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Consumer Corner: Foreclosure settlement no magic bullet for economy
NEW YORK, July 29 (UPI) -- Sirius Satellite Radio and XM Satellite Radio announced Tuesday in New York that they have completed their merger.
The new company will change its corporate name to Sirius XM Radio Inc. and said the combined company's stock will be traded on the Nasdaq Global Select Market under the symbol "SIRI."
Sirius XM Radio said it is starting off with 18.6 million subscribers, making it the second-largest radio company, based on revenue, in the United States, after Clear Channel.
Sirius, with $283 million in second-quarter revenues, took 8.94 million subscribers to the deal, while XM, with second-quarter revenues of $318 million, added 9.65 million subscribers to the package.
"We have worked diligently to close this transaction and we look forward to integrating our best-in-class management teams and operations so we can begin delivering on our promise of more choices and lower prices for subscribers," Mel Karmazin, chief executive officer of Sirius XM Radio, said in a statement.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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