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Old 02-19-2007, 01:34 PM   #1
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Default Sirius & XM set to Confirm Merger Plan Today (NY Post)

Sirius & XM set to Confirm Merger Plan Today (NY Post)

http://www.nypost.com/seven/02192007...ter_lauria.htm




Quote:
SIRIUS, XM SET TO CONFIRM MERGER PLAN TODAY

February 19, 2007 -- Satellite radio operators Sirius and XM are expected to announce their long-awaited merger today, according to a source familiar with the deal.

The two sides were locked in negotiations over the weekend trying to hammer out a final agreement with an eye toward going public with the merger today in Washington, D.C., where XM is based, this source said.

Talks were still going on at press time and the deal could fall apart at any time. With antitrust issues of paramount importance, this source said lawyers for both companies were working overtime to fine-tune the language of the agreement and frame the discussion around the deal itself and not regulatory concerns.

The transaction is expected to be structured as a merger of equals, but given Sirius' higher enterprise value, shareholders in the Mel Karmazin-led firm will likely come away with a larger percentage of a combined company.

According to the source, XM Chairman Gary Parsons will retain that title in the combined entity, with Karmazin likely taking the CEO role. It is unclear what role, if any, XM CEO Hugh Panero will play.

Combining Sirius and XM would result in a single satellite radio operator with more than 12 million total subscribers. A deal would also marry Sirius content, such as Howard Stern, Frank Sinatra and Nascar with XM's Oprah Winfrey, Bob Dylan and Major League Baseball.

More important, analysts widely predict that a deal would also save the two companies nearly $7 billion annually.

Karmazin and Parsons have been dropping hints since last summer about a possible tie-up, believing that competition from terrestrial radio, online radio and mobile music devices such as iPods have not only expanded the marketplace but also lowered the regulatory hurdles to a deal.

In a note on Friday, Bear Stearns analyst Robert Peck speculated that Sirius and XM needed to move quickly before their window of opportunity closed.

Gaining regulatory approval "could take up to 15 months; hence, we think any proposed deal needs to be announced by the end of March to close by mid-2008," Peck wrote.

On Friday, XM shares hit their lowest point since early November while Sirius shares were approaching 52-week lows. Shares in both companies did trade on heavy volume and ended the session higher, with Sirius gaining 10 cents to close at $3.70 and XM jumping a dollar to $13.98.
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Old 02-19-2007, 01:51 PM   #2
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How in the world would authorities agree to this? Where is the competition in satellite radio business?
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Old 02-19-2007, 02:09 PM   #3
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The argument is that satellite radio competes with terrestrial / HD radio, not just XM vs Sirius.
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Old 02-19-2007, 03:20 PM   #4
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Hmm interesting. We'll see how the SEC sees things. Personally I am neither for or against the idea, with the only possible exception that this would enable them to jack up rates to their hearts content. I have an XM and love it, and it would be a tough decision to keep it if my monthly sub went up to 20 bucks a month or higher
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Old 02-19-2007, 03:27 PM   #5
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I am glad I held off from buying satelite radio, I would recommend everyone to wait for the dust to settle. Satelite radio monopoly? F**K em, I got my ipod anyway. Podcasts are better anyway.
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Old 02-19-2007, 03:45 PM   #6
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This is fine with me, right now my legacy is only XM compatible, this will save me from having to install a seaparte aftermarket Sirius unit.

Ed
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Old 02-19-2007, 03:58 PM   #7
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Official Press Release:

SIRIUS and XM to Combine in $13 Billion Merger of Equals

Quote:
Provides Consumers with Enhanced Content, Greater Choices and Accelerated Technological Innovation

Enables Satellite Radio to Better Compete in Rapidly Evolving Audio Entertainment Industry

Extraordinary Value Creation for Shareholders

Mel Karmazin to Serve as Chief Executive Officer and Gary Parsons to Serve as Chairman of Combined Company


XM Satellite Radio (Nasdaq: XMSR) and SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that they have entered into a definitive agreement, under which the companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $13 billion, which includes net debt of approximately $1.6 billion.

Under the terms of the agreement, XM shareholders will receive a fixed exchange ratio of 4.6 shares of SIRIUS common stock for each share of XM they own. XM and SIRIUS shareholders will each own approximately 50 percent of the combined company.

