Sirius-XM seeks global expansion
North American pay-radio operator Sirius-XM, and with Liberty Media already having made a formal offer to acquire the 60 per cent of the business that it doesn’t own, is planning for a global presence.
CEO Jim Meyer told analysts that it was talking to a number of car manufacturers and OEM radio suppliers. “There’s virtually no auto company left today that’s not competing on a worldwide basis. And certainly all of the big ones are. Our vision, and what we’ve shown working hardware of, is a platform that combines satellite and LTE in the North American markets and then allows the satellite portion to be easily uncoupled everywhere else in the world, at virtually no cost premium to do that.”
Meyer told an analyst from Macquarie that he was looking hard at potential acquisition targets that would expand Sirius-XM’s reach. “Over time we’d like to expand our footprint on an international basis. We want to do that slowly and carefully, and we want to do it along with the OEMs, not just charging out on our own.”