XM Satellite and Sirius complete merger

I’ve heard about this for a while, and then on my way to work this morning Opie & Anthony who work for XM were talking about this (they work at XM while rival Howard Stern works at Sirius and they think they’ll get fired because of it).

From yahoo.com:

XM Satellite and Sirius complete merger
Tue Jul 29, 8:12 AM ET

XM Satellite Radio and Sirius Satellite Radio said Tuesday they have completed their long-pending merger.

The combined company plans to use the name Sirius XM Radio Inc. Its stock will continue to be traded on the Nasdaq under the ticker symbol SIRI. They first announced their deal in March 2007.

XM shareholders will receive 4.6 shares of Sirius common stock for each share of XM.

The combined company reaffirmed its guidance for the deal in a statement. It expects cost savings of about $400 million in 2009 and to post earnings before interest, taxes, depreciation and amortization of more than $300 million. It also plans to achieve positive cash flow, before satellite capital expenditures, in 2009.

The corporate headquarters will be located in New York, and XM Satellite Radio will remain headquartered in Washington, D.C.

The new company said it has 18.5 million subscribers.

Cos
About Cos 5064 Articles
Marcos Cosme has had a love for writing and film since he was little. By combing those two passions, he started studying film early on in Middle School and High School writing screenplays and working in his High School television production studio. When it came time for college he decided to pursue a bachelors in Electronic Film making from Fairleigh Dickinson University. Marcos continues to be an avid watcher of movies and scripted television series, although he does, on occasion, watch some reality shows. He has watched hundreds of movies during the course of his life and has worked in various roles on small independent film projects, including writing, producing and directing. In his spare time Marcos loves to write screenplays, read books, contribute articles, blogs and reviews on various topics including (but obviously not limited to) movies, television, books, and wrestling; just to name a few. He is a Rabbit aficionado (he has a dwarf rabbit named Peanut-who is the logo of Cos' Blog) and is a Golden Retriever connoisseur (he has two Goldens named Cassie and Chloe). He also love to spend time with his wife and as of July of 2015 they welcomed their first child, Miles, who can occasionally be seen on the blog.

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