Broadcasting industry news provided by Financial News USA (OTC: FNWU). Seeking to further define itself just over a year after its split with sister company Viacom, CBS Corp. (NYSE:CBS) on Tuesday said it has established a separate unit for its fast-growing DVD business, which will be called CBS Home Entertainment. CBS Home Entertainment will be a part of the company's newly-created CBS Consumer Products Group, under the umbrella of CBS Television Distribution. Shares of satellite radio operators XM Satellite Radio Holdings Inc. (Nasdaq:XMSR) and Sirius Satellite Radio Inc. (Nasdaq:SIRI) rose Friday, on speculation that the companies might merge or combine in another way. Sirius Satellite shares added 18 cents, or 4.6 percent, to $4.08 on the Nasdaq, where it has traded between $3.50 and $6.51 in the past 52 weeks.
A Bank of America analyst on Tuesday cut his rating on XM Satellite Radio Holdings Inc. (Nasdaq:XMSR), while a JP Morgan analyst lifted ratings on both XM and its rival Sirius Satellite Radio Inc. Shares of XM rose 12 percent last week, while Sirius added 8 percent, on speculation the competing satellite radio operators are considering a merger. Jonathan A. Jacoby in a client note cut XM Satellite to "Neutral" from "Buy," saying he believes the intrinsic value of the each company, independently, is lower than what others estimate. U.S. Starcom, Inc. (OTC: USTA) recently announced that it has entered into a joint venture agreement with Leading Edge Benefits Corp, a private developer of pre-paid discounted health care programs aimed primarily at the Hispanic marketplace. Leading Edge executives have spent hundreds of thousands of dollars developing the platform to deliver these products, which offer exceptional value to consumers without health insurance, or with insurance that has high deductibles.
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