This just in:

XM Satellite Radio (NASDAQ: XMSR) and SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that they have entered into a definitive agreement, under which the companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $13 billion, which includes net debt of approximately $1.6 billion.

…

The combination creates a nationwide audio entertainment provider with combined 2006 revenues of approximately $1.5 billion based on analysts’ consensus estimates. Today the companies have approximately 14 million combined subscribers.

Source: XM Radio

What does this mean to all of us satellite radio subscribers? Howard just got a whole lot richer.

Thanks for the tip, Jess!

(1 votes, average: 5.00 out of 5)

 Loading ...

This entry was posted on Monday, February 19th, 2007 at 3:43 pm and is filed under Afternoon squeeze, Interactive, Media, PR. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.