Deal or no deal?
Heaven only knows whether the proposed combination of Sirius Satellite Radio and XM Satellite Radio will pass muster with Federal regulators, and the weekly spin from the companies, allies and critics is enough to make one’s head, well, spin.
On top of that are the sometimes cryptic comments of FCC commissioners whose words are parsed as leaning one way or another. For example, FCC Chairman Kevin Martin spoke at a National Association of Broadcasters event on Thursday and reportedly made general comments about the merger. Watchdog blog SiriusBuzz said they were “viewed as positive by those following the merger process.” Back in February, Martin said the companies would have a “high hurdle” to clear to gain FCC approval.
Meanwhile, FCC Commissioner Michael Copps, one of two Democrats on the five-member commission, said it would be a “steep climb” for him to cast a favorable vote on either deal because he has serious concerns about consolidation in the U.S. media.
After months of testimony from those for and against the deal, and massive lobbying efforts, it would appear Copps’ stance was similar to his position back in April when he said that he was “not the world’s largest fan of consolidation.” Copps, on Thursday, declined to comment on how he will vote.
Analysts opinions have swayed back and forth . And XM’s share chart over the past 6 months mimics a Sine Wave .
The merger needs approval from the U.S. Department of Justice as well as the FCC. Martin has said a vote will take place in the fourth quarter.
- France Telecom said it sold its Orange Netherlands unit to Deutsche Telekom for 1.3 billion euros. The deal is part of a wide reshuffling of assets by European telecoms operators seeking to consolidate their market positions. (Reuters)
- Financial magazine Forbes on Thursday published a list of the highest-paid TV celebrities, with daytime talk show host Oprah Winfrey leading the way by earning an $260 million between June 2006 and June 2007. Nobody else came close. (Reuters )
- “If I Did It,” O.J. Simpson’s hypothetical account of his ex-wife’s slaying, has hit No. 2 on the New York Times best-sellers list for non-fiction, topping former U.S. President Bill Clinton’s book “Giving.”(Reuters )
- The Los Angeles Times may launch a free, tabloid-sized daily newspaper, similar to Redeye, a paper published and distributed for free at commuter stations by the Chicago Tribune. (Reuters)
- Google said it was unlikely U.S. antitrust authorities would seek to impose conditions on its $3.1 billion acquisition of advertising company DoubleClick. (Reuters)
- CBS is launching CBS EyeLab which will make and distribute short clips cut together from the network’s most popular shows. (WSJ)
(Photo: Reuters)
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