Looks like everyone needs to weigh in on the Department of Justice approving the Sirius-XM merger. Next up to the plate: The RIAA.

Mitch Bainwol, Chairman & CEO of the fan-favorite organization, decided to spin the situation to include the performance royalty argument with terrestrial radio...

"The merger's approval serves as a powerful validation that competitors should play by the same set of rules. On the heels of this decision, the logic for a performance right for terrestrial radio has never been clearer. Terrestrial radio - unlike satellite, Internet and cable radio - continues to reap special interest subsidies in the form of free government spectrum and an outdated exemption from compensating artists and record companies. It's time for that to change and for Congress to provide an economic marketplace where there is parity amongst all delivery platforms."

And while I disagree my blogging colleague Mark Ramsey on the whole issue of performance royalties for all forms of radio, I do agree with his feelings that these two issues are completely unrelated.

Photo courtesy of icanhascheezburger.com

Ouch, that's got to hurt. Just as Sirius and XM edge closer to finalizing their own merger, the Wall Street Journal is now reporting that Clear Channel Communications Inc. is having trouble closing their own.

Indeed, they're saying it's nearing a complete "collapse."

According to WSJ sources, the private equity firms behind the deal (Thomas H. Lee and Bain Capital Partners LLC) and the banks financing it have failed to resolve their differences over the terms of the credit agreement. Those banks are Citigroup, Morgan Stanley, Deutsche Bank, Credit Suisse, RBS and Wachovia.

"The sponsors do not want to do this deal," said one person involved, referring to the private equity firms. "No one wants to do this deal except for the seller."

Aw shucks.

[Wall Street Journal]