Federal regulators may be nearing a decision in the merger of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. with the FCC leading the charge, according to firm Stifel Nicolaus.
We've all heard this ad nauseam over the recent months, but Stifel Nicolaus analyst Blair Levin writes in a recent research note this morning that he understands that the FCC is drafting a document to approve the deal. This may be an indicator that the DOJ will make their move soon as well, as presumable the agencies are coordinating their efforts.
"The FCC rumblings bolster our sense that the DOJ will likely clear the deal followed by FCC approval with conditions," writes Levin.
While the exact merger conditions are unknown, Levin thinks that the FCC could require some capacity to be leased to independent programmers. Hopefully the FCC is seriously considering Public Knowledge's proposals, and not Georgetown Partners' agenda.
"We think the critical FCC question is whether the two Democrats [Commissioners Copps and Adelstein], both of whom have expressed concerns about the merger, could be persuaded to vote for the deal if a leased-access condition were included," he writes.
[via Barrons]
FINALLY!!!
I hope in the next life I come back as agovernment employee...... jerk off for months, no accountability...... drag my feet... come in late.
Doing the "Work of the People" daily.
A pox on both their inept houses.
It will be done... soon.... soon..... wait for it... wait for it....
I was told Vince Foster was working on it but they are having trouble finding him.
I believe the decision will come up this century. I am 100% sure. Mark my words!
Won't believe it until I see it, but fingers crossed. Buy SIRI Jun08 5.00 Calls while they are still only $0.10...
Show me the money!
the nab will be pissed....................HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
the rape of a company for 2 dollars a share took an overnight decision....that basically took a company with 300b in assets and sold it to another company for 230m.
fair value on the sale of each units assets would net 7b+......
and they are taking 400 days to finish this one?
LOL
Everyone enjoy their 3 day weekend. Hopefully the "Merger Bunny" will leave something nice in our Easter baskets. :-)
PNess:
Brother you said it! I thought about that analogy yesterday. It really makes you wanna say, "WTF"?
I say that the FCC is going to pay Mel Karmazin to come work for them only if they are allowed to deny the merger and the Georgetown Partners and the NAB.
It will happen within days.
Please no more of these comments till there is something official. All these comments should be illegal because it is just one way for a guy to play with this stock and either drive it up or not. These analyst should be held accountable for their actions.
And yes I agree how was a company able to buy another for $2 when it was worth a lot more. How did the government let that happen but this one takes over a year.
Anonymous: I say that the FCC is going to pay Mel Karmazin to come work for them
I think Mel is going to join the FCC, and merge them with the Justice Department in order to find synergies and provide more meaningful and in depth review into potential mergers.
Long Live Mel.
Amen. Happy Easter everyone.
Amen. Happy Easter everyone.
Martin confirmed this at a press conference today. See the WSJ online article.
Regardless on whether or not this deal is "good," these two companies were owed a response a long time ago.
Shame on the FCC. I won't hold my breath for the FCC.
OK people, we can all feel sorry about the March calls that expired today and the many people that had hoped this deal would have been completed by now.
It has been so long now that someone may wonder if the latest extension from the companies is going to be enough for the government to rule.
I think that the government should have time limits for these kind of functions.
A draft? They should had a book written on this after all this time!
has howard said its true because until HE comments it's all lies
For WSJ subs the entire article is here:
http://online.wsj.com/article_print/SB120604671159252807.html
ill believe it when i see it as i have no faith in our govt, leaders or reps to do the right thing for the public as its the groups with $$ or race that control
@nab is weak
The picture of the satrad receiver forgot to include shitty HD Radio...
Now the decision might NOT come by the end of the quarter...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDEhJjjYckjk&refer=home
--------------
Federal Communications Commission Chairman Kevin Martin asked his staff to start drafting documents on the proposed combination of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. and said a decision may not come this quarter. The stocks rose.
Martin said he expected the FCC to rule after the U.S. Justice Department makes its decision. He commented on XM and Sirius, the only two pay-radio broadcasters in the U.S., at a press conference today in Washington.
``I'm not sure we'll make it by the end of the first quarter any longer,'' Martin said. ``I've got the staff drafting various options. I haven't figured out what I think we should do on it yet.''
Yeah, I feel bad for the investors that rushed in and overpaid for the stock today in the aftermarket without grasping the most important part of what Martin said...that it's not going to happen this month. They're just going to see it go down again later next week when nothing happens until at least April.
Bear Sterns has nothing to do with an XM/Sirius merger. To even bring it up is asinine. It is a completely different thing, not even remotely similar.
Good government is only worth what you're willing to pay for it.
Mel should have grease Congress more than the NAB did if he wanted better results.