XM, Sirius to merge

[Chuck Nessa]

Shoot the fuckers down.

All of a sudden I want to exercise my right to bear arms and have a missle aimed at the sky.

Edited March 25, 2008 by Chuck Nessa

[GA Russell]

Boy these guys really do live in a dream world. I think the very best any current subscriber might hope for is no cost increase. I'm guessing just about the first thing the newly minted SXM will attempt to do is justify higher price points based on expanded programming. Just wait and see.

I agree 100%, Dave.

[randyhersom]

I carefully hope that this is good for me personally. My 07 Hyundai Elantra came with XM preinstalled. Sirius would have been my choice, first for World Series of Poker coverage, and also NASCAR. Hopefully we get all the programming. I called in to cancel my XM a couple days ago before it went from an introductory rate to 12.99/mo. They gave me three more free months, and I've decided to pay full price for one more month after that as my wife and I are taking a long driving trip together, and she enjoys XM. If the programming comes through, I might add a second radio instead of cancelling.

Edited March 28, 2008 by randyhersom

[Ed S]

I've had Sirius for a couple of years now. Overall, I'm happy with the product. I still listen to local radio, but Sirius is probably 60-70% of my radio listening. I do listen to Stern, Scott Ferrall, some of the talk radio stuff and their music channels of all types. Sirius really pissed me off this past summer when they dropped one of their jazz offerings. They used to have Real Jazz, some smooth jazz offering called Jazz Cafe (I think) and another channel called Planet Jazz. On PJ, you could hear more modern jazz artists like Scofield, Metheny, MMW, Brazilian stuff, fusion, modern mainstream artists. Last summer, they did some shuffling around and dumped Planet Jazz. When I wrote to complain, they told me I could still hear plenty of great modern jazz on their smooth station and their new age station.

As far as I've read, Sirius has guaranteed that customers will not lose any of their current programming as a result of the merger. BUT - XM radios can't receive Sirius signals and vice versa. So to get all of what Sirius and XM offer, one will have to wait for new radios that can receive both - and I've read that could be a year or so away.

I also read, though - that there might be some simulcasting or crossover broadcasting of select stations - but they have not said who/what will be simulcast. Also, there will be several a la carte package offerings at a reduced rate. Again, the lineups have not been announced

Edited March 28, 2008 by Ed Swinnich

[GA Russell]

The FCC approved the XM-Sirius merger today.

http://www.foxbusiness.com/story/markets/i...ology/xmsirius/

[vajerzy]

I have XM- mainly for MLB and ACC sports- I would like NFL football telecasts.

[catesta]

It only took a year and a half.

Fuckin' FCC.

The email news release from Sirius....

SIRIUS AND XM COMPLETE MERGER

SIRIUS XM Radio Chosen as New Corporate Name

Combined Company Has Over 18.5 Million Subscribers, Annualized Second Quarter Revenue Exceeding $2.4 Billion

Company to Offer Consumers Best of Both Services, While Maximizing Significant Efficiencies

SIRIUS XM Reiterates Financial Guidance;

Expects 2009 Synergies of $400 million and 2009 Adjusted EBITDA of over $300 Million

NEW YORK, NY – July 29, 2008 –SIRIUS Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio today announced that they have completed their merger, resulting in the nation’s premier radio company. The new company plans to change its corporate name to Sirius XM Radio Inc. The combined company’s stock will continue to be traded on the Nasdaq Global Select Market under the symbol “SIRI”.

SIRIUS XM Radio begins day one with over 18.5 million subscribers, making it the second-largest radio company, based upon revenue, in the country; and, based upon subscribers, the second largest subscription media business in the U.S. With under 10% penetration of the home and car market, the opportunity for continued growth is significant.

“I am delighted to announce the completion of this exciting merger between SIRIUS and XM,” said Mel Karmazin, CEO of SIRIUS XM Radio. “We have worked diligently to close this transaction and we look forward to integrating our best-in-class management teams and operations so we can begin delivering on our promise of more choices and lower prices for subscribers.”

“Every one of our constituencies is a winner. Combined, SIRIUS XM Radio will deliver superior value to our shareholders. By offering more compelling packages and the best content in audio entertainment, we are well positioned for increased subscriber growth. Our laser focus on subscribers will continue and listeners can be assured that there will be no disruption in service. We also believe that the completion of the merger will eliminate any confusion that has been lingering in the marketplace,” added Karmazin.

XM shareholders will receive 4.6 shares of SIRIUS common stock for each share of XM.

