SiriusXM merging with iHeartMedia?!

[kingchuck69]

SiriusXM, iHeartMedia Eye Merger, With Irving Azoff and Apollo in Mix

Insiders say music industry mogul Irving Azoff and Apollo Global Management are consulting on the deal.

www.hollywoodreporter.com

Remember, Stern was dumped by iHeart (fka Clear Channel) over the Janet Jackson nip slip. He claimed that iHeart owed him millions.

Talk about interesting....

 

[Channel98]

Interesting indeed. The two companies would gain access to each other's podcasts and personalities. Shares of iHeartMedia – which owns 885 radio stations (including FM translators) – closed today at 5.42. Shares of SiriusXM closed at 26.61.

 

[Kryptonite]

iHeartSiriusXMPandoraStitcher and isn't there something else in there too?

Remember that XM once had a lot of terrestrial stations too.

 

[Madison]

Interesting indeed. The two companies would gain access to each other's podcasts and personalities. Shares of iHeartMedia – which owns 885 radio stations (including FM translators) – closed today at 5.42. Shares of SiriusXM closed at 26.61.

I remember around 2009 or 2010 the SXM stock price was .10. If I would have invested $1000, I would calculate that it would be 10000 shares which would now be 266000. I did think about it at the time because I believed in the product. I just didn't know how to go about buying it and finding that the stock would be an authentic sale

 

[Channel98]

Shares of XM Satellite Radio were 12.24 at the beginning of 2008. Then came the merger with Sirius, the financial crisis, a near-bankruptcy and a bailout by Liberty Media. At the end of 2008, shares of SiriusXM were 0.55, down 96% for the year. On February 11 2009, shares hit a low of 0.49.

Shares are now 26.61. You ask why the share price has risen so dramatically? Well, it really hasn't. On September 10 2024, SiriusXM executed a 1-for-10 stock split. For every ten shares an investor held, he would receive one new share equal in value. Before the split, shares were 2.67. After the split, shares c;losed at 27.09.