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Sirius and XM complete merger, now a combined company
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 [...]
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Helio stores to close; customers transferring to Virgin Mobile?
Chalk it up as a rumor for now. According to Engadget, Helio store managers have received word that at least some of the Helio retail stores will be closing during Virgin Mobile’s takeover of Helio. Additionally, they’ve been told that the “merger” title is really more like “buyout,” with SK Telecom bailing after its completion. [...]
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Upcoming Sirius/XM merger tentatively approved
The Federal Communications Commission’s staff has tentatively proposed that the government approve the long delayed Sirius/XM merger. The ‘green light’ could come in as soon as three weeks. According to Kevin Martin, Chairman of the FCC, the move would be “in the public interest” as long as the company continues to abide by [...]
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Verizon Wireless buys Alltel for $28.1 billion
Announced earlier, Verizon Wireless has formally agreed to buy Alltel for $28.1 billion. When the purchase is complete, the company will have 80 million subscribers, making it the largest in the United States. In the press release, Verizon states that the 13 million customers in the 34 states that Alltel serves are primarily in rural [...]
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