This excerpt taken from the SIRI 8-K filed Sep 9, 2008.
We have made great strides over the last six weeks and continue to make progress integrating the company and delivering on our promises to customers and stockholders, said Mel Karmazin, CEO of SIRIUS XM Radio. We are finding significant cost savings on every line item of the P&L and are beginning to realize these synergies already. SIRIUS XM also continues to be one of the strongest growth stories in media, with pro forma revenue growth of approximately 17% in 2008.
Today, the company also announced the content line-up for SIRIUS XMs new Best of Both programming options. As part of Best of Both programming, most current XM customers will continue to receive their existing XM service, and be able to obtain select SIRIUS programming. Likewise, most current SIRIUS customers will continue to receive their existing SIRIUS service and be able to obtain select XM programming. In addition to their existing service, SIRIUS and XM subscribers will be able to purchase the following channels:
Included on the Best of XM on SIRIUS will be such shows as Basketball and Beyond, hosted by Duke and Olympic basketball coach Mike Krzyzewski; Andretti Green, with driver Danica Patrick; 60/20, a sports magazine show by Luke Russert and James Carville; Indy Racing League car races; and games from the top college conferences, including the PAC 10, SEC, Big 10, Big 12, Big East and ACC.
Karmazin stated, We have been working closely with our content providers since the day the merger closed and have made significant progress in those discussions. The resulting Best of Both options we are outlining today represents another step towards fulfilling our promise of more choices and lower prices for our subscribers. We are very excited to begin offering existing and prospective listeners access to even more compelling programming and new packages.
Best of Both programming will be available to satellite radio consumers beginning October 6, 2008 on most existing satellite radios at a monthly cost of $16.99. Also, the companys full slate of new packages will be available to consumers on Oct. 6, including the opportunity to choose programming on an a la carte basis for the first time ever in subscription media.