Customers have been diligently following the news about the anticipated merger between Sirius Satellite Radio and XM Satellite Radio. The merger has been held up longer than expected because of close supervision by the Department of Justice and the FCC. A few weeks ago it expected to come soon about the merger agreement. That has not happened, however, and now hoped that the agreement may not come to end in May or even June.
The FCC is now expected to approve the merger when asking for a normal condition in most. The number before the word was given that the DOJ has completed the investigation of merger proposal, which was announced more than a year ago. The DOJ reported that it will not take any action regarding this issue. This is obviously good news. Department of Justice concluded after months of investigation that the proposal is not anti-competitive mergers. This means that the hold-up for FCC approval on the left. While satellite radio licenses previously issued by the FCC back in 1997, the merger is prohibited.
There is a concern and the Attorney General out of the country's wrist. They requested that the FCC states rejected the merger proposal on the grounds that it is anti-competitive. In case the FCC could go before the merger, especially the states is a request that requires the FCC Bandwidth combined satellite radio entity to hire and make it available for free satellite radio service. No ruling has been made on this request yet.
Given the fact that the final decision has been reached yet about the merger, both XM and Sirius we have decided to postpone the meeting of their shareholders, which is usually held at the base. Meetings have been delayed pending additional information about the proposal when Sirius and XM merger. Initial meeting has been scheduled for Friday, May 1. The meeting had now been rescheduled for May 20; yet. Shareholder approval for the proposed merger is available to all XM and Sirius November 2007.
If the merger is approved, it will be as anticipated in the coming months, the combination of XM and Sirius will basically involve the purchase of Sirius XM with the amount of approximately $5 billion. Business with Sirius XM itaongoza more than 17 million satellite radio subscribers. The Sirius CEO, Mel Karmazin, the company merger is expected to head.
Benefits for customers from the merger is expected to be great again if the customer must choose from one or the other programs satellite radio. For those potential customers who are waiting to see how the merger proposal turned out, this will really welcome news. If the customer wants to continue the program from one provider can do so without paying extra for programs from other providers.
