XM Is Dead, Long Live Sirius XM
XM Is Dead, Long Live Sirius XM
By Rick Aristotle Munarriz July 29, 2008
Sirius Satellite Radio (Nasdaq: SIRI) completed its merger with rival XM Satellite Radio this morning, becoming Sirius XM Radio in the process.
Are investors cheering the news? Not exactly. The freshly blended shares opened 20% lower today, and that is after dropping 16% yesterday.
This clearly isn't the way that the country's two satellite radio providers expected things to go when they announced plans to combine more than 17 months ago. Everyone knew that this was going to be a tough deal to clear in terms of regulatory hurdles. But now that the hookup is complete, why are investors staying away? It could be the reality of the combined savings.
Full story
By Rick Aristotle Munarriz July 29, 2008
Sirius Satellite Radio (Nasdaq: SIRI) completed its merger with rival XM Satellite Radio this morning, becoming Sirius XM Radio in the process.
Are investors cheering the news? Not exactly. The freshly blended shares opened 20% lower today, and that is after dropping 16% yesterday.
This clearly isn't the way that the country's two satellite radio providers expected things to go when they announced plans to combine more than 17 months ago. Everyone knew that this was going to be a tough deal to clear in terms of regulatory hurdles. But now that the hookup is complete, why are investors staying away? It could be the reality of the combined savings.
Full story
posted by Doc at 1:40 PM
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