Mel Karmazin, currently Chief Executive Officer of SIRIUS, will become Chief Executive Officer of the combined company and Gary Parsons, currently Chairman of XM, will become Chairman of the combined company. The new company's board of directors will consist of 12 directors, including Messrs. Karmazin and Parsons, four independent members designated by each company, as well as one representative from each of General Motors and American Honda. Hugh Panero, the Chief Executive Officer of XM, will continue in his current role until the anticipated close of the merger.

The combined company will benefit from a highly experienced management team from both companies with extensive industry knowledge in radio, media, consumer electronics, OEM engineering and technology. Further management appointments will be announced prior to closing. The companies will continue to operate independently until the transaction is completed and will work together to determine the combined company's corporate name and headquarters location prior to closing.

The combination creates a nationwide audio entertainment provider with combined 2006 revenues of approximately $1.5 billion based on analysts' consensus estimates. Today the companies have approximately 14 million combined subscribers. Together, SIRIUS and XM will create a stronger platform for future innovation within the audio entertainment industry and will provide significant benefits to all constituencies, including:

* Greater Programming and Content Choices -- The combined company is committed to consumer choice, including offering consumers the ability to pick and choose the channels and content they want on a more a la carte basis. The combined company will also provide consumers with a broader selection of content, including a wide range of commercial-free music channels, exclusive and non-exclusive sports coverage, news, talk, and entertainment programming. Together, XM and SIRIUS will be able to improve on products such as real-time traffic and rear-seat video and introduce new ones such as advanced data services including enhanced traffic, weather and infotainment offerings.

* Accelerated Technological Innovation -- The merger will enable the combined company to develop and introduce a wider range of lower cost, easy-to-use, and multi-functional devices through efficiencies in chip set and radio design and procurement. Such innovation is essential to remaining competitive in the consumer electronics-driven world of audio entertainment.

* Benefits to OEM and Retail Partners -- The combined company will offer automakers and retailers the opportunity to provide a broader content offering to their customers. Consumer electronics retailers, including Best Buy, Circuit City, RadioShack, Wal-Mart and others, will benefit from enhanced product offerings that should allow satellite radio to compete more effectively.

* Enhanced Financial Performance -- This transaction will enhance the long-term financial success of satellite radio by allowing the combined company to better manage its costs through sales and marketing and subscriber acquisition efficiencies, satellite fleet synergies, combined R&D and other benefits from economies of scale. Wall Street equity analysts have published estimates of the present value of cost synergies ranging from $3 billion to $7 billion.

* More Competitive Audio Entertainment Provider -- The combination of an enhanced programming lineup with improved technology, distribution and financials will better position satellite radio to compete for consumers' attention and entertainment dollars against a host of products and services in the highly competitive and rapidly evolving audio entertainment marketplace. In addition to existing competition from free "over-the-air" AM and FM radio as well as iPods and mobile phone streaming, satellite radio will face new challenges from the rapid growth of HD Radio, Internet radio and next generation wireless technologies.

"We are excited for the many opportunities that an XM and SIRIUS combination will provide consumers," said Gary Parsons, Chairman of XM Satellite Radio and Hugh Panero, CEO of XM Satellite Radio, in a joint statement. "The combined company will be better positioned to compete effectively with the continually expanding array of entertainment alternatives that consumers have embraced since the Federal Communications Commission (FCC) first granted our satellite radio licenses a decade ago."

"This combination is the next logical step in the evolution of audio entertainment," said Mel Karmazin, CEO of SIRIUS Satellite Radio. "Together, our best-in-class management team and programming content will create unprecedented choice for consumers, while creating long-term value for shareholders of both companies. The combined company will be positioned to capitalize on SIRIUS and XM's complementary distribution and licensing agreements to enhance availability of satellite radios, offer expanded content to subscribers, drive increased advertising revenue and reduce expenses. Each of our companies has a strong commitment to providing listeners the broadest range of music, news, sports and entertainment and the best customer service possible. We look forward to sharing the benefits of the exciting new growth opportunities this combination will provide with all of our stakeholders."

The transaction is subject to approval by both companies' shareholders, the satisfaction of customary closing conditions and regulatory review and approvals, including antitrust agencies and the FCC. Pending regulatory approval, the companies expect the transaction to be completed by the end of 2007.

SIRIUS's financial advisor on the transaction is Morgan Stanley and Simpson Thacher & Bartlett LLP and Wiley Rein LLP are acting as legal counsel. XM's financial advisor on the transaction is J.P. Morgan Securities Inc. and Skadden Arps, Slate, Meagher & Flom LLP; Jones Day; and Latham & Watkins LLP are acting as legal counsel.

