MediaBuyerPlanner: The Federal Communications Commission will not support a merger between satellite radio services XM and Sirius, says chairman Kevin Martin.
Martin said that while the FCC would look at any merger plan filed with the commission, there is a prohibition on one entity owning both of those licenses, according to Adweek. He reminded reporters that a “pro-consolidation oriented panel of commissioners” already rejected that proposal in 2004.
Merger mania was created in part by the imaginations of Wall Street analysts, according to the article, though Sirius chief executive Mel Karmazin has publicly stated that a merger makes sense.
Rules of media ownership are currently being reviewed by the FCC, and Martin hopes that the commission will hold its next public meeting on the topic in February or March. Four more meetings around the country have been proposed.
Related stories:
- BofA Analyst Prefers XM to Sirius, Believes Merger Likely
- XM Reaches 7.6M Subscribers, Sirius Gaining
- Sirius Sees Positive Cash Flow in Q4, Meets Subscriber Estimates
- Sirius Says a Merger Makes Sense, XM Keeps Mum
- XM, WCS Cancel Merger Plans
