Karmazin Confident of Merger; Sirius Shares Still Stumble

Mel Karmazin reiterated his prediction that the Sirius-XM merger, still undergoing regulatory review, will be completed by year’s end. Better than expected subscriber growth did not, however, overcome the fact that revenues were $241.8 million, below the $244.3 million estimate by analysts polled by Thompson Financial. At post time Sirius shares are down 25 cents, or 7 percent to $3.37.