XM-Sirius merger approved; Sirius will announce earnings tomorrow
July 27, 2008 8:54 pm News, Politics
The long-awaited, oft-debated approval of the merger between satellite radio providers XM and Sirius has been granted by the FCC’s top brass in a 3-2 vote. This is another piece of good news for both companies, and comes recently after XM announced increased subscription acquisitions and lower acquisition costs. Of course, most analysts were down on Sirius and XM in recent months, predicting that subscriber churn would continue to rise as the economy takes a downturn. That didn’t happen for XM, and it probably won’t happen for Sirius when they announce earnings on July 28th.