Sirius, XM File Merger Docs With SEC
March 21, 2007 at 11:14 AM (PT)
As MEL KARMAZIN mentioned in his Senate Antitrust panel testimony yesterday (3/20), SIRIUS and XM have filed their formal merger documents in an 8-K report to the SEC today.
The filing, as KARMAZIN previewed and ALL ACCESS reported, asserts that consumers will be able to subscribe to tiers of packages that will start at a price lower than each service's present $12.95 per month or to "premium" packages with the "best of both" networks at a premium price (but lower than the combined $25.90 per month for both at present). The filing argues that since satellite radio accounts for just 3.4% of all radio listening, the combined company would not be wielding dominant market power.
Read the whole filing by clicking here.