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Untitled Document

Sirius, XM to walk down the isle

Published: Monday, February 19, 2007

Sirius boss Mel Karmazin will finally get his wish now that his company will merge with XM. However not only will there be a massive redundancy ,but a public war will break out between Karmazin who will be CEO and Gary Parsons who will be chairman of the combined company. We predict without a doubt, that Parsons will be pushed out, our leave a few months to a year after a merger happens if it does. we say this because we heard Karmazin rides dirty sometimes. But wait didn't the FCC put the kibosh on this?

XM and Sirius said they would combine to create a company with an enterprise value of $13 billion, including $1.6 billion in net debt.Under the terms of the deal, XM stockholders will get 4.6 shares in Sirius.

Sirius Radio to merge with XM [Reuters]
Official Press Release: SIRIUS and XM to Combine in $13 Billion Merger of Equals

Labels: GaryParsons, MelKarmazin, SatelliteRadio, Sirius, XM

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