Satellite radio's two rivals have agreed to merge. XM Satellite Radio Holdings and Sirius Satellite Radio announced the plan Monday. The deal will consolidate the only two companies in the emerging business of subscription-only satellite radio. It's sure to face tough scrutiny from federal regulators. A clause in the Federal Communications Commission ruling that gave the satellite radio operators a license said one company cannot own the other one. Investors and analysts have been speculating about a deal for months. The two companies said in a statement that Mel Karmazin, the CEO of Sirius, would become chief executive of the new company while Gary Parsons, the chairman of XM, would remain in that role. The merger will join Howard Stern and NASCAR on Sirius with XM's Oprah Winfrey, Bob Dylan and Major League Baseball.Can you say Monopoly? I knew you could. Satellite Radio, XM, Sirius, Howard Stern, Radio
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"Can you say Monopoly? I knew you could."
True, but they are both in the red and if one died off before the other. There would also be a monopoly. This way less jobs are probably lost, less shareholders get screwed and at the end of the day they should hopefully pull off a profit!
sycho4u | February 22, 2007 10:39 PM | Reply to this comment