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New York Post says XM and Sirius to Announce Merger

Authored by Scott Goldberg on February 19, 2007 - 12:06pm.
XM-Sirius New York, NY – UPDATE: Merger announcement official  XM Satellite Radio Holdings Inc. and Sirius announced a merger today, as expected according to a New York Post report.  Negotiations for the deal took place over the weekend.  An agreement would still need to pass an antitrust analysis from the Department of Justice, and the FCC would need to waive its clause saying one satellite radio company cannot own the other.  Early predictions indicate that it could take up to 15 months to gain approval.  XM shareholders will get 4.6 shares of Sirius stock for each share of XM stock held.
tags: Radio | Sirius | Satellite | XM | Sattelite Radio |