I pay for 2 Sirius subscriptions (gotta keep my old lady happy too) is well worth it. |
#19
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SIRI stock is now a whopping .60 cents!!
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