AfterDawn: News

U.S. Congress to study Sirius & XM merger

The United States Congress will hold hearings into the proposed merger of two U.S. satellite radio companies, Sirius Satellite Radio and XM Satellite Radio. The House Judiciary Committee is to question CEO designate Mel Karmazin on how this deal would benefit consumers. The current spectrum agreements with both require that there be two providers.

"It's a very high hurdle that they would have to meet to demonstrate if it's in the consumer's best interest," FCC Chairman Kevin Martin said. Any merger will require a change in the agreements. The House Antitrust Task Force will hold the hearings, which would be the first item on the panel's agenda, and would include both Republicans and Democrats.



"Digital music is at the cutting edge of technology and innovation," Rep. John Conyers (D-MI) said in a statement. "We are holding this hearing to allow Members to probe whether this merger will enhance or diminish competition in the digital music distribution industry."

Source:
Betanews

Written by: James Delahunty @ 22 Feb 2007 16:49

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• 3 comments

• al_he_79

  well well

  22.2.2007 18:24 #1

• Pop_Smith

  Congress just had to get their piece of the money pie. The only time I would like to see them involved is if a major price hike occurs due to lack of competition.

  22.2.2007 18:54 #2

• ZippyDSM

  Originally posted by Pop_Smith:Congress just had to get their piece of the money pie. The only time I would like to see them involved is if a major price hike occurs due to lack of competition.hell they cant even control cable ><

  23.2.2007 05:47 #3