Wednesday, August 16, 2006

Talk Persists About XM, Sirius Merger

August 16, 2006

Never say never...but if merger talks were to occur (according to comments made previously by Mel Karmazin), XM would probably have to initiate.

Talk persists about merging XM, Sirius
By Paul BondWed Aug 16, 2:07 AM ET

Pull up the six-month performance of companies making up the Hollywood Reporter/Bloomberg 50 Entertainment Stock Index and a tiny pattern emerges: Dead last is XM Satellite Radio, and third from last is Sirius Satellite Radio.
It wasn't supposed to be like this. When Howard Stern said in October 2004 that he would join Sirius, shares rose 50 percent over the next six weeks. When Mel Karmazin became CEO that November, his compensation package gave him options on 30 million shares. Still, he considered shares so cheap he told Wall Street, "You should assume that within the next day I will be personally buying more stock in Sirius." read more: HERE

8/16/2006 01:27:00 PM

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