In a move that will create a combined enterprise of approximately $13-billion, Sirius Satellite Radio and XM Satellite Radio have announced today an all-stock merger, combining the two satellite companies.

“We are excited for the many opportunities that an XM and Sirius combination will provide consumers,” said Gary Parsons, Chairman of XM Satellite Radio, and Hugh Panero, CEO of XM Satellite Radio, in a joint statement.

The deal is not yet finalized as it is still pending approval by Sirius and XM shareholders, regulatory reviews and the FCC.

Sirius delivers more than 130 channels with 69 commercial-free music channels. SIRIUS also offers sporting channels with partnerships with the NFL, Nascar, NBA and NHL.

Sirius also boasts the king of shock rock radio, Howard Stern.

XM is currently the number one satellite radio provider with more than 7.6 million subscribers and studios all over the United States and Canada. XM delivers 170 digital channels and has strong partnerships in the automobile industry.

There are currently no details on the structure of the partnership, or even the name the new company will operate under.






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