Talk persists about merging XM, Sirius
Posted August 16, 2006 — in Music News
Sirius shares have sunk from $4.72 to $3.75 on Monday, and XM shares dropped from $34.65 to $11.01 in the same time frame.
Since both shares are dropping the obvious next step is a merger.
“Mel, as CEO of Sirius Satellite Radio, it’s time to make your move on a merger. Right now.”
I think Mel will buy the radio division of CBS before he pulls in XM. CBS Radio does a billion in revenue a year and cash flow hungry Sirius needs it. Plus they could add all of CBS’s terrestrial stations to the satellite dial.
Comment by Jeff — August 16, 2006 @ 9:16 pm
The government will take over…FCC making HDRadio the standard.
It seems as though XM and Sirius did themselves in afetr the novelty of beaming in a radio signal from outer space wears off. Radio does not scream technology, neither did D-VHS(high definition tapes, the kind you put in a VCR..remember those?). The ever changing tastes of America will now require their radio recievers to toast their bread and serve them coffee..or pour a cold one for a drive to the nightclub.
Comment by A2daC — August 17, 2006 @ 7:29 pm