The merger between Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. may not be approved by the FCC's deadline, according to Cowen & Co analyst Tom Watts.
"In fact, the FCC review could take longer," Watts wrote in a client note. "We point out that deadlines can, and may, slip past the FCC's 180-clock."
Watts also points out that the DOJ doesn't necessarily need to adhere to the FCC's unofficial timeline.
He still feels that the deal will be approved by regulators, but warns that two stocks would tumble if the deal doesn't go through (uhm, yeah, I think we knew that). Watts estimates that XMSR would fall between 20%-30% and SIRI would fall 20%.
I really wish these analysts would shut up. They don't know any more than the average joe.
Fire up the podcasts, boys!
Virus contained.
@Tim: But they do have a PR team pitching the media. :)
Could It?
hummm lets see FCC 180 day time clock running out.... DUH!?
End the merger already... Share holders have aproved it so there is no 180 million dollar penalty. The NAB has been exposed, The Royalty rates have been in the headlines. XM has written down much much more in depreciation than sirius under the cover of merger, the bad retail numbers are now known, the OEM lines are kickin in.
EVERYTHING is good... it just aint the 220 million potential subscribers they used to tout.
this is a slow painful drip - like water torture
Could it be that they are not happy information was leaked.and for that reason are making it look like nothing was leaked?
I also wish the analysts would go away. They are as good as usless.
I feel like going into shut down mode as this crap seem to just go on for ever, in fact I bet this will still be going on at this time next year.
satrad is shooting itself in the face with this soap opera. .... Off Topic....All these "podcast willy" comments i see regarding O&A's future? I wonder if these posters realize that in 10yrs nearly ALL of our audio content will come from one source.....the internets and its wireless spawn!! Satellites wont be a factor in this medium.....and howard wont care as he will have made his money AND single handedly bankrupted an industry.
sad, they have approved mergers at break neck speeds...except this one...
We all interject innuendo and conjecture into this situation, but I can only think of the employees of either company. It is definitely challenging to go through a situation like this, having gone through 2 like scenarios myself, and to keep up the 'good fight' is not easy. I think the employees deserve a decision to be made, just as much as the shareholders or other stakeholders.
You realize the longer it takes, the less likely it is to happen.....right?
Fine by me.