Sirius and XM complete merger, now a combined company

By Aaron Baker • July 30, 2008

The long awaited merger between Sirius and XM is now complete after Friday’s approval by the FCC. Having received Department of Justice approval in March, the newly created Sirius XM Radio Inc. will trade on NASDAQ under the symbol “SIRI.” Current XM Radio shareholders will receive 4.6 shares of Sirius stock for each share of XM they hold.

The combined company will have 18.5 million subscribers and their second quarter revenue totaled US$2.4 billion. Because of restrictions placed on the company by the FCC, Sirius XM Radio will offer two a la carte options to subscribers for the first time in addition to other programming packages.

[via Geek]

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