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Radio, Music Mergers Show Digital Arena Crowded
The urge to merge within both the recording and satellite radio industries this week reflects how tough it is to compete profitably within the evolving digital media market. Struggling satellite radio operators XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. announced a proposed $4.9 billion merger and Warner Music Group Corp. this week said it had approached Britain’s EMI Group Plc about a possible takeover bid in the latest twist in a seven-year mating saga between the two. The deals are seen as defensive reactions to an increasingly complicated digital entertainment market. “Both these potential deals in the… Read more »