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Sirius acquisition of XM lower prices for subscribers |
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Written by asap
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Wednesday, 21 March 2007 |
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It sounds too good be true: more programming choices and lower pricing if federal regulators approve Sirius Satellite Radio Inc.’s acquisition of rival XM Satellite Radio Holdings Inc.
But the deal still faces opposition from several consumer groups, however, and what’s certain to be a tough regulatory review in Washington by antitrust authorities and the Federal Communications Commission.
The FCC filing came on the same day that Sirius’ CEO Mel Karmazin made his third appearance in front of lawmakers to answer questions about the proposed transaction, to be paid for with stock valued at $4.7 billion when the deal was announced Feb. 19.
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BETTER PRICING
In their filing with the FCC, the companies said that customers could elect to receive fewer channels for a rate lower than the current monthly fee of $12.95 offered by both companies.
Customers could also continue to receive the standard Sirius package or XM package for the same rate, or they could choose a best-of selection of channels from both services for what the companies said would be a “modest premium” to the cost of one service.
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POSSIBLE MERGER
Sirius and XM were explicitly forbidden from merging when their licenses were granted a decade ago, but the companies are arguing that much has changed since then, and that the companies now face increased competition in audio entertainment from iPods and Internet radio, as well as traditional terrestrial radio. | Only registered users can write comments.
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