Federal regulators may be nearing a decision in the merger of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. with the FCC leading the charge, according to firm Stifel Nicolaus.
We’ve all heard this ad nauseam over the recent months, but Stifel Nicolaus analyst Blair Levin writes in a recent research note this morning that he understands that the FCC is drafting a document to approve the deal. This may be an indicator that the DOJ will make their move soon as well, as presumable the agencies are coordinating their efforts.
“The FCC rumblings bolster our sense that the DOJ will likely clear the deal followed by FCC approval with conditions,” writes Levin.
While the exact merger conditions are unknown, Levin thinks that the FCC could require some capacity to be leased to independent programmers. Hopefully the FCC is seriously considering Public Knowledge’s proposals, and not Georgetown Partners’ agenda.
“We think the critical FCC question is whether the two Democrats [Commissioners Copps and Adelstein], both of whom have expressed concerns about the merger, could be persuaded to vote for the deal if a leased-access condition were included,” he writes.
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