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Monday February 19, 2007 4:26 pm
Sirius and XM Agree To Merger
XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. have just announced that they have come to an agreement to merge. Monopoly outcries are likely a sure bet, as the deal would result in the consolidation of the two two companies in the subscription-only satellite radio business, so we can expect federal regulators to be looking at this deal under the microscope long and hard before it’s hopeful approval. The companies have also announced that Mel Karmazin, Sirius CEO, would become CEO of the newly formed company, while Gary Parson, XM chairman, would remain in the same position.
[Thanks, Veronica!]
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