XM Satellite Radio and SIRIUS Satellite Radio announced yesterday that they have entered into a definitive agreement, under which the companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $13 billion, which includes net debt of approximately $1.6 billion.
However, any cuts in programming (comedy in particular) remain unclear.
Source: SIRIUS Satellite Radio; XM Satellite Radio
