Activity on the NASDAQ market has brought this company to the attention of our research team at STOCKWIRE.com. SIRIUS Satellite Radio (Nasdaq: SIRI).
May 31 - The League of Rural Voters urged the Federal Communications Commission (FCC) to agree on the merger between XM Radio (Nasdaq: XMSR) and SIRIUS Satellite Radio (Nasdaq: SIRI), noting that the collective entity would offer listeners in rural communities more programming options at lower prices than those currently available from the two companies separately.
"In many rural areas throughout America, commercial radio reception can be extremely limited. Satellite radio has offered listeners in rural areas a robust alternative with hundreds of specialized channels that meet the programming needs of rural America," said Niel Ritchie, the League's Executive Director.
Consolidation of the commercial, over-the-air radio industry over the last decade has left much of rural America behind in recent years, as locally-owned stations are replaced with corporate conglomerates producing homogenized content with so called local news and weather delivered from offices hundreds of miles away.
In announcing its support of the merger, the League also highlighted rural listeners who depend on satellite radio's emergency and public safety stations.
Satellite radio is often the best source of diverse music, talk, news, and sports in remote areas, as many other alternatives to terrestrial radio have yet to reach there. A successful merger of XM and SIRIUS creates even more programming options and provides a clear benefit to the many listeners living in rural America.
The League of Rural Voters was founded in 1985 as a non-profit organization dedicated to increasing the representation of rural people in the public policy making process. The League seeks to build awareness of the economic challenges facing rural communities while advocating for federal and state policies that focus government resources on education, health care and local and regional economic development.
Sirius Satellite Radio, Inc. provides satellite radio services in the United States. It offers commercial-free music channels that provide a selection of music genres, such as rock, pop, hip-hop, country, dance, jazz, Latin, and classical; and channels of sports, news, talk, entertainment, traffic, weather, and data content.
During pre-market trading shares are up .3% to $2.94 with over 100,000 in volume. The STOCKWIRE Research Team will continue to gauge the short and long term affects that this announcement will have on the company
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