Yup, ClearChannel is a giant.
Nobody owns them, they are private.

Feeral Trade Commission review? Will the "failing industry" defense of a merger be accepted in the US as it is in Europe? THis will make for interesting reading.

Yes, lol, Howard Stern has asked that he now be referred to as, "The Howard."
This is because of one simple reason. He is sick and disgusted of being mixed up with that "other Howard", Howard K. Stern.

Frankly, I don't blame him.

B

I got this email today. I am sure Sirius subcribers also got something. I just hope the monthly fees does not go up to $25.

Dear XM Radio Subscriber:

We want to share with you some exciting news: Yesterday, in Washington DC, we announced XM Radio will be merging with Sirius Satellite Radio to form the premier digital audio service.

The merger will create a satellite radio company that will provide consumers across the country with more and better premium radio programming. The combined company will be able to compete better in what has become a very complex and dynamic entertainment market.

Where today our exclusive contracts mean you had to choose between baseball and football or Oprah and Martha Stewart, the new company will seek to ensure that in the future, you will be able to access both companies' programming. And, once we are fully integrated, those of you who have factory-installed satellite radio will no longer be limited to the programming provided by the exclusive satellite radio service chosen by their car manufacturer.

This merger should be completed in late 2007 or early in 2008. Throughout the year, we will provide updates on how the merger is progressing and information will be available at our website, www.xmradio.com.

Between today and the merger date, as well as during the period immediately after the merger date, all of your services will remain the same. The channel lineup, the customer service number, the great music technology, and the XM Radio web site will all remain unchanged and there will be no disruption to service. But, if you have questions, information will be available and maintained on our website, and you can contact our Listener Care team at 800-XMRADIO, with questions and concerns.

XM Radio continues to be committed to providing you the highest quality audio entertainment and customer service available today. After the merger, our new company will be able to offer you the most exciting listening experience in radio.

Sincerely,

Hugh Panero
CEO, XM Satellite Radio

cool, LM.
So what will the company be called? Something new?

Its an answer to a prayer for me!
Cannot wait. I get to keep my equipment
and get XM's great line up.:thumbup:

From Radio & Records:

Banc of America Securities analyst Jonathan Jacoby has been bird-dogging XM and Sirius for a number of years, and he's not all that confident that they are going to pull off their proposed merger. In a review of Tuesday (Feb. 20) morning's joint XM-Sirius teleconference with analysts -- including Jacoby -- the veteran analyst tells investors in a note, "It seems to us that management and Wall Street are not very far apart on the estimated likelihood of a merger being completed. We believe that the probability of success is something less than 50%, and the managements seem to be only slightly more confident."

Karmazin Called To Testify Before House Antitrust Task Force
By Jeffrey Yorke
The Antitrust Task Force, a brand new subcommittee of the House Judiciary Committee, will examine the proposed $13 billion merger between Sirius and XM satellite radio companies and has already confirmed that Sirius CEO Mel Karmazin (pictured) will testify on Feb. 28 when the committee makes its debut.

Chaired by Rep. John Conyers (D-MI), the committee has been established to focus on antitrust and competition policy issues and next Wednesday afternoon’s hearing, billed “Competition and the future of Digital Music,” will focus on the proposed satcasters’ merger.

"Digital music is at the cutting edge of technology and innovation. We are holding this hearing to allow Members to probe whether this merger will enhance or diminish competition in the digital music distribution industry,” Conyers says. “Our members will explore how to define this new marketplace, and whether this merger will lead to increased choices and lower prices for consumers."

Ranking Member Lamar Smith (R-TX) added, "XM and Sirius provide unique programming options for millions of customers nationwide. Consumer's interests should remain our priority. This hearing will help determine whether customers will get higher or lower prices and more or fewer programming options with the proposed merger. In particular, the Committee will examine whether satellite radio competes against terrestrial radio, the Internet or other emerging technologies."

Conyers is forming the new task force and committee members from both the Democratic and Republican sides are being selected. The subcommittee, created on Wednesday (Feb. 21) morning, will have a limited term, now set to end in August when Congress adjourns for summer recess.

Banc of America Securities analyst Jonathan Jacoby, who gives the merger a “less than than 50-50 chance” of winning regulators approval, says “a congressional hearing doesn’t doom the deal (we believe the merger does pass muster on competitive grounds), but it shows that the high profile nature of the transaction could attract plenty of opposition” and he expects the hearing to slow the entire approval proves.“ Jacoby adds that “a review by Congress seems to open the door further to politically motivated opposition.”

The hearing is perfect timing for the NAB which had already scheduled its annual State Leadership Conference for Feb. 27-March 1. That means hundreds of grassroots broadcasters will be in Washington, preparing to rush Capitol Hill to let their representatives know about the hardships small broadcasters face daily. The NAB schedule this year has all but an evening dinner (featuring Senate Commerce Committee co-chairman Daniel Inouye and Ted Stevens) cleared for lobbying. It will give the broadcasters plenty of time to lean on representatives before the 3 p.m. hearing begins.

Well, maybe Sirius will just sell out.