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- Sirius and XM are the only satellite radio services available in the U.S.
- Shares for both companies rose sharply after the Department of Justice approved merger in March 2008
- Companies agreed to settle $19.7 million in outstanding FCC fines, in order to clear the dealChicago Tribune: Sirius, XM will pay fines to clear deal (July 25, 2008)
- Combined operations will equal 17.3 million subscribersThe Motley Fool: Can Sirius Save XM? (February 28, 2008)
- Mel Karmazin will retain position as the CEO
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Over a year and a half following the original merger announcement, Sirius and XM Satellite Radio completed their channel integration on November 12, 2008. XM users were introduced to 22 new channels, originally provided only to Sirius users, while Sirius introduced 11 new channels to their users. While the two companies remain independently ran, depending on a users choice of service, they now offer the same radio content and are both owned and operated by Sirius.
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Criticism and Response
Critics across the political spectrum had criticized the proposed merger, saying that it could hinder commercial competition, grant fewer options to consumers and compromise the functionality of existing technology.MediaWeek: Senators Oppose XM, Sirius Merger (July 1, 2008) Sirius has insisted, however, that all existing devices will work with any new services offered, and that better choices in programming will be available for less money.Official Site: SIRIUSmerger.comHistory
- February 19, 2007: XM Satellite Radio agrees to be purchased by Sirius Satellite Radio in a merger that would be worth over $4 billion.
- March 24, 2008: The U.S. Department of Justice approves the merger after concluding it would not significantly restrict competition and therefore would not harm consumers.Department of Justice: Statement on XM/Sirius Merger (March 24, 2008)
- July 24, 2008, Sirius and XM agree to pay a combined $19.7 million for FCC violations accrued by both companies.Chicago Tribune: Sirius, XM will pay fines to clear deal (July 25, 2008)
- July 25, 2008: The FCC, which had criticized the deal along with consumer groups and the terrestrial radio industry, approves the merger.
- November 12, 2008: Sirius and XM officially merge channels
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Sirius XM Merger on Amazon
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SIRIUS XM Radio and Liberty Media reach agreement for investment.(MERGERS AND ACQUISITIONS): An article from: Wireless Satellite and Broadcasting Newsletter - $9.95
This digital document is an article from Wireless Satellite and Broadcasting Newsletter, published by Information Gatekeepers, Inc. on February 1, 2009. The length of the article i...Amazon
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Merger of Sirius and XM redraws the radio landscape.(News & Analysis): An article from: Los Angeles Business Journal - $9.95
This digital document is an article from Los Angeles Business Journal, published by Thomson Gale on February 26, 2007. The length of the article is 561 words. The page length shown...Amazon
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Sirius XM Merger Questions
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When will Sirius/XM have an iPhone app? 1 AnswerSirius XM Came out with their iPhone application on June 18th, 2009. You can read all about it at http://www.siriusxm.com/oniphone. read more -
If Sirius XM goes out of business, will the actual radio I bought be worthless? 4 AnswersAlthough "Sirius XM" may disappear, it is more likely the company will be absorbed or changed. The technology is too valuable for it not to be used--remember th... read more -
If Sirius XM radio goes bankrupt does it go off the air? ie should I renew my subscription or go somewhere else? 2 AnswersIf Sirius-XM goes bankrupt, there is no certainty they will go off the air. All that bankruptcy means is that they are restructuring their debt because they cou... read more
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