Mel Karmazin said the Department of Justice is seeking more details on the proposed merger between Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc.
"They continue to ask for information," Karmazin said in an interview following a taping of "The Charlie Rose Show" on Tuesday.
"We still think the timetable will be in the fourth quarter," Karmazin added, though didn't specify what type of data is being sought.
The head of the DOJ's antitrust division, Thomas Barnett, told a congressional hearing last week he needed to know more before making a decision on the proposed combination of the only two satellite companies. He declined to give a timeframe, though said that DOJ wants to move "as quickly as possible."
On September 5th, Sirius and XM they had complied with DOJ requests for more information, causing analysts to predict that a decision on the merger could come as soon as October.
so this rumor about Oct. is probably wrong as t looks to be nov-dec decision as originally predicted
gary heres what sirius and xm have in the s4 on the time line
On April 12, 2007, XM and SIRIUS received from the Antitrust Division a request for additional information and material relating to the merger, generally referred to as a “Second Request”, under the Hart-Scott-Rodino Act. The effect of the Second Request is to extend the waiting period imposed by the Hart-Scott-Rodino Act until 30 days after XM and SIRIUS have substantially complied with the Second Request, unless that period is extended voluntarily by the parties or terminated sooner by the Department of Justice. On September 4, 2007, XM and SIRIUS each certified to the Antitrust Division that they were in substantial compliance with its Second Request.
Look, dammit.
In 2001 the only two satellite TV companies, Direct TV and Dish Network, tried to merge. The DOJ turned this down because it would result in a monopoly. Wasn't there competition from broadcast, cable, DVDs, and the internet then as well?
What exactly is the difference?
There should be no discussion, no argument, no meetings, no anything.
No merger. Period.
Actually, DirecTV and Dish should have been allowed to merge. Why they were not allowed to do so is simple. SCUMBAG POLITICS as usual. A subscription service will never become a monopoly anyway. If the prices get high, people cancel. It is that simple. There is no monopoly in luxury items people.
I have DirecTV and I can get cable if I wanted to and I will if they raise prices to a point where I see no more value in subscribing to satellite. Everything has a way of finding its price in the market.
Take the iPhone for example, 2 months after selling for $700 a pop, the price is reduced $200 because they can't sell them. 3 months from now they will reduce the price again as they remain on the shelves. Use your heads people. Only an idiot would run out and buy an iPhone for $700 and sleep in the parking lot of the store so they can get one so they can look cool.
Tomorrow, Ascend (formerly NAASA), a professional organization with members in the finance and accounting field, will be hosting their annual holiday party in San Francisco. But this year, there is a new twist- they have invited several Asian American community and business leaders to speak about their nonprofit experiences and how to effectively give back.