Since the other thread got bombed, and I'm determined to keep it going...
The DOJ has approved the merger, and now we're waiting the idiots from the FCC. As usual, Congress is right on the pulse of things (from the WSJ Blog):
Let me get this straight...you'll give your "approval" if the companies allow consumers to receive satellite via other devices? Like maybe in-dash radios, or receivers that tie in directly to your existing car stereo, or maybe even an in-home option that is included with your receiver? Oh wait, they already have those. Idiots.
The DOJ has approved the merger, and now we're waiting the idiots from the FCC. As usual, Congress is right on the pulse of things (from the WSJ Blog):
Quote:
| It is hard to pinpoint an exact moment at which Congress reaches the pinnacle of grandstanding, but here is a good candidate: Thursday's comment from two House members about the benighted XM Satellite Radio Holdings Inc. (XMSR)-Sirius Satellite Radio Inc. (SIRI) merger. House Democrats John Dingell of Michigan and Edward Markey of Massachusetts earlier Thursday asked the Federal Communications Commission to require the two satellite radio companies to meet certain conditions if the agency plans to approve the $4.5 Billion deal. What conditions, you may ask, are called for after the Department of Justice already has approved the combination with no conditions? Well, in a letter today, according to our colleagues at Dow Jones Newswires, the Congressmen "urged the FCC to require the merged company to adhere to at least the pricing conditions that XM and Sirius have already publicly pledged to do." Right. Thanks, Congress. And for this you get $165,000 each a year? Luckily for Markey and Dingell, there was another, more interesting condition they asked for: to require the merged company to allow consumers to access satellite service through other radio devices. Right now, consumers have to buy special devices from the companies themselves to get satellite radio. And who knows? It has been 14 months of dragging this deal around since the Feb. 19, 2007. XM and Sirius recently have taken to extending the merger deadline by two-week increments to keep hope alive. They may just be exhausted enough to agree to anything right now. |








