Sirius and XM could merge in next 18 months - report

Sirius and XM, the two listed satellite companies could merge soon, reported the New York Daily News. The report, citing Stifel Nicolaus analyst Kit Spring, reported the two companies could merge over the next year-and-a-half. According to the report, the combined company would have a USD 7bn value and could cut costs by USD 650m annually.
Sirius is based in New York and XM is based in Washington DC.