Satellite radio companies Sirius and XM finally completed their merger today, combining their powers to form Sirius XM Radio Inc. The FCC narrowly approved the deal, which was first announced in March 2007, last week following a 3-2 vote for approval. Eventually, Sirius listeners will have access to XM's Bob Dylan Theme Time Radio Hour and XM listeners will finally get an earful of Sirius' prized jewel, Howard Stern. The merge is expected to save the new company roughly $400 million and result in around $300 million in earnings. The merger also came with a three-year price cap, meaning the pay rates won't increase until 2011. A la carte and new programming packages are expected out within a few months, with interoperable receivers due out in roughly nine months. Under the merger, the new company must devote 4% of its channels to educational programming.
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