XM Satellite Radio, the satellite broadcast that hosts our Slice of SciFi show each week on The Sonic Channel, and Sirius Satellite Radio have announced a two month extension to their proposed merger deadline. This was done to off-set a penalty that would have been triggered since the original proposal occurred a year ago. Termination without a deal in place would have imposed that penalty against Sirius, since it was that company’s president that first offered up the idea of a merger to the Federal Communications Commission (FCC) and the Department of Justice (DOJ).
Under the original terms of their deal, first announced in February 2007, the companies could have walked away after March 1 if they did not receive regulatory approval, which has yet to happen. Currently the FCC and DOJ are still considering the option, thus the need for an extension on the original proposal.
When first proposed a year ago the deal was valued at nearly $4.6 billion (USD). Since that time, with more automobile makers including either Sirius or XM in their new car manufacturing, the expected value will increase, but no one is speculating by how much. If this merger does occur then whatever name it goes by will see not only Slice of SciFi, the only SF news and entertainment broadcast currently available on any satellite radio, but also the likes of Bob Dylan’s show, Oprah Winfrey, Howard Stern, Major League Baseball and the National Football League all under the same extraterrestrial roof.
While both companies remain separate shares are dropping off, but with a merger those shares are expected to see a significant rise over time.
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