Jonathan Adelstein will vote yes in exchange for merger conditions
The potential deciding vote in the U.S. government’s review of the
$3.1 billion merger between satellite radio companies told The
Associated Press he will vote in favor of the deal if the companies
agree to tougher conditions.
So far, two of the five members of
the Federal Communications Commission have voted to approve Sirius
Satellite Radio Inc.’s buyout of rival XM Satellite Radio Holdings Inc.
That is one vote shy of a majority.
FCC commissioner Jonathan
Adelstein, a Democrat, wants the companies to cap prices for six years
and make one quarter of their satellite capacity available for public
interest and minority programming, among other conditions.
If the executives agree, Adelstein told the AP that he will be in favor of the deal.
Adelstein
circulated his recommended conditions among the other four
commissioners Thursday. His proposal seeks more concessions than the
companies offered voluntarily one month ago. That offer led to FCC
chairman Kevin Martin’s recommendation that the deal be approved.
Robert
McDowell, a Republican, has since joined Martin in recommending
approval. Deborah Taylor Tate, also a Republican, is undecided and had
been considered the possible swing vote.
Adelstein has been a
vocal opponent of big media mergers, so his offer is somewhat
surprising. But with strong odds that Tate would eventually vote yes,
his move would make the deal more palatable for critics.
“It’s
critical that if we’re going to allow a monopoly, that we put in
adequate consumer protections and make sure they’re enforced,”
Adelstein said.
[Via: CNN Money]


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