Karmazin: If FCC Nixes Merger, We'll Sue
November 9, 2007 at 10:51 AM (PT)
In an interview with the CHICAGO TRIBUNE, SIRIUS SATELLITE RADIO CEO MEL KARMAZIN stated flatly that if the FCC does not approve his company's merger with XM SATELLITE RADIO, "SIRIUS will sue."
KARMAZIN told the TRIBUNE editorial board that the FCC should approve the merger because "It's bizarre for me to think that anybody could think that in this whole area of audio entertainment there isn't plenty of competition, and new competition coming every day. Not only do we compete with all of the radio stations that exist, we also compete with all of the other alternatives that have come along since we've gotten our license." He said that the merger would give the combined company "the ability to reduce prices" due to efficiencies he estimated at between $3 billion and $9 billion. "From our point of view," KARMAZIN told the board, "the merger should be a no-brainer."
...the merger should be a no-brainer.
Read the entire interview by clicking here.