The hearing before a NASDAQ Listing Qualifications Panel stays all action by NASDAQ. Under NASDAQ’s current Listing Rules, the Panel may grant the Company up to an additional 180 days from the date of the staff’s most recent notification of non-compliance, or through September 13, 2010, to comply with the NASDAQ bid price requirement. The Company does not expect to receive a written decision of the Panel for up to 45 days following the hearing.

The Company intends to take all necessary steps to maintain the listing of its common stock on The NASDAQ Global Select Market. The Company’s stockholders have granted the Company’s board of directors the discretion to effect a reverse stock split, which would bring the Company into compliance with the NASDAQ bid price requirement. While the authority granted to the board expires on June 30, 2010, the Company will seek approval from stockholders at its upcoming annual meeting to extend that authority through June 30, 2011. The board of directors intends to effect the reverse stock split only if it determines the action to be in the best interests of stockholders.

“SIRIUS XM is one of the most liquid securities on The NASDAQ Global Select Market; we have a large investor base consisting of both individual and prominent institutional stockholders; and our equity capitalization is greater than approximately 92% of the companies listed on The NASDAQ Global Select Market. We are committed to remaining listed on The NASDAQ Global Select Market,” said Mel Karmazin, Chief Executive Officer of SIRIUS XM.

SIRIUS XM has an equity capitalization of over $5.8 billion and an enterprise value of nearly $8.8 billion. In 2009, the Company had revenue of over $2.5 billion. Over 3.7 billion shares of the Company’s common stock are available in the public float.

In addition, the NASDAQ OMX Group, Inc. has announced that the Company’s common stock will be added to the NASDAQ Q-50 Index effective with the market open on Monday, March 22, 2010. The Q-50 Index is designed to track the performance of the fifty securities that are next in line to replace the securities currently included in the NASDAQ-100 Index.

The Company intends to take all necessary steps to maintain the listing of its common stock on The NASDAQ Global Select Market. The Company’s stockholders have granted the Company’s board of directors the discretion to effect a reverse stock split, which would bring the Company into compliance with the NASDAQ bid price requirement. However, the board of directors intends to effect the reverse stock split only if it determines the action to be in the best interests of stockholders.

Under NASDAQ’s current Listing Rules, the Panel may grant the Company up to an additional 180 days from the date of the staff’s letter, or through September 13, 2010, to comply with the NASDAQ bid price requirement.

I was going to write a long rant about this stock but I thought I would just let the above image do all of the speaking for me. I just want to know when Mr.Karmazin is going to say something about this situation? Now I know these are some tough times for the market right now but this has been going on for the past few months.

I will admit I’m no expert on Stocks but this stock has been a major disappointment.

Mr.Karmazin if you are reading this please say something to your Shareholders! We invested in your company because we believed in not only the service that you provide but also all the great things that you and others said before this merger happened. Now a few months into it no one is talking and no one is doing anything about it.

Do you need a Bailout?

Hello?

I would love to hear what other Sirius XM Stock holders have to say about this!

Just a short post. So much for this stock rising after the merger. Right now Sirius XM Radio is at 0.97 and falling.

I wonder if Mr.Karmazin is going to say anything to investors, or if he is just going to continue to let the ship sink to the bottom of the ocean?

There is rumor of a Reverse Split going around, I wonder where this stock will be by Years End.

Was this Merger still a good idea? I’m starting to think they should have stayed separate companies, maybe they could have been bought out by a more stable corporation.

Oh well only time will tell.

From what I have heard there are reports that Mel bought 2 Million shares of Sirius Stock today at $1.37 a share. I guess he wanted to show investors that he believes in the company. The good news is that Sirius XM Radio is up in the after hours but it’s still dropping like a dead weight.

Hopefully Mel’s actions encourage people to invest in the company. I believe Sirius XM Radio has a bright future. Things are rough right now but I see things getting better.

Sirius XM Radio closed at $1.39 today.

