Sirius XM (SIRI) shares are down sharply again this morning, one day after the company provided updated guidance that disappointed the Street.
The company’s new guidance, in case you missed it:
Subscribers: 19.5 million at year-end 2008, 21.5 million at year-end 2009.
You know what would be cool? If you could stream Sirius (SIRI) or XM satellite radio
on your Apple (AAPL) iPhone.
As it happens, Citigroup’s Tony Wible this morning writes in a research note that there are “reports” of a new Internet streaming application that would allow SIRI users to listen on portable devices.
Sirius (SIRI) and XM (XMSR) this morning completed their merger, at long last. Terms of the deal called for XM holders to get 4.6 SIRI shares for each share of XMSR.
But are investors are celebrating? No, they are not.
As you know by now, the FCC on Friday at long last approved the pending merger of XM Satellite Radio (XMSR) and Sirius Satellite Radio (SIRI). That should clear the way for the completion of the merger.
In what could be one of the final steps before the Federal Communications Commission approves their pending merger, XM Satellite Radio (XMSR) and Sirius Satellite Radio (SIRI) announced this morning that they are in talks with the FCC’s Enforcement Bureau to settle outstanding “enforcement matters.”
Federal Communications Commission member Jonathan Adelstein has voted to oppose the proposed merger of XM Satellite Radio (XMSR) and Sirius Satellite Radio (SIRI), leaving the current tally tied at 2-2, with only Deborah Taylor Tate yet to decide. If she votes yes, the deal goes through. If she votes no, the deal dies.
The great satellite radio merger inches ever closer.
This morning, XM Satellite Radio (XMSR) announced a $400 million offering of senior notes, which it said is “part of a series of transaction to refinance certain debt” in connection with its pending merger with Sirius Satellite Radio (SIRI).
Howard Stern hit the jackpot when he moved to satellite radio more than three years ago. He’s pocketing $80 million a year and has received Sirius Satellite Radio stock worth roughly $200 million for meeting subscriber growth targets spelled out in his five-year contract. But the shock jock may be in for a shock of his own when his deal expires in 2010.
Merrill Lynch’s Glen Campbell this morning raised his rating on Sirius Satellite Radio (SIRI) to Buy from Hold, while slightly trimming his price target to $2.70 from $2.80. Campbell says he expects “imminent approval” from the FCC for its pending merger with XM Satellite Radio (XMSR).
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