Karmazin 'Optimistic,' Impatient About Merger
January 9, 2008 at 5:30 AM (PT)
SIRIUS SATELLITE RADIO CEO MEL KARMAZIN told the CITIGROUP Global Entertainment, Media and Telecommunications Conference in PHOENIX TUESDAY that he remains "very optimistic" over the SIRIUS-XM SATELLITE RADIO merger but displayed some impatience with the government for its delay in ruling on the deal.
KARMAZIN said that he has not officially heard from the JUSTICE DEPARTMENT and complained that the DOJ, which normally might take 180 days to decide, has interviewed everybody involved and still hasn't decided. He asserted that approval is "ripe to be granted" and added that the merger is "not anti-competitive. It is in the consumer's best interest." KARMAZIN also touted "hundreds of millions of dollars in efficiencies" that the merger would produce, and once again hinted that if the merger is rejected, "we'd have our day in court."