XM: Merger Could Close by Year-End - Radio World

XM: Merger Could Close by Year-End

Executives for XM said comments filed to the commission about their merger proposal are running 4 to 1 in favor.
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Executives for XM said comments filed to the commission about their merger proposal are running 4 to 1 in favor.

They believe the merger is on track to close by the end of this year or early next.

Their 1,000-page filing to the commission refutes some of the "misinformation" from NAB about their merger proposal, said CEO Hugh Panero, whom the company this week also announced will leave shortly.

Asked about the timing of his departure, Panero said he thought this was the right time. "As with any merger, there can be only one CEO. It was pretty obvious the CEO’s slot would be taken by Mel."

Sirius President/CEO Mel Karmazin would head the merged company if regulators approve the transaction.

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