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Cramer: Merge the Satcasters

Cramer: Merge the Satcasters

Sirius and XM should merge, in the view of pundit Jim Cramer, whose comments were reported by the New York Times.
“Speaking on his radio show Wednesday, Mr. Cramer said that if he could talk to one CEO right now, it would be Mr. Karmazin. What would he say? He would tell him it is high time to make a bid for his company’s archrival,” the Times reported.
“Mr. Cramer justifies such a move this way: The two companies are paying too much money competing against one another, and merging the two would allow Sirius to ‘raise its prices, dictate its auto prices and get into retail with a vengeance,’ according to a recap of the radio show on”
Sirius should act while XM is in a period of relative weakness, the newspaper quoted him as saying. It went on to note that Mel Karmazin has stated he thinks regulators would never allow such a combination.