Sirius, XM Merger Raises Concerns

Law360 (February 20, 2007, 12:00 AM EST) -- Trying to relieve fears that federal regulators will obstruct their merger because of competition concerns, satellite radio companies Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. spent Tuesday addressing investor concerns.

The two companies announced what they called a $13 billion “merger of equals” on Monday, in which shareholders from XM and Sirius will have an equal stake. XM chairman Gary Parsons will be the chairman for the new company, and Sirius chief executive Mel Karmazin will serve as CEO.

However, since the two...
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