Three U.S. Lawmakers Back XM and Sirius Merger
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The Justice Department is evaluating whether the merger of the only two U.S. satellite radio companies would hurt competition.
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Winning approval for a proposed merger of the nation's two satellite radio companies turns on whether regulators buy their argument that iPods, Internet radio and other new technologies have expanded so dramatically that a monopoly would not harm consumers' choices or purses.
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The two main U.S. satellite radio providers, Sirius Satellite Radio and XM Satellite Radio on Monday said they would merge in a stock-for-stock deal, a move that has been long expected in the young industry.
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WASHINGTON - Two powerful congressional chairmen, including one who had opposed legislation to revamp the nation&#39;s intelligence agencies, endorsed a compromise yesterday and moved a bill endorsed by President Bush closer to approval.
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A motley crew of organizations is backing the merger of XM and Sirius, if only to get some press-release loving.
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Winning approval for a proposed merger of the nation's two satellite-radio companies turns on whether regulators buy their argument that iPods, Internet radio and other new technologies have expanded so dramatically that a monopoly would not harm consumers' choices or purses.
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U.S. satellite radio providers Sirius   and XM  said on Monday they can offer  consumers a variety of subscription packages that cost up to 46  percent less than current plans if their merger is approved.
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(InfoWorld) - A major Taiwanese maker of satellite radios and components stands to benefit from theÂ proposed mergerÂ between two U.S. companies, Sirius Satellite RadioÂ and XM Satellite Radio Holdings, lifting its stock higher in Taipei on Monday. Wistron Neweb Corp. (WNC), one of many spin-offs from the Acer Group when it reorganized several years ago, could grab new orders for its satellite-related components and gear if the Sirius and XM merger is approved, according to Goldman Sachs (Asia). The company may have to wait for good news, however, as the investment banker sees a long road ahead for regulatory approval of the merger. "We believe it would be a big bonus to WNC in the long-term if the merger of Sirius and XM happens, given that Sirius is likely to take the lead on procurement. However, we believe it may not occur in the near term," Goldman Sachs technology analyst Henry King said in a report Monday. Regulatory approval for the proposed deal, valued at $13 billion, could take until the end of this year, he said. Even if a deal is pushed through, it could take as long as until the second half of 2008 for the companies to consolidate their businesses and start ordering gear from a single supplier. Currently, WNC competes with several Taiwanese and South Korean rivals. WNC has long supplied Sirius with satellite radios, and the U.S. company's success has helped boost WNC's shares on the Taiwan Stock Exchange. News of the merger sent WNC shares up NT$2.70, or 3.1 percent, to NT$91.10 (US$2.75) on the TSE Monday, the first day trading resumed after the long Lunar New Year holiday. The main index of the exchange, the TAIEX, rose 1.2 percent on the day. Many Taiwanese factories fill orders for U.S. companies, and often benefit when certain products become popular. For example, Inventec Appliances, which makes some iPod models for Apple, saw its share price rise 30 percent on the day of its initial public offering a year and a half ago because of the popularity of the digital music player and hopes it would continue to gain followers. It was the biggest one-day rise for an initial offering in the market's history. Sirius and XM claim total subscribers of around 13.6 million, 6 million for Sirius and 7.6 million for XM. Â
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By Charles Babington, Washington Post Staff Writer  The nation's two satellite-radio companies promised yesterday to refrain from raising prices, for a time at least, if they are allowed to merge. But some lawmakers and consumer groups appeared dubious.
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WASHINGTON -- Sirius Satellite Radio Inc. chief executive Mel Karmazin clarified his pledge to freeze prices in order to win approval of the proposed $4.29 billion purchase of XM Satellite Radio Holdings Inc.
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Political opposition to the merger of satellite radio providers XM and Sirius increased on Wednesday, as the chair of the Senate antitrust committee sent a letter to both the FCC and Justice Department opposing the deal.
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Sirius Satellite Radio Inc. and XM  Satellite Radio Holdings Inc. pledged on Tuesday to work with  regulators to close their proposed $4.9 billion merger by  year's end, seeking to calm concerns that U.S. antitrust  authorities would block the deal.
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If the merger between XM Satellite Radio and Sirius Satellite Radio is approved, the combined company would offer new pricing plans to allow consumers to pay only for the stations they want, Sirius chief executive Mel Karmazin said yesterday.
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Sirius Satellite Radio Inc.'s  chief executive will defend the company's plan to purchase XM Satellite Radio Holdings Inc.  at a House telecommunications panel hearing on Wednesday.
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By Seth Sutel  NEW YORK - XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc., rivals in the fledgling satellite radio industry, have agreed to combine in a deal that investors hope will result in significantly reduced costs.
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Sirius Satellite Radio Inc. on  Wednesday tried to clear up confusion over the cost of its  service after buying rival XM Satellite Radio Inc. by telling  lawmakers that it would be less than $25.90, the price of two  services combined.
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XM and Sirius announced a merger of equals that is sure to face scrutiny from federal regulators.