Conference Call and Webcast Information

The companies will hold a joint conference call and webcast on Tuesday, February 20, 2007 at 8:30 AM ET to discuss this announcement. The conference call can be monitored by dialing 800-573-4840 within the U.S. and 617-224-4326 for all other locations, passcode 29490052. The webcast can be accessed at http://www.sirius.com and http://www.xmradio.com as well as on their satellite radio services by tuning to SIRIUS channel 122 and XM channel 200. The webcast will be archived at http://www.sirius.com and http://www.xmradio.com.
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Old 02-19-2007, 04:08 PM   #8
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"* Greater Programming and Content Choices -- The combined company is committed to consumer choice, including offering consumers the ability to pick and choose the channels and content they want on a more a la carte basis. The combined company will also provide consumers with a broader selection of content, including a wide range of commercial-free music channels, exclusive and non-exclusive sports coverage, news, talk, and entertainment programming. Together, XM and SIRIUS will be able to improve on products such as real-time traffic and rear-seat video and introduce new ones such as advanced data services including enhanced traffic, weather and infotainment offerings.
"

Translation: They want a tiered pricing model like cable or directv where the channels you want are in the "Silver" package or whatever for $10extra a month.

The net result is the service would cost you more.

This isn't necessarily bad, but then with no competitors ... I think the deal will be struck down for anti-trust reasons, regardless of the argument they compete against terrestial/ipod or whatever.

-Allen
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Old 02-19-2007, 04:42 PM   #9
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FCC Chief Cautions On Satellite Merger

http://www.forbes.com/2007/01/18/sir...markets03.html

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Kevin Martin, chairman of the Federal Communications Commission, is doing his best to discourage speculation that America's two satellite radio companies are likely to merge.

The FCC chief said on Wednesday following a monthly meeting that licenses granted to the satellite radio companies precluded them from being combined.

Investors and analysts in recent weeks have increasingly entertained the idea that Sirius Satellite Radio (nasdaq: SIRI - news - people ) and XM Satellite Radio (nasdaq: XMSR - news - people ) will merge, sending shares in the companies up more than 14% each so far this year.

Although automobiles are increasingly being outfitted with satellite radio, the market is not sufficiently strong to support two players, so a merger makes sense. ( See "Analysts Hint At XM, Sirius Merger")

Still, Martin’s position hasn’t discouraged investors any, with shares of Sirius and XM remaining rising in late trading on Thursday. Sirius stock climbed 4.7%, or 18 cents, to $4.04, while shares of XM were up $1.22, or 7.9%, to $16.67.

Robert Peck, a Bear Stearns analyst, lifted his rating on Sirius to “peer perform” from “underperform,” saying he thinks merger speculation will likely continue to boost shares.

In a note to clients, Peck said the sell-off was overdone, since Martin was simply acknowledging already existing information, not sharing an opinion on a potential merger.

Eileen Furukawa a Citigroup analyst, had similar comments in a separate client note. “In our view, Chairman Martin was simply reiterating a widely known fact, and not necessarily indicating which way he would lean should a merger ever be attempted,” wrote Furukawa, who has a “buy” rating on both companies.

Both analysts acknowledged, however, that regulatory issues would need to be overcome if there were to be a merger.

“We underscore there are significant hurdles for Sirius and XM to overcome should they pursue a merger,” wrote Peck. “However, we believe the short term movement of Sirius' stock price will be more impacted by the mere pursuit of a merger, should they attempt one.”

Thomas Eagan, an Oppenheimer equity research analyst, also rates the stocks a “buy.” In an investor note Wednesday, he said the factory installation of satellite radio in cars will become standard for automakers.

“Additionally, both companies reached cash flow breakeven points in the fourth quarter of 2006,” he said, “suggesting that the leverage embedded in the companies’ recurring revenue model is being realized.”
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Old 02-19-2007, 05:19 PM   #10
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I have mixed feelings about this.

On the one hand I have been wanting to get Sirius since day one, but put off the purchase till they got a usable portable unit - which even today, they still don't. XM is supposed to have much better recievers, so being able to get Sirius programming on XM devices sounds like a great thing...

... BUT then on the other hand, they will be a satellite monopoly if this goes through. And we all know how bad the Cable TV monopoly is - expect reduced quality in their programming, and higher prices. Also I albsolutely DESPISE Clear Channel for what they did to terrestrial radio and their subtle right-wing political slant - and CC owns a chunk of XM. If the combined XM+Sirius company still has ties to CC that alone might be enough to keep me from joining them.

