DOJ Finally Approves XM-Sirius Merger
from the took-'em-long-enough dept
It only took over a year of ridiculous protests from traditional radio stations, but the Justice Department has finally decided that XM and Sirius can merge without creating a monopoly. It will be interesting to see if the NAB’s own lobbying efforts helped disprove its point. The NAB, representing terrestrial radio stations argued vehemently that if XM and Sirius merged, it would create a “monopoly.” The only problem with that statement is that if that were the case, it would mean that terrestrial radio wasn’t competing in the same market. And, if that were true, why would the NAB care? So, by arguing so vehemently against the merger, it effectively showed what we all knew: terrestrial radio and satellite radio compete in the same market. Of course, the merger isn’t a done deal yet, as the FCC still needs to weigh in. But given the amount of time it has already taken for the DoJ to make its decision, you would hope that the FCC was at least close to being done with its review as well. Update: No surprise here, the NAB is “astonished” by the decision.
Filed Under: fcc, justice department, mergers, nab, radio, satellite radio, terrestrial radio
Companies: sirius, xm
Comments on “DOJ Finally Approves XM-Sirius Merger”
About Time
Finally.
The sad thing is that the FCC probably hasn’t even started their review of it yet. They wouldn’t want to go through the process of starting a review before the DOJ approved it.
Re: Re:
@ Jeremy, the FCC and DOJ have been coordinating their efforts. Chairman Martin has also told his staff to prepare drafts pertaining to the merger.
Martin again, has also gave inaccurate timelines for a merger decision, but that I’m sure was inaccurate because the DOJ hadn’t ruled yet and he was just trying to give some transparency.
Just saying…
No problem to let two giant oil companies Exxon and Mobil merge and let them post record breaking profits every quarter. That pads a lot of politicians pockets. But two small money losing satellite companies, well no sir not while the NAB is padding the pockets of so many politicians.
Re: Re:
You’re right, it is all about the money. They have to make sure the fat cats get fatter.