Sirius Optimistic About Merger Okay

Sirius is still hopeful to receive regulatory approval of the proposed merger with rival XM by year-end.
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Sirius is still hopeful to receive regulatory approval of the proposed merger with rival XM by year-end.

EVP/CFO David Frear said this week at the UBS Media & Communications Conference that no new issues were raised in the four congressional hearings held on the merger.

Frear also quipped that he was auditioning for a job; he said CEO Mel Karmazin, planned head of the merged entity, hasn’t picked a management team yet.

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Congress to Probe Satellite Merger

A new congressional antitrust task force will hold a hearing next week on the proposed merger of radio subscription companies XM and Sirius, according to a statement from House Judiciary Committee Chairman John Conyers, D-Mich.