Also, while I do think this would be a monopoly, I have no doubt in my mind that the pro-business/anti-consumer climate that we have been in for the last 6 years will continue and the FCC will let them merge under some silly conditions or some-such.
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Old 02-19-2007, 05:45 PM   #11
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I have more bad feelings about this than good. Monopoly being #1 on my list. It's bad enough we deal with cable and telephone companies (though that is changing), now satelite radio? Lucky for me, I just listen to my MP3's but it would've been a nice option to have.

<shrug>
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Old 02-19-2007, 07:46 PM   #12
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i have been a sirius subscriber for about a year now and i love it, but this doesn't sound that great to me. I want to know how this will directly affect my monthly cost. Right now it's 12.95 per month, but since there will no longer be any direct competition who's to say they won't start charging $20 per month now? this can only be a bad thing in my eyes, competition acts like a system of checks and balances. i guess we'll have to just wait and see how this pans out.
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Old 02-19-2007, 09:21 PM   #13
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it was only a matter of time....Sirius is hot on the trail of XM for subscriptions...I have sirius for one reason....Howard Stern....who is basically the reason why sirius has outsold XM since jan 06....having one company isnt a monopoly. A monopoly is say....your local Cable company...charging whatever they want for content that they never created, but holds the key too. If you think about it...anyone can start a satellite radio company....Just get investors....build satellites....launch em into outerspace...then create content...yea theres music...but its not just that. The SEC has not say in this matter. Look back in the early years of cable tv....there were 2..ON tv and HBO. Then showtime showed up....now theres just cable tv...or satellite...which is the same content. The SEC didnt do anything about it because its a pay service...just like satellite radio.
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Old 02-19-2007, 10:38 PM   #14
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^^^que?

First things first.

"In economics, a monopoly (from the Greek monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a kind of product or service. Monopolies are characterized by a lack of economic competition for the good or service that they provide and a lack of viable substitute goods."

Secondly, you seem be confusing certain SEC duties with those of the FCC and vice versa.

Also, your own example of a monopoly is poor as based on your reasoning if a company wants to start a sat. radio company it would be no different than someone wanting to start a cable tv company...it makes not sense.
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Old 02-19-2007, 10:48 PM   #15
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Quote:
Originally Posted by Hazdaz View Post
I have mixed feelings about this.

On the one hand I have been wanting to get Sirius since day one, but put off the purchase till they got a usable portable unit - which even today, they still don't. XM is supposed to have much better recievers, so being able to get Sirius programming on XM devices sounds like a great thing...

... BUT then on the other hand, they will be a satellite monopoly if this goes through. And we all know how bad the Cable TV monopoly is - expect reduced quality in their programming, and higher prices. Also I albsolutely DESPISE Clear Channel for what they did to terrestrial radio and their subtle right-wing political slant - and CC owns a chunk of XM. If the combined XM+Sirius company still has ties to CC that alone might be enough to keep me from joining them.

Also, while I do think this would be a monopoly, I have no doubt in my mind that the pro-business/anti-consumer climate that we have been in for the last 6 years will continue and the FCC will let them merge under some silly conditions or some-such.
You know about the Sirius Stiletto, right?

Quote:
Originally Posted by raginbull74 View Post
it was only a matter of time....Sirius is hot on the trail of XM for subscriptions...I have sirius for one reason....Howard Stern....who is basically the reason why sirius has outsold XM since jan 06....having one company isnt a monopoly. A monopoly is say....your local Cable company...charging whatever they want for content that they never created, but holds the key too. If you think about it...anyone can start a satellite radio company....Just get investors....build satellites....launch em into outerspace...then create content...yea theres music...but its not just that. The SEC has not say in this matter. Look back in the early years of cable tv....there were 2..ON tv and HBO. Then showtime showed up....now theres just cable tv...or satellite...which is the same content. The SEC didnt do anything about it because its a pay service...just like satellite radio.
... Alllll-right!


This is a positive thing. I already pay for both services since one offers better sports packages (XM) and the other offers Stern (Sirius). The music channels are basically identical between services already so 80% of the programming is redundant anyway. I'd gladly pay $20 a month for NCAA sports, NFL, Stern, and the myriad of music channels. Plus Sirius doesn't have advertising where XM reintroduced it not too long ago.
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Old 02-19-2007, 10:57 PM   #16
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Quote:
Originally Posted by woody06967 View Post
You know about the Sirius Stiletto, right?



... Alllll-right!


