Latest Merger News - 6/18/07

Patrick Bateman

"Don't Just Stare at it, Eat it!"
Mar 24, 2005
208
0
0
Ronkonkoma, NY
#1
http://news.yahoo.com/s/nm/20070619/media_nm/radio_dc;_ylt=AtEb.nXne_wpKegbTgsUVs5xFb8C

Lawmakers to regulators: Block merger of XM, Sirius

WASHINGTON (Hollywood Reporter) - More than 70 lawmakers on Monday urged antitrust authorities to block the proposed merger of the nation's two satellite radio companies, contending that the deal is anticompetitive.

In a letter to Attorney General Alberto Gonzales and

Federal Communications Commission chairman Kevin Martin, 72 members of Congress expressed their opposition to the XM-Sirius deal, saying it would harm consumers.

"On its face, we believe that sanctioning the marriage of the only competitors in the satellite radio market would create a monopoly, which would be devastating to consumers," the lawmakers said.

Chief authors of the letter are Reps. Gene Green, D-Texas, and Jim Sensenbrenner, R-Wis., a senior Republican of the

House Judiciary Committee, which oversees the Justice Department.

Several committee chairmen and prominent members also signed the letter.

Among the Democrats' signatories are Budget Committee chair John Spratt of South Carolina, Agriculture Committee chairman Collin Peterson of Minnesota, Rules Committee chairwoman Rep. Louise Slaughter of New York and presidential candidate Rep.

Dennis Kucinich of Ohio.

Among the 25 Republicans who signed the letter are former House Speaker Rep.

Dennis Hastert of Illinois, Republican whip Rep. Roy Blunt of Missouri and Tom Cole of Oklahoma, chairman of the National Republican Congressional Committee.

The lawmakers join a growing cadre of congressmen who have expressed varying degrees of concern about the deal. While the lawmakers can't block the deal on their own, their concerns threaten to create an atmosphere that would make the deal harder for antitrust authorities to approve because they often pay attention to lawmakers' concerns.

In May, House Energy and Commerce Committee vice chairman Rep. Mike Doyle, D-Pa., sent a letter expressing concern about the deal to Gonzales, Martin and FTC chairman Deborah Platt Majoras.

Sen. Herb Kohl, D-Wis., chairman of the Senate antitrust subcommittee, sent a letter to Martin and Assistant Attorney General Thomas Barnett expressing opposition.

House Judiciary Committee chairman John Conyers, D-Mich., and House antitrust task force ranking member Rep. Steve Chabot, R-Ohio, sent a letter to Martin and Gonzales asking a series of tough questions related to the merger.

Reuters/Hollywood Reporter
 

SwimConnerSwim

O&A Token Midget
Feb 20, 2007
1,260
1
218
New Jersey
#4
Nice to see all that lobbying money means dick sometimes. Millions of dollars right down the shitter.
 
H

hamtyl07

Guest
#5
thats good to hear fuck that little doggie
 

vegasbob

Registered User
Mar 7, 2005
2,013
0
0
Vegas Baby
#6
Does the doggie company still have to pay Hoo-Hoo if the merger doesn't go though?
 

BullsLawDan

She A Great Big Fat Person?
Feb 9, 2006
3,823
2
0
NY
#7
um yeah as i said before... no way this goes through. It's the same as the DTV/Dish merger, and they blocked that.

For anyone not familiar with politics: if 70 congresspeople sign on to something, from both parties, almost all of the rest will fall in line.
 

ls1speedfreak

Registered User
Aug 8, 2006
136
0
16
#8
its good to hear that not all politicians are dicks. thanks for the update
.. not to go off topic, but this doesn't mean that they aren't dicks, just not really really stupid enough to screw over tons of voters.
 

maz

TRueWDTer
Feb 16, 2005
63,571
1,868
693
abu dhabi,pa.
#9
YEA
i want my OPIE AND ANDY
only on one company
fuck mel and hoo hoo
even if i think xm is a bunch of shitdicks for suspending them
can't wait till july
 

LiddyRules

I'm Gonna Be The Bestest Pilot In The Whole Galaxy
Jun 1, 2005
141,477
49,801
644
#10
One senator actually said "It would be plum unAmerican to support an organization that advocates the forced sexual advances on our cherished Secretary of State and beloved first lady."

It works in a Southern accent.
 

maz

TRueWDTer
Feb 16, 2005
63,571
1,868
693
abu dhabi,pa.
#11
anyone that uses the word plum
is ok in my book
is it spelled plum or plumb ?
either way it's old school
 

Boz

Miss the Old XM Dearly
Apr 24, 2005
252
0
0
#14
"In a letter to Attorney General Alberto Gonzales"

Then again, they are trying like hell to fire this guy. Makes you wonder about his listening to anything they say. Or it could work in reverse and he falls in line to try and save his job.
 

skione

OA Fan From Way Back!
Nov 17, 2005
347
0
316
Your Mom's Box
#16
like I've said b4 this merger is dead

but don't kid yourselves, if there wasn't so much attention brought on by our efforts the merger would probably go through.

This will also mean that sirrius as a company will probably not exist so that means someone will buy them out and I doubt after looking at the P&L they will keep hoo hoo around. By this time next year howie will be "retired" XM will be #1 and sirrius will be an also ran.
 

thetick130

Trying hard not to kill my dog
Aug 16, 2006
976
0
251
NJ, fuck you
#17
what the hell is doggie going to do when ol' hook nose retires or has to take the horse out to hte pasture?
i dislike him as much as the next wbger, but he is good for that company, no matter what they pay him. but they have nothing after he leaves....
a bunch of football games on a total of 17 weekends plus playoffs...
nascar.....errr
music?
 

Bit Wrecker

Too big to fail
Oct 10, 2006
616
0
0
#18
Nice to see all that lobbying money means dick sometimes. Millions of dollars right down the shitter.

Actually, this is the whole problem. They aren't lobbying enough. XM can't afford the votes they need.
 
Apr 17, 2005
2,105
6
333
#19
Actually, this is the whole problem. They aren't lobbying enough. XM can't afford the votes they need.

I wonder what happens to Mel K. if this thing fails. :icon_conf After all they're paying him an assload of money and the stock has gone straight down since he took over.