Sirius and XM Merger Still Under Fire
March 6, 2007 12:00 AM
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The $13 billion merger may not go through
This week, formal Attorney General John Ashcroft voiced his opinion on the recent merger announcement from Sirius Satellite Radio and XM Satellite Radio. Mr. Ashcroft, along with the National Association of Broadcasters, is
very much against the merger of Sirius and XM
Alberto Gonzales, the current U.S. Attorney General, received a letter from Ashcroft this week detailing his opinion on the Sirius-XM merger. According to the letter, Ashcroft viewed the merger as a threat to consumers, indicating such things such as price hikes and lower quality services and products. Ashcroft even compared the merger to that of the attempted takeover of Echostar Communications and Hughes Electronics Corp.
The Sirius and XM's
final merger has not yet received grace from the Federal Communications Commission
(FCC). The entire deal will amount to roughly $13 billion USD, and will have shareholders from both companies owning roughly 50-percent of each company.
Despite all the hurrah about Sirius and XM however, both companies must still past the Department of Justice's anti-trust unit and an FCC investigation. What happens later is unknown, however, analysts predict that Sirius and XM will face an uphill battle for the merger.
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Hope this goes through..
3/6/2007 5:13:03 PM
otherwise they'll run each other out of business.
Thats why traditional broadcasters dont want the merger.
Neither company has actually MADE money yet, and if this falls through I'm guessing they never will.
Which ultimately means less choice for the consumer.
Ashcroft needs to pull his head out of his arse.
RE: Hope this goes through..
3/6/2007 10:23:18 PM
Why would people want to pay for something that is normally free? Especially with the price of iPods and MP3 players giving you quality music where radio stations can't broadcast. XM and Sirius will still have to competitive. Unlike Satellite TV where there are locations where there isn't any other options to choose from. You can still get an iPod for music and buy your music that you want to listen too.
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