Wednesday, January 10, 2007

CNN: Sirius-XM Merger Makes Sense

Sirius-XM merger makes sense
Sirius CEO Mel Karmazin reiterates that consolidation in the satellite radio industry could happen, defends Howard Stern bonus.
By Paul R. La Monica, CNNMoney.com editor at large, January 10 2007: 4:21 PM EST

NEW YORK (CNNMoney.com) -- The chief executive officer of Sirius Satellite Radio told investors Wednesday that he would be open to a combination with his company's top rival, XM Satellite Radio.
Mel Karmazin, speaking at Citigroup's annual entertainment, media and telecommunications conference in Las Vegas said that a merger between Sirius (Charts) and XM (Charts) could be in the best interests of both companies.
"One way you can create shareholder value is through consolidation, particularly in a fragmented industry like radio," he said. "Conceptually a deal makes sense and you could add value from synergies." ...read more: here