Sirius XM Merger

Satellite radio provider Sirius XM Radio Inc. said Monday it's been notified it now complies with the Nasdaq's independent director and audit committee requirements. Sirius had been notified by the Nasdaq on July 9 that it didn't comply with the requirements in order to stay listed after one of its independent directors resigned. Now, after the resignation of Gary Parsons as chairman and director, independent directors under the Nasdaq rules now constitute a majority of the company's board, Sirius said. Parsons founded XM Satellite Radio and was its chairman before the company's merger with Sirius. Shares fell 1 cents, or 2 percent, to about ... Read Full Story

Sirius XM Radio said Thursday that Gary Parsons has resigned as chairman and a member of the board and will be succeeded by Los Angeles Times publisher and CEO Eddy W. Hartenstein as non-executive chairman. Parsons founded XM Satellite Radio and was its chairman before the company's merger with Sirius. His replacement with an outside director brings the company in line with Nasdaq Stock Market rules on independent board members. In a statement issued by the company, Parsons said "now is the right time to step aside," following the merger of Sirius and XM. He said he was proud "of everything that has been ... Read Full Story

A credit ratings agency on Wednesday raised its outlook on Sirius XM Radio Inc. and its subsidiaries, citing improving profitability. Standard & Poor's Ratings Services upped the company's credit rating outlook to "Positive" from "Stable." A "Positive" outlook means that Sirius XM's rating may be raised over the next six months to two years. S&P also affirmed the satellite radio company's B- corporate credit rating. The rating covers Sirius XM's overall creditworthiness and means the company currently can meet its financial obligations. S&P said Sirius XM's profitability has improved, as measured by discretionary cash flow and earnings before interest, taxes, depreciation and amortization. Profitability ... Read Full Story

Sirius XM Radio Inc., the nation's only major satellite radio provider, on Thursday said its third-quarter loss narrowed as it booked smaller charges and revenue rose almost 27 percent. Sirius, the home of radio shock jock Howard Stern, finished the quarter with 18.5 million subscribers, down 2 percent from last year but up 103,000 from the second quarter. The company lost $149.2 million, or 4 cents per share, compared with a loss of $4.9 billion, or $1.93 a share, in the same quarter a year ago. The latest quarter included a $138 million charge to pay off a credit line extended by Liberty Media ... Read Full Story

Satwaves welcomes Overstock.com CEO Patrick Byrne of Deep Capture. Join us in discussing the currently regulatory environment and attacks on Sirius XM by Jim Cramer of The Street.com sirius | xm | satellite radio | siri | Patrick Byrne Read Full Story