Sirius Satellite Radio acquiring XM Satellite Radio
February 20th, 2007 Leave a comment Visited 29 times, 1 so far today
Sirius Satellite Radio acquiring XM Satellite Radio
Sirius Satellite Radio has announced their plans to acquire rival XM Satellite Radio. The deal could be worth around $4.6 billion in stock.
This would further bring entertainers such as Oprah Winfrey and shock-jock Howard Stern under one roof. However, analysts believe that the deal could face massive protests from the regulatory bodies.
The deal being planned by the two companies would see XM shareholders receiving 4.6 Sirius shares for each XM share held.
U.S. Federal Communications Commission Chairman Kevin Martin said in a statement that they would be reviewing the outcome of such a deal. He further said that the two companies would have to prove that the deal would be beneficial for the end customer.
XM and Sirius have said that the consumers would benefit as they can together offer improved services at flexible prices.
XM Chairman Gary Parsons said in a statement: “We are confident we will get this through the regulatory arena by the end of this year. Over a decade ago when the first satellite licenses first came out, there were no iPods, there was no HD radio, there were no streaming music on cell phones.”
|
TechWhack on Facebook
|
Today's Popular Posts
- T-Mobile G2 might go on sale for USD 200 with contract! (2 views)
- Apple offering USD 30 iTunes credit for iPhone 3G S activation delays (2 views)
- Audi Q5 now in India (2 views)
- LG-KU580: LG to launch Google compatible phones in Europe (2 views)
- Verizon Hub VoIP based home phone launched (2 views)
- Chevrolet Tavera helps General Motors do well in India (2 views)
- Movielink and CinemaNow to expand movie offerings (2 views)
- DaimlerChrysler India launches latest Mercedes-Benz E-Class (2 views)
- BBC iPlayer now works on several portable media players (2 views)
- Hyundai i10 launched in India (2 views)
Apple Apple Apple iPhone Apple iPhone 3G AT&T automobiles Automotive News Business News Cars Data Storage - Hard Disks - Flash Memory Digital Media Digital Music - Players Google Google Android Hardware Hardware News India Internet Laptops Main News Market Research Market Rumors Microsoft Mobile Devices mobile Services Networks News Nokia notebooks Online Advertisement Personalities Processor News Rumors Search Search Engine Search Engine News smartphones Software News Space, NASA, ISRO News Telephony USA Web Services Wireless-Mobile Yahoo YouTube