Karmazin Eyes End of Month Decision on XM/Sirius Deal
Sirius CEO Mel Karmazin told an investment crowd that he hopes to get a decision from regulators scrutinizing the company's merger with satellite radio rival XM by the end of the month.
Karmazin, speaking before the Bear Stearns media conference Wednesday, said things are looking positive with the pending combination. "If there was a big problem with the merger, it wouldn't take this long to figure it out," he said.
"Either you believe we compete with a whole bunch of audio choices or you think there's a distinct market called satellite radio," Karmazin added.
The deal is before the Federal Communications Commission and antitrust staff at the Justice Department. Recently, FCC Chairman Kevin Martin said he would like to wrap up the agency's review of the proposed merger before the end of the month.