Here is the Video:

The waiver provides that, promptly following the closing of the
merger, XM will commence an offer to exchange the 9.75% Notes for a
combination of at least $400 million of cash and up to $200 million
aggregate principal amount of a new series of senior notes to be issued
by XM. The waiver is subject to the consummation of the merger and the
satisfaction of certain conditions in connection with various other
merger-related refinancing transactions to be undertaken by XM prior to
August 31, 2008. If the merger and the satisfaction of such other
conditions have not occurred by August 31, 2008, the waiver, unless
extended, will cease to be effective.

The exchange notes will mature in 2014, or 2013 in certain
circumstances. The yield to maturity on the exchange notes (calculated
solely on the basis of interest rate on the exchange notes and the
price at which they are offered in exchange for 9.75% Notes) will be
calculated on the basis of the selling price of and interest rate on
certain other senior notes expected to be issued by XM in connection
with its merger-related refinancing transactions. The effective yield
on the exchange notes will not be less than 13.92% per annum. In the
event that XM issues less than $150 million aggregate principal amount
of other senior notes in connection with its merger related refinancing
transactions, the effective yield on the exchange notes will not be
less than 15% per annum.

The senior notes expected to be issued by XM will not be registered
under the United States Securities Act of 1933 and may not be offered
or sold in the United States absent registration or an applicable
exemption from registration requirements.

Nothing in this press release should be construed as a solicitation
of an exchange or offer to purchase, or an offer to sell, any of XM’s
or XM Satellite Radio Holdings Inc.’s securities. Any offer to
exchange, purchase or sell any of XM’s or XM Satellite Radio Holdings
Inc.’s securities will be made only upon the terms and conditions set
forth in an offering document related thereto.

Right now Sirius is at 1.99 and Xm at 8.28 per share.

The only thing I can suggest for Current stock owners is to stick it out, I believe we will hear about the merger soon. It’s a shame a company like Goldman Sachs can have this much of an effect on stock prices.

On a good note Cowen & Co totally disagree with Goldman and have nothing but positive comments on the pending merger.

Read the Article Here

Maybe they know something we don’t? Hopefully this is good news.

[Via:Cnn.com]

Citi analyst says, “Satellite radio should continue to change the audio
entertainment industry and gain share as its proves to be fresh (no
need to create play lists or buy MP3s), original, cost effective, and a
simple way to access premium/long tail content that can not be
supported via radio or MP3 models. Given the highly fixed cost base of
the companies, we view the sub growth as the key driver of the stocks
and we see the industry having up to 55 million subsripts by 2011
(+33.3% CAGR)…70% Merger Probability – We believe that the proposed
merger between SIRI and XMSR will drive significant costs savings (we
forecast ~$500 mil by 2010 or 13% of the expense base) and potential
revenue synergies of another $400 million.”

I’m not going to comment on this story because we have heard things like this in the past and right now it is just another rumor for this ever evolving merger.

Investors are anxiously waiting for the Department of Justice and
the Federal Communications Commission to approve the $5 billion deal
for Sirius to acquire its rival. The companies had originally hoped to
receive clearance by the end of 2007.

On Thursday, Janco Partners
analyst April Horace raised her rating of XM shares to “Buy” from
“Accumulate” on her assumption the deal will eventually close. She also
upgraded her rating of Sirius shares to “Accumulate” from “Market
Perform.”

Horace estimated that the combined companies could achieve cost savings of $4.1 billion over the next 6 years.

“It
remains to be seen whether or not the DOJ approval will arrive before
Sirius reports its financial results, sometime in the second half of
February,” Horace said in a note to investors. She noted that the
companies have an option to cancel the deal without penalty if it does
not win regulatory approval by March 1.

“We believe that the DOJ
will make an announcement before March 1, and that the companies will
extend the March 1 date if they are still waiting for FCC approval,”
the analyst said.

Shares of Sirius jumped 14 cents, or 4.6
percent, to close at $3.20 on Thursday. The stock has traded between
$2.51 and $4.06 during the past 52 weeks. Shares of XM Satellite Radio
Holdings Inc. gained 49 cents, or 4.1 percent, to close at $12.40.
During the past 52 weeks, the stock has traded between $9.62 and $16.44.

[Via:AP]

This news should only make the two stocks climb higher.

Still like every other day waiting for this merger to happen it’s all speculation until there is an official announcement.

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