Sirius XM (SIRI) Stock Closed Higher Following Headline News Channel Plan

NEW YORK (TheStreet) -- Shares of Sirius XM  (SIRI) closed up 0.13% to $3.82 on Thursday following the announcement of its partnership with Twenty-First Century Fox  (FOXA) to launch a new national headline news service and full-time satellite radio channel, Fox News Headlines 24/7, the companies said.

The channel will deliver "up-to the-minute headlines, breaking news, on-scene reporting, news from the world of business, entertainment, sports, and more," the companies stated.

The partnership is a multi-year agreement and the new channel will extend Fox News' reach on Sirius XM. 

In addition, the headlines channel will be produced by a team of Fox News journalists and contributors and is expected to launch in the fall of 2015 to all Sirius XM subscribers on channel 115, the companies noted.

On Thursday, shares of Twenty-First Century Fox closed down 0.06% to $32.96.

Separately, TheStreet Ratings team rates SIRIUS XM HOLDINGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate SIRIUS XM HOLDINGS INC (SIRI) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, increase in net income, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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