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Sirius: Subscription much lower after merger

Wed Mar 7, 2007 4:15pm EST

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WASHINGTON, March 7 (Reuters) - The price of satellite radio offered by a merged Sirius Satellite Radio Inc. (SIRI.O) and XM Satellite Radio Holdings Inc. XMSR.O would be "significantly" lower than $26 a month, Sirius' chief executive Mel Karmazin said on Wednesday.

"There will be a significant discount," Karmazin told a House telecommunications subcommittee hearing.

When asked if the discount would be $10 or $2, Karmazin said it "looks closer to 10 than to two." Both XM and Sirius each charge subscribers $12.95 per month.

((Reporting by Rachelle Younglai in Washington: editing by Gunna Dickson; rachelle.younglai@reuters.com; Reuters Messaging: rachelle.younglai.reuters.com@reuters.net;

(202)-898-8411)) Keywords: SIRIUS CEO

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