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Thread: Breaking News WSJ: Merger Complete Thurs?

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  1. #1
    zcurzan is offline
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    Breaking News WSJ: Merger Complete Thurs?

    BREAKING NEWS:
    FCC chairman says agreement reached to approve XM-Sirius merger. Vote could happen Thursday. Full story to follow shortly.
    http://online.wsj.com/public/us

    At the top in red. That's all I got. Hope its new news and not just a rehash of all the events that have transpired since yesterday.

  2. #2
    voogru is offline
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    I think I'm gonna cry.


  3. #3
    zcurzan is offline
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    LMAO

    Please tell me you made that

  4. #4
    voogru is offline
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    Quote Originally Posted by zcurzan View Post
    LMAO

    Please tell me you made that
    yes I did.

  5. #5
    zcurzan is offline
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    Quote Originally Posted by zcurzan View Post
    LMAO

    Please tell me you made that
    new avatar?

  6. #6
    voogru is offline
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    Quote Originally Posted by zcurzan View Post
    new avatar?
    The YOU HAVE - > PLEASE DIE end up being too small.

  7. #7
    zcurzan is offline
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    NEW YORK, July 24 (Reuters) - Commissioners at the Federal Communications Commission have reached an agreement to approve Sirius Satellite Radio Inc's (SIRI.O: Quote, Profile, Research, Stock Buzz) purchase of XM Satellite Radio Holdings Inc (XMSR.O: Quote, Profile, Research, Stock Buzz), the Wall Street Journal reported on Thursday.

    Republican commissioner Deborah Taylor Tate agreed to cast a tie-breaking vote in favor of the deal after winning several concessions from the companies involving enforcement issues.

    "I think it's fair to say an agreement in principle has been reached," FCC Chairman Kevin Martin was quoted by the Journal as saying.
    http://www.reuters.com/article/marke...0080724?rpc=44

  8. #8
    zcurzan is offline
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    I almost wish all these headlines hadn't hit. For one, now time is passing ridiculously slow. It's almost painful. But secondly, I think it would have been really interesting to watch the market react if a bomb was simply dropped on them in the middle of a trading day.

  9. #9
    seraphim77 is offline
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    Question

    I thought these headlines would bring on a buying surge. Now that Martin says he's reached an agreement for Tate's vote, the stocks get sold off. What ever happened to the much anticipated "pop"?

  10. #10
    zcurzan is offline
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    Well I think part of it is that its not entirely a closed book at this point.

    The PR yesterday made the point of saying that there is no guarantee that the consent decree terms will be accepted, etc. (Legalize IMO) However I think the real reason is that this stock will not have any kind of significant movement until the powers that be decide that it should. And they are always going to play on the fears of retail investors, particularly the uninformed. When you see "investors" referring to 'Commissioner Cobbs' its not a far leap to assume that they have no real grasp on issues that this company is (will be) facing, and simply trade based on AP headlines, and share price movement. I also don't think Wall Street is going to let a big media consolidation slip by without getting a piece of the pie either through positioning themselves for the long haul, or trading on the pop.

    "The headlines say approved and we are trading down? This sucks I'm selling."

    Many analysts have been very positive on the prospects of the company recently given the concession terms in all the news releases. And I think we will see a spike the same way we saw with DOJ approval, but any higher movement will be really short lived.

    If I had to guess on where we end up going forward, I'd say we settle in on a $3 basement, and move up from there as the combined company can prove itself or otherwise show some real progress. I hope Mel has an ace up his sleeve.

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