XM and Sirius Merger - A Benefit to Consumers
the 2 usa satellite radio merchants, XM and Sirius, have declared that they are going to be merging, that is excellent news for consumers. XM Satellite Radio and Sirius Satellite Radio are combining into at least one business entity Tiffany and Co jean schlumberger lynn bracelet silver jewelry, in order to merge all stocks and assets. The tax-free merger will unite the networth of both companies, in order to total $thirteenbillion minus about $1.6 billion of debt.
the brushined selection of subscribers for both XM and Sirius satellite radio facilitiestotals about 14 million Tiffany and Co Elsa Peretti Sirius Star Drop earrings jewelry, and the added selection of subscribers within the merged company need to be a bonus to consumers. Both XM and Sirius say that subscribers shall be able to make a selectionwhich channels they would like and which they don’t with the brand new satellite radio service, as opposed to having to sign up for all of the channels without delay. this couldgive consumers the power to pay for the satellite radio channels they would like, and forego the satellite radio channels they don’t actually need.
“we're excited for the numerous possibilitiesn XM and SIRIUS combination will offerconsumers,” said Gary Parsons and Hugh Panero in a joint statement. Parsons is Chairman of XM Satellite Radio and Hugh Panero is CEO of XM Satellite Radio.
“this combineis the following logical step within the evolution of audio entertainment Tiffany and Co elsa peretti color by the yard necklace silver jewelry,” said Mel Karmazin, CEO of Sirius Satellite Radio.
the brand new satellite radio company shall be headed up by the present Chief Executive Officer of Sirius, Mel Karmazin. Hugh Panero, the executive Executive Officer of XM, will continue together with his curhireduties until the close of the merger. The Chairman of the brand new satellite radio company shall be Gary Parsons, curhireChairman of XM. Both Karmazin and dadrsons will sit at the brand new company’s board of directors. the 2 shall be joined by ten other business people, including representatives from GM and American Honda, and 8 other independent members.
Both XM Satellite Radio and Sirius Satellite Radio will remain separate corporate entities until the top of the business transaction. the 2 companies need tointeract to figure outthe name of the brand new merged business Tiffany and Co round link bracelet medium silver jewelry, in addition to the site for the brand new corporate headquarters.
individuals who hold XM stock gets an examendmentof four.6 shares of Sirius stock within the merger for eachpercentageof XM stock. All shareholders of both XM and Sirius will now own about partof the merged corporation.
The XM and Sirius satellite radio merger may not be complete until this is approved by both company’s shareholders. The satellite radio facilitiesshould also undergo a regulatory review, and the merger need to be approved by the Federal Communications Commission. XM Satellite Radio and Sirius Satellite Radio say the merger should undergo by the top of two007.
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