This is a positive thing. I already pay for both services since one offers better sports packages (XM) and the other offers Stern (Sirius). The music channels are basically identical between services already so 80% of the programming is redundant anyway. I'd gladly pay $20 a month for NCAA sports, NFL, Stern, and the myriad of music channels. Plus Sirius doesn't have advertising where XM reintroduced it not too long ago.
since you already are paying $26 per month i can see why $20 would be a great thing for you, but for those of us who only subscribe to one service any boost in cost would not be a good thing. plus i like the fact that sirius has 100% commercial free music stations, i hope that something that doesn't change with this merger.
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Old 02-19-2007, 11:21 PM   #17
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i'm a big fan of XM but i can also see alot of good things about what Sirius has to offer. i could give a **** about howard stern too.

anyhow, i've been telling everyone that's been talking about satellite radio over the past 2 years that these companies will merge at some point in the near future. it seems really remenicant of when direct tv first came out. if you remember two companies provided a digital satellite service which was broadcast through the RCA receivers. that lasted all of about a year when the two companies merged which brought about a pretty damn good product, especially if you are living in the boonies with no other means of cable service.

i don't there will be be a big push to claim that these (or this) company (s) will hold a monopoly on the radio market. HD radio is starting to come about and there will always be those who love to listen to endless mindless morning radio shows, car dealership commercials and top pop music.

if anything this merger will seal up the satellite radio market for a little bit (it's not like they had direct competition anyways) until someone starts pushing the envelope and comes up with a new technology. for me to play with when i should be paying attention to the road.

hopefully soon we will be seeing real-time traffic updates with video feeds and televison programming. perhaps even some sort of feasible in-car broadband connections to the interweb.

-alan
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Old 02-20-2007, 11:38 AM   #18
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Quote:
Originally Posted by doolbnroht
anyhow, i've been telling everyone that's been talking about satellite radio over the past 2 years that these companies will merge at some point in the near future. it seems really remenicant of when direct tv first came out. if you remember two companies provided a digital satellite service which was broadcast through the RCA receivers. that lasted all of about a year when the two companies merged which brought about a pretty damn good product, especially if you are living in the boonies with no other means of cable service.
Ummm.. DirectTV and Dish Network did not merge. They got shot down early on over anti-trust laws.

The only reason the satellite companies are better than the cable companies is because they aren't monopolies.

The only reason these companies want to merge is because they know that their pockets would be lined with gold for good if they could grab onto a monopoly. I don't see a single positive thing about the prospect of a merger.
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Old 02-20-2007, 12:31 PM   #19
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Quote:
Originally Posted by Sirius Email
February 19, 2007

To: SIRIUS Subscribers

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 will continue to provide you with the uninterrupted service - as well as the outstanding customer support - that you have come to expect and enjoy from SIRIUS. We do not anticipate any changes in your service during the merger process, however, please call our customer care team on 1- 888-539-7474 should you have any questions.

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.

Stay tuned,

Mel Karmazin, CEO






Forward Looking Statements
This letter contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc., including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "should," "may," or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: general business and economic conditions; the performance of financial markets and interest rates; the ability to obtain governmental approvals of the transaction on a timely basis; the failure of SIRIUS and XM shareholders to approve the transaction; the failure to realize synergies and cost-savings from the transaction or delay in realization thereof; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; and operating costs and business disruption following the merger, including adverse effects on employee retention and on our business relationships with third parties, including manufacturers of radios, retailers, automakers and programming providers. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' and XM's Annual Reports on Form 10-K for the year ended December 31, 2005, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2006, June 30, 2006 and September 30, 2006 which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site http://www.sec.gov The information set forth herein speaks only as of the date hereof, and Sirius and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this press release.

Important Additional Information Will be Filed with the SEC
This communication is being made in respect of the proposed business combination involving SIRIUS and XM. In connection with the proposed transaction, SIRIUS plans to file with the SEC a Registration Statement on Form S-4 containing a Joint Proxy Statement/Prospectus and each of SIRIUS and XM plan to file with the SEC other documents regarding the proposed transaction. The definitive Joint Proxy Statement/Prospectus will be mailed to stockholders of SIRIUS and XM. INVESTORS AND SECURITY HOLDERS OF SIRIUS AND XM ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Investors and security holders will be able to obtain free copies of the Registration Statement and the Joint Proxy Statement/Prospectus (when available) and other documents filed with the SEC by SIRIUS and XM through the web site maintained by the SEC at www.sec.gov. Free copies of the Registration Statement and the Joint Proxy Statement/Prospectus (when available) and other documents filed with the SEC can also be obtained by directing a request to Sirius Satellite Radio Inc., 1221 Avenue of the Americas, New York, NY 10020, Attention: Investor Relations or by directing a request to XM Satellite Radio Holdings Inc., 1500 Eckington Place, NE Washington, DC 20002, Attention: Investor Relations.

