More Merger News

SwimConnerSwim

O&A Token Midget
Feb 20, 2007
1,260
1
218
New Jersey
#1
Nothing shocking here, but a few intresting points. I edited a few paragraphs out, long articles are for queers. Full article is here:
http://biz.yahoo.com/ap/070718/satellite_radio_mover.html?.v=2

NEW YORK (AP) -- Shares of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. climbed Wednesday as an analyst said recent lobbying efforts by the two satellite radio companies to get their merger passed seem to have won some support, though regulatory hurdles remain.
In a note to clients, Banc of America Securities analyst Jonathan Jacoby also said he expects both companies to easily beat Wall Street's subscriber estimates for the second quarter of 2007.


Jacoby said Washington D.C. contacts indicate Sirius' CEO Mel Karmazin has won support from a number of minority & public interest groups through concessions, building momentum for the merger. Still, Jacoby said his contacts indicate the deal has only about a 35 percent chance of Federal Communications Commission approval, a slight improvement from less than 30 percent a few months back.

Despite Karmazin's lobbying, Jacoby warned in a note to clients that XM and Sirius still face procedural obstacles, including the possibility that the FCC will ask for more information on the transaction, which could stop the clock and potentially "kill" the deal. If the companies are able to clear procedural hurdles by Sept. 10, then Jacoby's contacts believe the merger's likelihood of approval rises to more than 50 percent.
Jacoby favors XM if the merger fails, as he thinks the company is likely to gather a 60 percent share of the original equipment manufacturer subscriber market over the next several years.


XM and Sirius will report quarterly results on July 26 and July 31, respectively.
 

Hoffman

Guess who's back? Hoffman's back
Sep 28, 2006
34,674
2,022
458
Northern VA
#2
Nice to hear somebody thinks things look good for XM when this doesn't go through.
 

MJMANDALAY

Registered User
Jan 26, 2005
13,145
1
0
#3
Blaa blaa blaa
Fuck xm and fuck mel
 

SwimConnerSwim

O&A Token Midget
Feb 20, 2007
1,260
1
218
New Jersey
#7
I guess. But waiting until September 10th isn't so bad. I'm pretty much against the merger, but if it goes through, I'm not going to be all that pissed about it. It is what it is.
 

Kris_LTRMa

LoseTheRadio.net's Ma
Nov 17, 2006
9,749
1
333
right where I wanna be
#8
I guess. But waiting until September 10th isn't so bad. I'm pretty much against the merger, but if it goes through, I'm not going to be all that pissed about it. It is what it is.
Agreed, but if there's a way to put pressure on the powers that be to swing the pendulum against the merger, I'd like to do it.
 

Tryaluckystrike

Registered User
Feb 19, 2007
1,886
0
36
#9
Great, that's 5% closer to losing the boys for good. Lovely.