Will we see this merger?
I am an investor in Sirius and a subscriber who believes in/enjoys the product--just getting this out of the way. I have been patient through this entire process; frustrated--oh yeah, but patient. Now, I'm tired. It makes no sense, but I am. I have been checking the web (what....maybe 25 times a day) for Sirius merger updates since October last year. U all know the timeline if you are in this forum. DOJ approval in late, March, and here we sit, July 1, waiting on the FCC. The longer this is drawn out, the more negative news/views are expressed. What should be good news (the DOJ approval, the Martin comments 3 weeks ago, and today's ML upgrade) does nothing for the position. I actually was giving the FCC the benefit of the doubt; I felt that they maybe hadn't started to review the merger until the DOJ acted. Okay, reasonable. Then they needed time to sort through the process, hearing 'both sides' (mainly the NAB and Georgetown Partners, of course), and needed time to craft the legal papers--whatever those need to be. I believe that Mel can't truly speak until the process is complete. Again, reasonable. But, while we hear daily from opponents of the merger, why haven't we heard from anyone who supports the merger? All 100 Senators are against this merger? Seriously. Just venting here. Time for another glass of wine.....oh, and maybe one quick trip through siriusbuzz.com and orbitcast.com just in case any new news is out there (LOL).
Welcome to the forum. I think we can all relate. Stalking the headlines day in and day out is exhausting. We are bombarded with the same tired old news story, and the same tired arguments. But it's hard not to "turn it off" when especially when its impacting your portfolio.
This process certainly has been drawn out, and a lot of poeple have tried to exploit it for their own gains. But don't downplay the significance on this kind of transaction. Its going to have some major impact for consumers, and for the industry. And with the political powers at play here, and plenty of ammo in the history of SDARs, it makes this whole thing a political minefield. (Not to say that the delay is necessary or justified, but it's pretty clear at least why its happening)
For what its worth, I think it will come through eventually, and I think we are in fact close. I really believe that we will be hearing the final vote from the FCC within the next two weeks.
At this point in the ballgame, a decision, be it this week or two, cannot come soon enough!
I think we're all with you on this one. Owning stocks in general can be difficult, especially during tough times like now, but owning Sirius during this period has been practically gut-wrenching. The stock has been subject to way too much manipulation during this period, and many investors have obviously decided to take their losses and move along. I've thought about it a time or two, but instead have stuck it out and averaged down.
I've thought the merger was on the verge of happening a few times before now, only to have it delayed again. But I think this time is different. A vote is in circulation, a definite 2 votes and possible 3rd are in. We are almost there. My hope is also within the next two weeks, although I'm prepared for another month or two at worst.
The wild card is Tate. As mentioned in the other thread, she holds the power now, and she may require some negotiation. She will approve, however. There is no way she goes against the GOP and the DOJ. The question is whether she approves as is or requires more from XM Sirius.