The U.S. Federal Communications will act soon on Sirius Satellite
Radio’s proposed purchase of rival XM Satellite Radio, the chairman of
the FCC said on Thursday.
In an interview on CNBC television, FCC Chairman Kevin Martin said
the XM-Sirius deal raised difficult regulatory issues. But he noted the
companies had agreed to concessions and said the agency “will hopefully
be able to do something on it soon.”
The merger would bring entertainers such as Oprah Winfrey and shock
jock Howard Stern under the same banner. It has been criticized as
anti-competitive by the traditional radio industry, and by some U.S.
lawmakers.
Antitrust authorities at the Justice Department approved the
combination in March after concluding it would not harm consumers. The
department said satellite radio companies face stiff competition from
traditional AM/FM radio, high-definition radio, MP3 players and audio
delivered by mobile phones.
Read the rest here.
Video Here.
I’m sure soon means 3-4 months to the FCC. It would be nice to hear the news by the end of the month.
The U.S. Federal Communications Commission may reach a decision on Sirius Satellite Radio Inc.’s proposed takeover of XM Satellite Radio Holdings Inc. by the end of June, Chairman Kevin Martin said.
“I still think the commission could act by the end of the
second quarter,” Martin told reporters at a press conference in
Washington today. The combination of the two U.S. pay-radio
companies wasn’t placed on the agenda for the commission’s
regular monthly meeting on June 12.
Commissioners are privately debating what conditions to
demand in exchange for approving the transaction. Some U.S.
lawmakers and interest groups are asking that the combined
entity allocate part of its spectrum to competitors including
minority-owned broadcasters, and that it be required to let any
manufacturer make receivers to boost consumer choice.
Martin declined to discuss details of the commission’s
deliberations.
The FCC isn’t required to vote by a specific date, and may
delay the matter beyond June if commissioners can’t reach a
decision. The U.S. Justice Department approved the combination
on March 24, saying competition from broadcast radio and
digital-music players would prevent price increases.
Via:Bloomberg
Could this really be happening? I’m not holding my breath but at least this is the most solid news I have heard from anyone, including the FCC yet.
I will be keeping my fingers crossed and my eyes open for any more news on this.
Posted by SXMN | Posted on 19-02-2008
Category : Uncategorized
Tags: FCC, kevin martin, Merger News, sirius xm merger news
Today is a big day for the merger. No it did not go through. Today marks one year since the merger was announced, and one year with no confirmation of it ever happening!
How exciting is that!
And to top it off Kevin Martin the FCC Chairman was quoted on the merger saying:
Sirius-XM: Traditionally the commission doesn’t act on those
after the Department of Justice –99 out of 100 times the Department of
Justice goes first and the Department of Justice hasn’t acted yet on
that merger. We have some more information we requested at the
beginning of the year from the companies so that we’re trying to
finalize our conclusions but we’re coordinating with Department of
Justice. I don’t have a timeline.
GREAT!!!!! No timeline!!!! The Chairman of the FCC has no timeline for the merger!
So he has no timeline for this merger but every other merger that the FCC is looking over has a timeline but Sirius and XM.
I love this country, I love the FCC………
Technorati Tags: sirius xm merger, fcc, kevin martin, sirius, xm
