Sirius and XM Satellite Radio Announce Merger |
Sirius Satellite Radio and rival XM Satellite Radio have announced a $13 billion all-stock merger of equals. Press releases on both companies’ Web sites confirm the merger.
The terms of the agreement state that XM shareholders will receive a fixed exchange ratio of 4.6 shares of SIRIUS common stock for each share of XM they own. XM and SIRIUS shareholders will each own approximately 50 percent of the new company.
The merger is expected to provide greater programming and content choices for subscribers as well as accelerated technological innovations. Subscribers will now …




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