SIRIUS (SIRI) and XM (XMSR) Compete Merger, Creating SIRIUS XM Radio
Down)
This morning, SIRIUS Satellite Radio (Nasdaq: SIRI) and XM Satellite Radio (Nasdaq: XMSR) announced that they have completed their merger.
The new company plans to change its corporate name to SIRIUS XM Radio Inc. The combined company's stock will continue to be traded on the Nasdaq Global Select Market under the symbol "SIRI."
XM shareholders will receive 4.6 shares of SIRIUS common stock for each share of XM.
The new company has over 18.5 million subscribers, making it the second-largest radio company in the country. It is also the second largest subscription media business in the U.S.
The new company plans to change its corporate name to SIRIUS XM Radio Inc. The combined company's stock will continue to be traded on the Nasdaq Global Select Market under the symbol "SIRI."
XM shareholders will receive 4.6 shares of SIRIUS common stock for each share of XM.
The new company has over 18.5 million subscribers, making it the second-largest radio company in the country. It is also the second largest subscription media business in the U.S.
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