Kevin Martin comments today......
Sep 28, 2007 (financialwire.net via COMTEX) -- September 28, 2007 (FinancialWire) Federal Communications Commission chairman Kevin Martin said that worries of Sirius (NASDAQ: SIRI) and XM (NASDAQ: XMSR) forming a monopoly if they are allowed to merge are unfounded.
Martin was responding to concerns placed forth by the National Association of Broadcasters, which supports companies including Disney (NYSE: DIS), and has come out against the merger. The NAB said that the combination of Sirius and XM could create a nationwide network for advertising which blocks out any rival groups.
Martin said that the NAB's fears are unfounded because XM and Sirius are broadcast nationwide and they do not advertise in local markets. XM and Sirius both play regional weather and traffic reports on their stations.