Competitive New Options for Consumers

SIRIUS XM Radio broadcasts more than 300 channels of programming, including exclusive radio offerings from Howard Stern, Oprah, Opie & Anthony and Martha Stewart, among others. SIRIUS XM Radio will offer these expanded options to consumers through arrangements with the world’s leading automakers and its relationships with nationwide retailers.

As a result of the merger, SIRIUS XM Radio will also be able to offer consumers new packages in audio entertainment, including the first-ever a la carte programming option in subscription media. In addition to two a la carte options, the new packages will include: “Best of Both,” giving subscribers the option to access certain programming from the other network; discounted Family Friendly packages; and tailored packages including “Mostly Music” and “News, Talk and Sports.” The first of the new packages will be available in the early Fall.

“One of the most exciting benefits of this transaction is the ability to offer subscribers the option of expanding their subscriptions to include the Best of Both services. Given the respective popularity of exclusive programming on both SIRIUS and XM, we expect many subscribers will upgrade their current subscription,” said Karmazin.

“The upside potential for both consumers and shareholders is huge. Consumers have the ease of adding premier programming without purchasing a new device. For shareholders, this kind of organic growth is a key part of the company’s future and the success we expect to see,” said Karmazin.

As promised when the merger was first announced, existing radios will continue to work and every subscriber has the option of maintaining their current service package.

Benefits for Shareholders Begin Immediately, Integration Already Under Way

SIRIUS XM Radio expects to begin realizing the synergies expected from this transaction immediately.

“In addition to realizing significant potential revenue growth, the management team will move quickly to capitalize on the synergies that many analysts have predicted for this combination. We expect to begin achieving those synergies without sacrificing any of the world-class programming and marketing we are known for,” said Karmazin.

The company today also reiterated guidance for the combined SIRIUS XM Radio. Based upon a preliminary analysis, the combined company expects to realize total synergies, net of the costs to achieve such synergies, of approximately $400 million in 2009; to post adjusted EBITDA exceeding $300 million in 2009; and to achieve positive free cash flow, before satellite capital expenditures, for the full year 2009. The company also expects that both synergies and adjusted EBITDA will continue growing beyond 2009.

“We have all the tools necessary to begin executing as a combined company with high aspirations for subscriber growth and greater financial performance in part from the significant synergies that we begin realizing literally today – on Day One. We are moving quickly to integrate the operations,” said Karmazin.

The corporate headquarters will be located in New York, NY and XM Satellite Radio, the company’s wholly-owned subsidiary, will remain headquartered in Washington, DC.

Effective after the close of the market yesterday, trading in XMSR common stock on the Nasdaq Global Select Market ceased.

###

[Christiern]

When we flush the Bush garbage down the drain at the end of the year, I assume the FCC commissioners he appointed will go with the rest of his crap. I hope so. In destroying our country, these crooks seem not to have left a single stone unturned. So, either Obama will face a near-impossible cleanup task or the old man will wallow in it and make it worse--if that's possible.

[ghost of miles]

Via the Jazz Programmer Listserv: evidently some rumblings that the merger is not going to be a boon for jazz programming choices. So far, only this confirmation:

I'll get more in detail when I can but as of now I can tell you all that my last day (and by all accounts the last day for my modern jazz channel Beyond Jazz) will be November 5th.

It looks like the smooth jazz and straight ahead channels will stay intact.

More info to follow...

Russ Davis

VOA/acme satellite radio

[randissimo]

Pandora has become my favorite internet radio service.

[catesta]

Via the Jazz Programmer Listserv: evidently some rumblings that the merger is not going to be a boon for jazz programming choices. So far, only this confirmation:

I'll get more in detail when I can but as of now I can tell you all that my last day (and by all accounts the last day for my modern jazz channel Beyond Jazz) will be November 5th.

It looks like the smooth jazz and straight ahead channels will stay intact.

More info to follow...

Russ Davis

VOA/acme satellite radio

I think this was all expected.

Karmizen kind of made it clear he would be dumping some of the channels.

I think what you will end up seeing is some of the channels being phased out and some of the programming format being moved elsewhere.

There is a lot of indentical programs running on both services right now.

[Jazzmoose]

If they fuck with my reggae, I will not be happy.

[Jim Alfredson]

We were almost on XM. Michelle Sammartino was really excited about Groovadelphia, then was canned. Now it looks like Russ Davis is going to be out, too.

I'll stick with my iPod, Blue Lake, WGVU, and WYCE, thank you.

[GregN]

We were almost on XM. Michelle Sammartino was really excited about Groovadelphia, then was canned. Now it looks like Russ Davis is going to be out, too.

I'll stick with my iPod, Blue Lake, WGVU, and WYCE, thank you.

Well, I for one, like XM. At least for the blues programming.

