Sirius XM & Hyundai Extend Relationship, ZAGG Okays Buyback: Consumer Business Update
Sirius XM Radio (NASDAQ:SIRI) and Hyundai Motor America (HYMLF.PK) have reached an agreement that extends SiriusXM’s partnership with Hyundai for three years, which includes a provision for a further extension through August of 2017. Through the terms, Hyundai customers will receive a 3-month SiriusXM subscription with the purchase of any new Hyundai vehicle with a factory-equipped satellite radio.
ZAGG INCORPORATED (NASDAQ:ZAGG) said Thursday that its board has okayed a share buyback program through which it may repurchase as much as $10 million of its outstanding common stock from time to time on the open market. The company is a leading mobile device accessories producer.
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On Thursday Sotheby’s (NYSE:BID) said that its board has unanimously elected President and Chief Executive William F. Ruprecht as Chairman of the Board of Directors. The current Chairman of the Board Michael I. Sovern, who has served for 13 years, will remain on the Board. In addition, Steven B. Dodge was unanimously okayed by the board as Lead Independent Director. The new appointments are effective immediately.
A potential all-stock merger between US Airways Group (NYSE:LCC) and AMR Corporation is the preferred outcome by bankruptcy creditors, say knowledgeable sources to Reuters, who explained that the group would rather have stock than cash, because the creditors want to collect the full upside from the merger.