In a press release issued today, Sirius and XM outlined retailers and auto manufacturers that have come out in support of the merger between Sirius and XM. The merger, which was announced February 19th of this year is in the final stages of regulatory decisions. If approved, Sirius and XM expect to close the merger by the end of 2007.
Comments from retailers and auto manufacturers include:
"...the merger will bring greater vitality and financial resources to this upstart technology. Allowing this to happen will, in turn, spark a new generation of services and products with more advanced and user-friendly features. Consumers, of course, will be better off as a result." -- Julian C. Day, Chairman and CEO, RadioShack Corporation
"Based on our longstanding expertise in both the home and car audio entertainment business, we strongly believe that this merger will be beneficial to consumers. In fact, we believe that it is critical for the continued growth of this medium." -- William G. Crutchfield, Jr., CEO and Founder, Crutchfield Corporation
"Circuit City believes that the FCC should allow Sirius and XM to implement their plans to make satellite radio a stronger competitor, and provide improved product and service to consumers, by approving their applications in this proceeding." -- Philip J. Schoonover, Chairman, President and CEO, Circuit City Stores, Inc.
"We are informed that as a result of the proposed merger satellite radio customers will be able to select packages of fewer channels at lower prices. If these enhanced options in fact become available, satellite radio subscribers stand to benefit as entertainment choices would increase and overall pricing would become more affordable." -- George S. Cary and Michael R. Lazerwitz, [on behalf of] Toyota Motor Corporation
"We believe that efficiencies realized from the merger will benefit our customers in other ways, as well. For example, the merged company will likely improve upon current in-vehicle services that support the driving experience, such as traffic and weather, and promote the introduction of exciting new services. It will also provide a more robust and stable platform for satellite radio generally, and maximize its prospects for success in the increasingly competitive market for audio entertainment services." -- Wayne Killen, Director, Product Planning, Hyundai Motor America
"While American Honda has seen early promise in this collaboration, it has become evident that satellite radio and digital satellite services must compete mightily in the U.S. with a wide array of burgeoning entertainment forms and an ever-widening list of technology participants who are delivering services in this space." -- Charles Koch, Manager American Honda Product Planning, American Honda Motor Co. Inc.
Position - Long Sirius, Long XM, No Position on retailers or auto manufacturers mentioned.