Well, it seemed like it was inevitable-- Sirius and XM are announcing a merger today. According to Forbes.com, The two U.S. satellite radio providers announced a merger of equals on President's Day. Under the terms of the agreement, XM shareholders will receive 4.6 shares of Sirius stock for each share of XM they own. XM and SIRIUS shareholders will each own approximately 50% of the combined company. Sirius Chief Executive Mel Karmazin, will become chief executive officer of the new company, while XM Chairman Gary Parsons will be chairman of the merged concern. The companies said that together they will have an enterprise value of $13 billion, including $1.6 billion of long-term debt. So actually Sirius is acquiring XM....we'll see what the world of radio thinks about this. And what about podcasting...who will own that iPod crowd -- will SAT radio be victors?
JCOM CLIENT PORTFOLIO
- Here is a sample of the clients that JCOM/Joyce Schwarz provides marketing, business development and corporate positioning. A more complete list is on the www.joycecom.com website or you can email [email protected] or call Joyce @ 310-822-3119 to get an album of a specific vertical area of expertise including Travel/Tourism, Entertainment, Packaged Goods, Technology, Emerging Tech, Special Events & more.
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February 19, 2007
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