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Exhibit
99.1
XM Shareholders Vote to
Approve Agreement with Sirius
WASHINGTON, Nov. 13
/PRNewswire-FirstCall/ – XM Satellite Radio Holdings
Inc. (NASDAQ: XMSR) reported at the conclusion of its special
meeting of stockholders today that its stockholders have voted to
approve the previously announced merger with Sirius Satellite Radio
Inc. (NASDAQ: SIRI). The preliminary tabulation indicates that 99.8
percent of the shares voted were cast in favor of the
transaction.
“Today’s vote is the latest
demonstration of the strong support for our merger from a wide
range of individuals and prestigious organizations who recognize
the benefits that a merger will bring to consumers,” said
Gary Parsons, Chairman of the Board, XM Satellite Radio. “We
are proud to have received support for our merger from
organizations representing African Americans, women, rural
Americans and Hispanics, as well as from former FCC Chairmen and
Commissioners and a diverse group of elected officials. We
appreciate our shareholders’ overwhelming
support.”
Under the terms of the merger agreement
with Sirius, XM stockholders will receive 4.6 Sirius shares for
each XM share that they hold.
The merger remains subject to regulatory
approval by the U.S. Department of Justice and the Federal
Communications Commission. We remain optimistic that the merger
will be approved by the end of the year.
More information on the XM-SIRIUS merger
can be found at http://www.xmmerger.com/ .
About XM
XM is America’s number one
satellite radio company with more than 8.5 million
subscribers. Broadcasting live daily from studios in Washington,
DC, New York City, Chicago, the Country Music Hall of Fame in
Nashville, Toronto and Montreal, XM’s 2007 lineup includes
more than 170 digital channels of choice from coast to coast:
commercial-free music, premier sports, news, talk radio, comedy,
children’s and entertainment programming; and the most
advanced traffic and weather information.
XM, the leader in satellite-delivered
entertainment and data services for the automobile market through
partnerships with General Motors, Honda, Hyundai, Nissan, Porsche,
Subaru, Suzuki and Toyota is available in 140 different vehicle
models for 2007. XM’s industry-leading products are available
at consumer electronics retailers nationwide. For more information
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