XM/Sirius merger confirmed, but “not so fast” says regulator
It’s confirmed. Both Sirius and XM Radio in the U.S. are planning to merge. Needless to say, both of the companies’ Canadian arms are carefully reviewing the proposal.
Three cheers for competition. Hip hip… oh, never mind.
Canadian Reaction
XM Canada already loves the idea. “This is great news for the satellite radio industry in North America and could offer further benefits to consumers, retailers, partners and shareholders,” said John I. Bitove, Chairman of Canadian Satellite Radio Holdings Inc. “As Sirius and XM seek U.S. government approval, we will diligently review the possible alternatives available to Canadian Satellite Radio.”
Read: “Holy crap, we want to merge ASAP too!!!”
Sirius Canada, XM Canada’s competitor, is 40% owned by the CBC. They put out a release late today, saying, uh, pretty much nothing. “SIRIUS Canada’s 300,000 subscribers will continue to receive the best news, talk, sports, entertainment and commercial-free music programming available,” said Mark Redmond, President and CEO, SIRIUS Canada Inc. “SIRIUS Canada’s board of directors and senior leadership team is working closely with SIRIUS Satellite Radio in the U.S., CBC and Standard Radio Inc. here in Canada to ensure the Canadian operation continues to deliver the best entertainment available.”
UPDATE: The U.S. broadcast regulator is saying it will block such a merger.
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I’m a Sirius subscriber. It’s the best musical, sports, news, and talk content available. I look forward to the merger only in that it will preserve this technology as a medium.
Babba Booie!
The readon for the merger?
Two words:
Howard Stern.
How long has satellite radio been available to the consumer? And already it’s reached the apex of media concentration…
The future looks bleak.
Oh, and what of this?
Bob: I refer you to this with regard to the true nature of the Newsroom blog site you refer to.
[...] by the merger through XM’s and Sirius’s Canadian off-shots. InsidetheCBC reports that XM Canada “loves the idea” while Sirius Canada is more muted in its [...]
# Dwight Williams Says:
Thanx Dwight! One more to add to my reading list.
Even though Newsroom seems to be a promotional blog it still has substantial comments that are worth reading on their own merit. No, I’m not affiliated. Just a quidnunc (in the 1910 OED sense of the word).
–Bob.