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Sat Radio Merger Synergies: $400 Million in 2009
The new satellite radio company also reiterated guidance for the combined operation Tuesday.
Sirius XM said it expects to realize total synergies, net of the costs to achieve those synergies, of about $400 million in 2009. The company also projected that it will post adjusted EBITDA exceeding $300 million next year, and achieve positive free cash flow, before satellite capital expenditures, for full year 2009.
The company also said it expects that both synergies and adjusted EBITDA will continue growing beyond next year.
"We have all the tools necessary to begin executing as a combined company with high aspirations for subscriber growth and greater financial performance in part from the significant synergies that we begin realizing literally on Day One (Tuesday). We are moving quickly to integrate the operations," said the company's CEO, Mel Karmazin.
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The new satellite radio company also reiterated guidance for the combined operation Tuesday.
Sirius XM said it expects to realize total synergies, net of the costs to achieve those synergies, of about $400 million in 2009. The company also projected that it will post adjusted EBITDA exceeding $300 million next year, and achieve positive free cash flow, before satellite capital expenditures, for full year 2009.
The company also said it expects that both synergies and adjusted EBITDA will continue growing beyond next year.
"We have all the tools necessary to begin executing as a combined company with high aspirations for subscriber growth and greater financial performance in part from the significant synergies that we begin realizing literally on Day One (Tuesday). We are moving quickly to integrate the operations," said the company's CEO, Mel Karmazin.
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