Posted by: Seth Shapiro
Here’s the email I just got as a stockholder. Mel Karmazin is one of the underdog geniuses of the industry.
“Today is a very exciting day for SIRIUS customers. As you may have heard, SIRIUS Satellite Radio and XM Satellite Radio are merging to form the nation’s premier audio entertainment provider.
This combination of our two offerings will benefit you – our loyal listeners. As a single company, we’ll provide superior programming to you every day with the best of both SIRIUS and XM. Currently, XM and SIRIUS broadcast a wide range of commercial-free music channels, exclusive sports coverage, news, talk, and entertainment programming. Howard Stern. Oprah and Friends. The NFL. MLB. NBA. ESPN. CNBC. Fox News. Additionally, the combined company will be able to improve existing services such as real-time traffic information and rear-seat video as well as introduce new ones.
After shareholder and regulatory approvals, we anticipate that the combination will be finalized by the end of 2007. Until then, both companies will continue to operate independently. We look forward to the many benefits this combination will offer and continuing to make your listening experience an enjoyable one – offering more of the Very Best Radio on Radio.
Mel Karmazin, CEO”