Looks like the merger has hit another "speed bump" at the FCC!!
FCC Chairman Needs One More Vote for XM, Sirius Approval
FCC Chairman Needs One More Vote for XM, Sirius Approval
XM Merger Not a Done Deal
- Thread starter Juan
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Or if it's not going to be approved, say so. This is ridiculous. It's been 1.5 YEARS already (if not close to that).
The hard part are the "new" consessions being asked for. The FCC is demanding things that should kill the d4eal if both XM and Sirius are smart
Just Walk Away, Sirius
Just Walk Away, Sirius
As you can see from the front page thread we havea second commissioner saying he will vote no. The fifth commissioner however i rumored to be leaning towards ay es vote.
Just got this email from TWICE, looks like it'll happen:
WSJ: Sirius/XM Merger Deal Struck - 7/23/2008 2:35:00 PM - TWICE
Washington — The Wall Street Journal is reporting that a tentative deal has been reached by a majority of the Federal Communications Commission (FCC) to approve the merger of Sirius and XM.
Republican commissioner Deborah Taylor Tate is the only commissioner left to vote and is expected to approve with conditions. An FCC staffer told TWICE that Tate “will vote” but did not say when or how she will vote.
Concessions on long-term pricing, minority programming and licensing fees to the music industry were all under consideration as part of any approval in recent days.
If officially approved, the new company is expected to eliminate $400 million in expenses next year as the companies shared many overlapping costs, said Sirius CEO Mel Karmazin who will assume that title at the combined company.
XM and Sirius shared one of the most heated rivalries in consumer electronics until they agreed to merge in early 2007. Since that time, retail sales declined in a 63 percent downward spiral in 2007 over 2006 and the market switched to mainly OEM sales at the car dealer. Retailers hope that merger approval will reignite retail sales.
Most of the post-merger boost is expected to come from new radios with lower monthly service fees that were promised by the companies if they were permitted to merge. These radios should be available within three months, offering a la carte plans starting as low as $6.99 a month, Sirius and XM told the FCC in June.
WSJ: Sirius/XM Merger Deal Struck - 7/23/2008 2:35:00 PM - TWICE
Washington — The Wall Street Journal is reporting that a tentative deal has been reached by a majority of the Federal Communications Commission (FCC) to approve the merger of Sirius and XM.
Republican commissioner Deborah Taylor Tate is the only commissioner left to vote and is expected to approve with conditions. An FCC staffer told TWICE that Tate “will vote” but did not say when or how she will vote.
Concessions on long-term pricing, minority programming and licensing fees to the music industry were all under consideration as part of any approval in recent days.
If officially approved, the new company is expected to eliminate $400 million in expenses next year as the companies shared many overlapping costs, said Sirius CEO Mel Karmazin who will assume that title at the combined company.
XM and Sirius shared one of the most heated rivalries in consumer electronics until they agreed to merge in early 2007. Since that time, retail sales declined in a 63 percent downward spiral in 2007 over 2006 and the market switched to mainly OEM sales at the car dealer. Retailers hope that merger approval will reignite retail sales.
Most of the post-merger boost is expected to come from new radios with lower monthly service fees that were promised by the companies if they were permitted to merge. These radios should be available within three months, offering a la carte plans starting as low as $6.99 a month, Sirius and XM told the FCC in June.
More info from the WSJ:
FCC looking for $20M in conecssions plus other minor things:
FCC Reaches Tentative Deal To Approve XM-Sirius Merger - WSJ.com
A portion:
FCC looking for $20M in conecssions plus other minor things:
FCC Reaches Tentative Deal To Approve XM-Sirius Merger - WSJ.com
A portion:
Darn if this goes through we consumer are burned!!!
Al-lacarte my a--- to get the same number of channels we will pay more money
Looks like sirus and XM pulled one over on the idots at the FCC got them to approve a rate increase.
Al-lacarte my a--- to get the same number of channels we will pay more money
Looks like sirus and XM pulled one over on the idots at the FCC got them to approve a rate increase.
Like I said...this merger is a bailout of bad business decisions (gambling-by signing multi-million dollar contracts). The US needs to stop doing this. If these two satellite radio companies fail, and there is a demand for satellite radio, other companies will fill that demand.
How? By finally being able to listen to every sport with one radio and one subscription?
The only people this is bad for are "subscribers" that are face the prospect of losing perpetually free service from customer retention padding subscriber numbers and NAB stooges.
Obviously in a world of AM, FM, HD, CD, MP3, and a nearly infinite array of internet and cell phone streaming services, two satellite radio operators joining together limit our listening choices so severely that it should be treated as an illegal monopoly.
I know pay $110.00 per year with XM and get all of their channels.
If we have to pay for each station at $2.00 per month for each station-- then If I subscribe to only ten stations-- my Yearly fee would be $200.00 for only ten stations.
That is a rate increase.
First, let the deal happen.
Secondly, no you will not be screwed: The so called a la carte packages will be tiered like Dish and Direct. For example, 25 of your favorite channels for only $6.99; 50 for $8.99 and all the channels for 12.99 . . . again, just examples, but do understand that this helps HELPS the customer and those packages would be locked for two years! (not mentioned, but maybe a cancellation fee will be enabled like all cable/satellite companies do)
Secondly, no you will not be screwed: The so called a la carte packages will be tiered like Dish and Direct. For example, 25 of your favorite channels for only $6.99; 50 for $8.99 and all the channels for 12.99 . . . again, just examples, but do understand that this helps HELPS the customer and those packages would be locked for two years! (not mentioned, but maybe a cancellation fee will be enabled like all cable/satellite companies do)
Sorry for another post: I really wish people got more active and involved in other mergers that are done within a blink of an eye in the future. A reminder of customer screwjobs which no one complained previously:
1. Exxon/Mobil
2. Delta/Northwest Airlines
3. Verizon/MCI
1. Exxon/Mobil
2. Delta/Northwest Airlines
3. Verizon/MCI
Tentative Deal Reached on XM-Sirius Merger: WSJ
Tentative Deal Reached on XM-Sirius Merger: WSJ - Media * US * News * Story - CNBC.com
Tentative Deal Reached on XM-Sirius Merger: WSJ - Media * US * News * Story - CNBC.com
I made a thread about the tentative deal. I didnt know it was posted within here. Not sure if it should stay, although it might be nice to start a new thread about a deal.
