Only days after Georgetown Partners had Jessee Jackson meet with FCC officials regarding their desire to enter the satellite radio arena without strings, the National Caucus And Center On Black Aged (NCBA) has had meetings of their own pressing the Georgetown Partners agenda.
Within the first paragraph of their filing with the FCC, I knew exactly where the NCBA was taking this. Sure enough, on the second page the NCBA stated, "We understand that a proposal by a minority controlled private equity firm, Georgetown Partners, squarely resolves the problems at the heart of this issue."
Now, to be perfectly clear, for me this is not at all about race. I could care less what race the players in this merger or these companies are. In fact, as public companies, there is no barrier whatsoever in who can participate in SDARS by investing.
NCBA seems to feel that minorities are not properly represented at Sirius and XM. Form executives to content, these companies have been quite open to the concept of diversity. In fact, in radio history, there has not been an example of more diverse programming than what Sirius and XM have done to date, and they add diverse programming all of the time.
I have nothing but respect for the bulk of what organizations such as NCBA do. I think that most tasks they undertake have value to the group that they represent, as well as human kind in general. The shame comes when they start to go down a path like they are in this merger process. Clearly this is an example of trying to use the system to gain something that they would not gain otherwise. Ibiquity is doing the exact same thing. The shame of this is that we are forced to entertain these fantasy's at taxpayer and investor expense.
Position - Long Sirius, Long XM