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Monday, February 19, 2007 12:14:17 PM
SIRI, XMSR news and charts:
XMSR and SIRI possible merger news!!! XM Satellite Radio Holdings Inc. (XMSR) and rival Sirius Satellite Radio Inc. (SIRI) are expected to announce their long-awaited merger Monday, the New York Post reported in its online edition, citing a source familiar with the deal.
The two sides were locked in negotiations over the weekend trying to hammer out a final agreement, the newspaper reported, citing the same, unnamed source.
Talks were still going on and the deal could fall apart at any time, the New York Post said.
With antitrust issues of paramount importance, the newspaper cited its source as saying lawyers for both companies were working overtime to fine-tune the language of the agreement and frame the discussion around the deal itself and not regulatory concerns.
According to the New York Post's source, XM Chairman Gary Parsons would retain his title in the combined entity, with Sirius' Mel Karmazin likely taking the chief executive role, the newspaper said. It is unclear what role, if any, XM CEO Hugh Panero would play, according to the report.
Washington-based XM ended the third quarter with 7.19 million subscribers, while New York-based Sirius ended with 5.1 million. A merger would join Sirius content, such as Howard Stern, Frank Sinatra and Nascar, with XM's Oprah Winfrey, Bob Dylan and Major League Baseball.
Newspaper Web site: http://www.nypost.com
(END) Dow Jones Newswires
February 19, 2007 09:23 ET (14:23 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc
SIRI 3.70 chart: SIRI 3.70 annotated chart: Check out the RSI and MACD annotations, this is the key to the move imo
XMSR 13.98 chart:
XMSR and SIRI possible merger news!!! XM Satellite Radio Holdings Inc. (XMSR) and rival Sirius Satellite Radio Inc. (SIRI) are expected to announce their long-awaited merger Monday, the New York Post reported in its online edition, citing a source familiar with the deal.
The two sides were locked in negotiations over the weekend trying to hammer out a final agreement, the newspaper reported, citing the same, unnamed source.
Talks were still going on and the deal could fall apart at any time, the New York Post said.
With antitrust issues of paramount importance, the newspaper cited its source as saying lawyers for both companies were working overtime to fine-tune the language of the agreement and frame the discussion around the deal itself and not regulatory concerns.
According to the New York Post's source, XM Chairman Gary Parsons would retain his title in the combined entity, with Sirius' Mel Karmazin likely taking the chief executive role, the newspaper said. It is unclear what role, if any, XM CEO Hugh Panero would play, according to the report.
Washington-based XM ended the third quarter with 7.19 million subscribers, while New York-based Sirius ended with 5.1 million. A merger would join Sirius content, such as Howard Stern, Frank Sinatra and Nascar, with XM's Oprah Winfrey, Bob Dylan and Major League Baseball.
Newspaper Web site: http://www.nypost.com
(END) Dow Jones Newswires
February 19, 2007 09:23 ET (14:23 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc
SIRI 3.70 chart: SIRI 3.70 annotated chart: Check out the RSI and MACD annotations, this is the key to the move imo
XMSR 13.98 chart:
All posts are my opinion only, for a full disclaimer please see this link http://smallurls.net/1508
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