Sirius, XM Complete Merger

July 29, 2008

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Sirius Satellite Radio and XM Satellite Radio, commonly heard in long-haul truck cabs, announced that they have completed their merger, and will change the corporate name to Sirius XM Radio Inc.

Sirius XM Radio begins day one with over 18.5 million subscribers, making it the second-largest radio company, based upon revenue, in the country; and, based upon subscribers, the second largest subscription media business in the U.S.

The new combined Sirius XM Radio broadcasts more than 300 channels of programming, including two trucking channels, and exclusive radio offerings from the likes of Howard Stern, Oprah, Opie & Anthony and Martha Stewart.

As a result of the merger, Sirius XM Radio will also be able to offer consumers new packages in audio entertainment, including the first-ever a la carte programming option in subscription media. In addition to two a la carte options, the new packages will include: "Best of Both," giving subscribers the option to access certain programming from the other network; discounted Family Friendly packages; and tailored packages including "Mostly Music" and "News, Talk and Sports." The first of the new packages will be available in the early Fall.

As promised when the merger was first announced, existing radios will continue to work and every subscriber has the option of maintaining their current service package.

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

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