Jr · #1 (**permalink**) 30th July 2008, 08:14 PM

Make Way for Sirius XM Radio

It's now official.

On Tuesday, Sirius and XM announced that they have completed their merger, changing the corporate name to Sirius XM Radio Inc. and announcing that the combined company's stock will be traded on the NASDAQ Global Select Market under the symbol "SIRI."

Trading of the "XMSR" common stock on NASDAQ ceased Monday. The new satellite radio company said XM shareholders will receive 4.6 shares of Sirius common stock for each share of XM.

Sirius XM Radio has more than 18.5 million subscribers. Based on those pay subscribers, the company said it considers itself the second largest subscription media business in the nation.

The satellite radio company's corporate headquarters will be located in New York. XM Satellite Radio, the company's wholly-owned subsidiary, will remain headquartered in Washington, D.C.

Late Friday, the Federal Communications Commission cleared the merger, providing the satellite radio companies the final regulatory approval they needed in order to combine operations.

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