Consumer Electronics Association Wants Federal Communications Commission’s Ruling on Satellite-Radio Merger By John Eggerton -- Broadcasting & Cable, 4/10/2008 12:35:00 PM Equipment manufacturers are asking the Federal Communications Commission to get a move on and decide whether or not to approve the XM Satellite Radio-Sirius Satellite Radio merger.
In a letter to FCC chairman Kevin Martin, Consumer Electronics Association president Gary Shapiro pointed out that the Justice Department already gave the deal a clean bill of health, and that it was time for the FCC to weigh in to provide consumers with the "confidence and clarity" on what satellite-radio systems to buy.
If the FCC approves the deal, XM and Sirius are planning to offer a la carte service with channels from both services, which would require consumers to buy new equipment.
The Shapiro letter came after Martin told a House Appropriations Committee he had no timetable for the decision, although he had said on more than one occasion that he was aiming for the end of March.
I wonder if the major MM shorts have recieved tips about this delay in FCC ruling so they are safe to short like crazy. This is what is happening. Never thought this would happen - - if I can ever get out of SIRI I am sticking with ETFs and larger cap companies that are less likely for this to happen. Retail investors have no power in the market. Congrats to all shorties - - your strategy has been utterly brilliant.