April 17, 2007 / 2:28 PM / 12 years ago

Sirius CEO repeats XM deal to yield lower prices

NEW YORK, April 17 (Reuters) - Sirius Satellite Radio Inc. (SIRI.O) Chief Executive Mel Karmazin on Tuesday reiterated that a planned combination with rival XM Satellite Radio Holdings Inc. XMSR.O would yield lower-priced alternatives for subscribers.

In a statement detailing Karmazin’s planned testimony before a U.S. Senate committee today, Karmazin said: “The merger will allow us to lower prices. Consumers who want fewer channels than currently offered will be able to select one or more packages of channels for less than $12.95 per month.”

Sirius plans to buy XM in an all-stock deal which was worth about $4.6 billion when it was announced in February, but the merger has been criticized by some U.S. lawmakers and consumer groups as anti-competitive.

((Reporting by Franklin Paul, editing by Gerald E. McCormick; Reuters Messaging: Franklin.Paul.reuters.com@reuters.net; email Franklin.Paul.reuters.com; Tel: +1 646 223 6195)) Keywords: SIRIUS XM/

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