SIRIUS, XM and their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding SIRIUS' directors and executive officers is available in its Annual Report on Form 10-K for the year ended December 31, 2005, which was filed with the SEC on March 13, 2006, and its proxy statement for its 2006 annual meeting of stockholders, which was filed with the SEC on April 21, 2006, and information regarding XM's directors and executive officers is available in XM's Annual Report on Form 10-K, for the year ended December 31, 2005, which was filed with the SEC on March 3, 2006 and its proxy statement for its 2006 annual meeting of shareholders, which was filed with the SEC on April 25, 2006. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Joint Proxy Statement/Prospectus and other relevant materials to be filed with the SEC when they become available.



Please note: this is not a promotional e-mail. As a SIRIUS subscriber, you will periodically receive service notices via e-mail. These service notices are intended to provide you with helpful information that will facilitate and enhance your SIRIUS listening experience.
from my email this morning, just figured i'd share what they are really saying to current subscribers. the legal BS after the main body is unreal....
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Old 02-21-2007, 01:16 AM   #20
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If they dump O&A Ill dump my subscription.

Howard Stern used to be great, he has sucked for a couple years now unfortunately, and with Mel swinging from Howards nutsack, this doesnt bode well for O&A.


Even though their show has just as much or more pull than Howards does nowadays. Who knows..
The SMART business decision would be to keep BOTH.
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Old 02-21-2007, 08:01 AM   #21
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I really wouldn't get upset about those things yet... there's still very little chance of any of this happening.
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Old 02-21-2007, 12:32 PM   #22
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News Say it aint so

I have Sirius (in dash) and I recieved an e-mail stating they hope to have the merger by the end of the year.Promising nothing was going to change, right... They are going to share the rights to shows like Stern, Stewart, ect.. and the sports broadcasts between the two companies. Not sure about a monopoly based on the fact you don't have to buy it, but if they jack the price up, I'm out.
My wife has XM and I think that Sirius is the better of the two. XM actually has music channels with commercials on them! What the hell is the point of that?
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Old 02-21-2007, 01:13 PM   #23
Calamity Jesus
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Originally Posted by mikebus7 View Post
My wife has XM and I think that Sirius is the better of the two. XM actually has music channels with commercials on them! What the hell is the point of that?
The point of that is that ClearChannel gets to cover all the bases.

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Old 02-21-2007, 01:20 PM   #24
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Originally Posted by raginbull74 View Post
...A monopoly is say....your local Cable company...charging whatever they want for content that they never created, but holds the key too...
Just want to respectfully enlighten you a bit. I know I will be slammed on this, as just about everyone in this country believes cable companies are the . Disclaimer - I DO NOT work for a cable company however I do work in the industry, i.e. I work in the technical side of video delivery for any company that wants to deliver video --> cable, telco, satellite, IPTV ...

You are right that cable does not create the content. All companies have to pay a lot of money for the rights to that content. That means the content houses which distribute the content, satellite uplinks, charge a lot of money for the content, it is far from free. Currently, those content houses are scrambling to bring content straight to the consumer so they can make higher margins. So, for all that think cable/satellite are ripping you off and making gobs of money, think again. Yes, those companies are making money, but it is not from the standard tiered video service they are offering. Also, sometimes cable operators lose money on their tiered services so they can make very good margins on the biggest money makers for cable, broadband and ad insertion. Are you going to drop your broadband any time soon? Didn't think so.

But now, back on topic for the Sirius/XM merger talks. Video is becoming bigger everyday. Sirius is planning on delivering video as well, this is well known. This merger really looks like a way for Siruis/XM to bring their two companies together to be stronger/able to bring mobile video to market. The reason I mention this is because mobile video will be another argument their lawyers will argue to get the merger to go through. This is not just about mobile video to cars, this is about mobile video to hand held units.

Tell me, how many people are against mobile video?
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Old 02-21-2007, 01:58 PM   #25
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Tell me, how many people are against mobile video?
Me. Don't we have enough distractions in the car already.


My knee jerk reaction was to say this sucks, XM doesn't need a failing Sirius. But I think this will end up benefiting everyone. As long as they don't raise prices.

What does suck, if this deal goes down a lot of people at both Sirius and XM are going to lose their jobs.
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