Gary Parsons, CEO of XM satellite Radio, is scheduled to appear on CNBC's Closing Bell today. Closing Bell airs at 4:00 PM Eastern, and Parsons is scheduled to appear. The segment is being billed as a merger update.
Recently XM and Sirius certified that they are in compliance with the Department of Justices second request for information. In theory, this means that the DOJ now has all information they need to arrive at a decision regarding the merger. Aside from the DOJ, Sirius and XM need to clear hurdles with the Federal Communications Commission (FCC) as well.
Sirius and XM have stated publicly that they anticipate wrapping up their proposed merger by the end of 2007.
Whether anything very revealing will be offered on today's CNBC broadcast is unknown, but what it will offer is a differing perspective than investors have seen to date. Most of the comments from the satellite radio companies have come from Sirius' Mel Karmazin to date.
Investors in satellite radio should make it a point to tune in the broadcast. CNBC is available on Sirius on channel 129, and on XM's channel 127.
Position - Long Sirius, Long XM