GNG News Guy
03-01-2008, 11:30 AM
http://i.dslr.net/urls/15/10015.gif (http://www.dslreports.com/shownews/XM-Sirius-Merger-Extended-92289)
More than a year ago, Sirius and XM Radio announced (http://www.dslreports.com/shownews/81758) their plans to merge into one company. Consumer groups with concerns about the monopoly this would create in the satellite radio market spoke out (http://www.dslreports.com/shownews/82683) against the merger and the FCC decided to seek comments (http://www.dslreports.com/shownews/84653) from the public to assist them in determining whether or not the deal should be allowed to move forward.
There was hope that a decision would be made on the deal by the end of 2007. Back in December, stocks for both businesses soared after an analyst predicted (http://www.dslreports.com/shownews/89873) that a decision about whether or not the merger would be allowed was imminent . Three months later, that decision has not yet come.
Today marked the date at which the two companies could opt to terminate the deal if no decision had yet been made. However, the companies officially opted (http://www.broadcastingcable.com/article/CA6537030.html) to extend the agreement until May 1st pending the decision. Both the Department of Justice and the FCC have to rule as to whether or not the merger should move forward and neither has come up with a decision yet although there are some reports suggesting that they will make their rulings this month.
read comment(s) (http://www.dslreports.com/shownews/XM-Sirius-Merger-Extended-92289)
More than a year ago, Sirius and XM Radio announced (http://www.dslreports.com/shownews/81758) their plans to merge into one company. Consumer groups with concerns about the monopoly this would create in the satellite radio market spoke out (http://www.dslreports.com/shownews/82683) against the merger and the FCC decided to seek comments (http://www.dslreports.com/shownews/84653) from the public to assist them in determining whether or not the deal should be allowed to move forward.
There was hope that a decision would be made on the deal by the end of 2007. Back in December, stocks for both businesses soared after an analyst predicted (http://www.dslreports.com/shownews/89873) that a decision about whether or not the merger would be allowed was imminent . Three months later, that decision has not yet come.
Today marked the date at which the two companies could opt to terminate the deal if no decision had yet been made. However, the companies officially opted (http://www.broadcastingcable.com/article/CA6537030.html) to extend the agreement until May 1st pending the decision. Both the Department of Justice and the FCC have to rule as to whether or not the merger should move forward and neither has come up with a decision yet although there are some reports suggesting that they will make their rulings this month.
read comment(s) (http://www.dslreports.com/shownews/XM-Sirius-Merger-Extended-92289)