Sirius and XM Merger Still Under Fire
March 6, 2007 12:00 AM
comment(s) - last by
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.
This article is over a month old, voting and posting comments is disabled
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.
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
Sirius and XM to Merge in $13 Billion Deal
February 19, 2007, 4:07 PM
Latest By Tuan Nguyen
New iPhone Firmware 1.1.2 Hacked Before Release
November 9, 2007, 4:53 PM
Facebook Source Code Leaked
August 13, 2007, 10:00 PM
Apple Announces New iMacs and Accessories
August 7, 2007, 2:21 PM
NBC Mole Busted at Annual Hacker Convention
August 6, 2007, 5:20 PM
Report: Intel Reaped $60 Billion in Monopoly Profits
August 5, 2007, 3:18 PM
SoundExchange Talks to Webcasters About a New Royalty Plan
July 16, 2007, 5:04 PM
Sunday, The Beginning of the End for Internet Radio
July 13, 2007, 4:24 PM
Sony Sues Rootkit Developer Over Faulty Music CDs
July 12, 2007, 5:00 PM
Apple Sued for Artistic Copyright Infringement
July 5, 2007, 4:10 PM
Asustek to Split Company in January
July 3, 2007, 1:33 PM
IBM Workers Strike Over Terms of Deal That Will Have Them Working for Lenovo
March 6, 2014, 9:29 AM
Google Picking Up Artificial Intelligence Company "DeepMind" for $400 Million
January 27, 2014, 9:25 AM
Quick Note: Qualcomm Grabs up Palm, IPAQ, and Bitfone Patent Portfolio from HP
January 24, 2014, 9:18 AM
Verizon Buys Intel Media OnCue Cloud TV assets
January 21, 2014, 10:26 AM
Google's First Asian Data Centers Now Operational
December 11, 2013, 8:50 AM
IBM to Offer Watson Supercomputer as Cloud Development Platform
November 14, 2013, 12:00 PM
Most Popular Articles
Bitcoin King Pt. II: Mt. Gox's Dictator Karpelès Proves Tragically Flawed
March 7, 2014, 1:12 PM
Hack Reveals Fallen Bitcoin CEO's Posh Tokyo Penthouse
March 10, 2014, 4:28 PM
NASA Considering SpaceX "Red Dragon" for Returning Mars Samples to Earth
March 10, 2014, 2:43 PM
India Could Rock Google With Its Biggest Antitrust Fine Yet -- $5B USD
March 10, 2014, 8:12 PM
Sony, Panasonic Announce Archival Disc Standard Coming in 2015
March 10, 2014, 8:50 AM
Latest Blog Posts
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information