[catesta]

If they fuck with my reggae, I will not be happy.

I don't think you will ever seem them completely abandon a genre.

[Jim Alfredson]

No, but it appears they are cutting the jazz programing to one smooth jazz station and one traditional station. No place for modern stuff, like us (aka, Planet Jazz and Beyond Jazz).

[catesta]

No, but it appears they are cutting the jazz programing to one smooth jazz station and one traditional station. No place for modern stuff, like us (aka, Planet Jazz and Beyond Jazz).

The Planet Jazz program is still heard on Sirius.

When the realignment is finished, you will more than likely see there is still something like Beyond Jazz, only under a different name and broadcast from both satellites.

[Ed S]

No, but it appears they are cutting the jazz programing to one smooth jazz station and one traditional station. No place for modern stuff, like us (aka, Planet Jazz and Beyond Jazz).

The Planet Jazz program is still heard on Sirius.

When the realignment is finished, you will more than likely see there is still something like Beyond Jazz, only under a different name and broadcast from both satellites.

The Planet Jazz that's being referred to here used to be located on Sirius channel 70. It was not just a program but the name of the channel. Last year, when Sirius brought the Grateful Dead Station (I think) live they reshuffled their lineup - removing Planet Jazz and putting Sirius Disorder on Channel 70. I just checked their website and my radio and Channel 70 currently sits empty and Sirius Disorder has been moved to Channel 33.

I really dug PJ and also enjoy Beyond Jazz on XM (I get it on my Direct TV and since I have it up in the bedroom, I refer to it as SexM ) When they yanked PJ, I wrote to Sirius to complain and as I mentioned above was told that I could enjoy plenty of modern jazz on the Jazz Cafe and Spa 73 channels. So much for the knowledge of "jazz programmers"

I was hoping that when the two entities merged, I'd once again have access to a modern jazz station (Beyond Jazz) but I'm not so sure at this point.

By the way - I'm certain I heard an Organissimo tune on Beyond Jazz on Sex M.....er XM last year - from the "This is the Place" CD.

Edited October 16, 2008 by Ed Swinnich

[montg]

The semantics of this are funny--contemporary jazz is found on the station Beyond Jazz.

Personally, I don't care for most of the 'beyond jazz' content, I don't mind seeing the station go. However, I think room should be made on the 'real jazz' station on xm for groups like organissimo. The contemporary jazz content on xm is largely restricted to Wynton and the Lincoln Center folks.

[Ed S]

Just for my own information I searched Planet Jazz on the Sirius site and found out that they do indeed have a program called Planet Jazz that is offered on their smooth jazz station. Still miss the station, though. Tough to tell from the little blurb on the site, but looks to me like the old PJ station kicks the current smooth jazz Planet Jazz program's butt.

[Ed S]

The semantics of this are funny--contemporary jazz is found on the station Beyond Jazz.

Personally, I don't care for most of the 'beyond jazz' content, I don't mind seeing the station go. However, I think room should be made on the 'real jazz' station on xm for groups like organissimo. The contemporary jazz content on xm is largely restricted to Wynton and the Lincoln Center folks.

I have not listened for a while to Beyond Jazz, but I remember the Planet Jazz station on Sirius having a real nice variety of modern jazz - stuff like Metheny, Scofield, Abercrombie, Marc Johnson, Eric Alexander, Moran, Osby, Rosenwinkel, Meldhau, Charles Lloyd, Dave Holland, vocalists like Patricia Barber and Cassandra Wilson. Also lots of fusion guys like Miles Davis, WR, RTF et al. Sorry to say, but I dig that shit. Also sorry to hear that Beyond Jazz has gone the way of Wynton and his minions.

Edited October 16, 2008 by Ed Swinnich

[Jazzmoose]

There's only a limited selection of Sirius stations on Dish Network, I guess, because they only have the two jazz stations that I can see. Okay, the one and then the smooth jazz...

[RousePR]

XM and Sirius already started their process of laying off some people to merge some of the stations. I know a few in different genres including jazz that have just now got laid off. Sad for those who thought they were life-ers.

[Guest Bill Barton]

XM and Sirius already started their process of laying off some people to merge some of the stations. I know a few in different genres including jazz that have just now got laid off. Sad for those who thought they were life-ers.

Indeed sad news... No such thing as a "life-er" in radio though, I hate to say.

[RousePR]

XM and Sirius already started their process of laying off some people to merge some of the stations. I know a few in different genres including jazz that have just now got laid off. Sad for those who thought they were life-ers.

Indeed sad news... No such thing as a "life-er" in radio though, I hate to say.

I do agree about "life-er". 8 years is quite a long time in one organization. The music industry is a tough one.