Printed from http://www.electronista.com

XM Radio: Q1 'last quarter' before Sirius tie-up

updated 11:45 am EDT, Mon May 12, 2008

XM Sees Sirius Merger Soon

XM expects its proposed merger with Sirius to be approved by the summer, the satellite radio provider said today during a conference call discussing its latest quarterly results. President and chief executive Nate Davis now claims that the winter 2008 quarter is XM's last "as a standalone company" and goes so far as to drop its financial guidance for the upcoming quarter, saying the prediction won't apply to a unified company. Recent government steps to greenlight the deal are signs approval is close, according to Davis.

"The Department of Justice effectively cleared our merger with [Sirius]," he says.

Both satellite networks have shown signs they expect their union to be approved, with an indefinite agreement in place that pledges continued support and an frequent meetings between themselves and interested parties with the Federal Communications Commission, which is the only remaining government body left to approve the deal before it can go ahead.

Such a merger is becoming increasingly necessary for XM, which itself saw an 18 percent jump in its total subscribers but posted a deeper $129.3 million loss in the quarter as discounts to car makers, as well as to short-term subscribers opting for contracts, ate at the company's income per user.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Epson PowerLite Home Cinema 2030 projector

With high-definition televisions now the standard, 4K televisions becoming the next big thing, and plasma TVs going the way of the din ...

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Tesoro Tizona G2N Elite gaming keyboard

The market for gaming keyboards is getting crowded, starting off with some fairly simple keyboards and diverging into the land of modu ...

Sponsor

toggle

Most Commented

 
toggle

Popular News