Does this mean that I will get the Grateful Dead station on XM?

Merged satellite broadcasters adopt Sirius XM name
Washington Business Journal - by Jeff Clabaugh Staff Reporter

Nearly a year and a half after first announcing plans to merge, Sirius Satellite Radio Inc. and XM Satellie Radio Inc. have officially completed their merger.

The newly-formed company will change its corporate name to Sirius XM Inc., which will be led by Sirius CEO Mel Karmazin. XM Chairman Gary Parsons will serve as chairman of the new company.

Sirius XM will be headquartered in New York, where Sirius is based. XM Satellite will now be a wholly-owned subsidiary of Sirius and will keep its Washington broadcasting headquarters, Sirius XM said in a statement.

XM shareholders will receive 4.6 shares of Sirius common stock for each share of XM. XM shares no longer trade on the Nasdaq National Market.

The value of the all-stock merger has declined from more than $4.6 billion when it was first announced to just $2.76 billion at closing, following the declining value of both companies’ stock.

"We have worked diligently to close this transaction and we look forward to integrating our best-in-class management teams and operations so we can begin delivering on our promise of more choices and lower prices for subscribers," said Karmazin in a statement.

Sirius XM says existing customers of either service will be able to retain their current service and existing radio receivers will continue to work. Subscribers will also now have the option to pick from different packages of channels, known as a la carte programming.

Sirius XM reiterated its forecast of an expected $400 million in savings next year because of the merger.

Its stock (NASDAQ: SIRI) was down 23 cents to $1.65 in afternoon trading.