Huge day in telecom

Among other things, XM and Sirius have announced plans to merge.

XM, SIRIUS TO MERGE
With an unanticipatedly quick technological breakthrough allowing interoperablity for Sirius and XM receivers, the two companies will announce later today that they are merging to form Your Satellite Radio (YSR). “They were the technology leaders,” Mel Karmazin, Sirius’s chief executive, said of XM. “We were the content leader. Combined, we’ll be the market leader in a matter of years.” YSR’s integrated technology will offer, potentially, thousands of audio channels for subscribers. The new radios will be installed on all new GM, BMW, DaimlerChrysler AG and Ford cars sold in the US beginning with 2006 models. XM’s Hugh Panero will be the new company’s CEO, but Karmazin will get the corner office in the new company’s headquarters. “It is the only one big enough to hold his, um, belongings,” a spokesperson said.
[SOURCE: Rooters, AUTHOR: Drew O’Sullivan]

Other headlines include:

  • Telecos Agree on Telecom Act Rewrite
  • New FCC Chief Martin Resigns Abruptly
  • NAB, NCTA Bad Blood Spills into Conventions
  • Battle for MCI Changes Course — Verizon ups offer for MCI and agrees to buy Qwest

More…

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