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The merger of satellite radio companies XM and Sirius Satellite Radio was officially closed on Tuesday, with the combined company now taking the name “Sirius XM Radio, Inc.”
The new company, as expected, will be based in New York, and Sirius CEO Mel Karmazin will lead the combined firm.
According to the Associated Press, the combined company almost immediately faced questions from shareholders who question whether it can handle its more than $3 billion in debt, leading to a stock drop on Tuesday.
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