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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR) -- Ignore unavailable to you. Want to Upgrade?

To: HEXonX who wrote (3298)	3/2/2007 9:14:22 AM
From: HEXonX	Respond to of 3386

News for 'XMSR' - (=DJ Sirius-XM Debate Affects Wider Media Consol: FCC's McDowell) By Corey Boles Of DOW JONES NEWSWIRES (This article was originally published Thursday) WASHINGTON (Dow Jones)--The debate over whether Sirius Satellite Radio Inc. (SIRI) and XM Satellite Radio Holdings Inc. (XMSR) should be allowed to merge could affect the larger question of media consolidation in the U.S., according to FCC Commissioner Robert McDowell. Speaking to reporters after an appearance at a forum hosted by the National Broadcasters Association, McDowell said that how the market is defined by authorities in analyzing the satellite radio merger question could prove significant to how competition in the overall audio media market is defined. "If we say that XM and Sirius shouldn't merge because there's not sufficient competition, does that mean there's not sufficient competition overall in audio? It depends on how you define the market," said McDowell. The Republican commissioner said he wasn't taking a position on whether the merger should be approved at this early stage in the process, but said that conclusions could be drawn about the wider market. Executives at Sirius and XM have argued that their merger should be allowed to proceed because they don't just compete with each other, but with all other forms of radio media. The two companies are the only licensed satellite radio firms, and opponents say the merger would create a government-sanctioned monopoly. McDowell said if the Department of Justice's antitrust unit, which would first have to approve the deal, and then the Federal Communications Commission were to decide there is a duopoly currently, then it could affect the agency's thinking on competition generally in the market. The issue of media ownership is one that provokes considerable interest within Congress as lawmakers are keen to be seen as defending local television and radio stations. "The issue of media consolidation crosses partisan lines and has united members of both sides of the aisle in the past few years against attempts by the FCC to relax media ownership caps in a single market," said telecom analyst Jessica Zufolo of Medley Advisors, in a research note published Thursday. The FCC is conducting a series of nationwide hearings into how the rules imposing caps on the number of radio and television stations that can be controlled by one company should be reformed. It still has at least three more hearings to hold and is not expected to come to any decisions until at least the end of the year. -By Corey Boles, Dow Jones Newswires; 202-862-6637; corey.boles@dowjones.com (END) Dow Jones Newswires March 02, 2007 07:32 ET (12:32 GMT) Copyright (c) 2007 Dow Jones & Company, Inc.- - 07 32 AM EST 03-02-07 Source: DJ Broad Tape