Sirius and XM think ‘we have made the case’ that merging the sate...
Sirius and XM think “we have made the case” that merging the satellite radio networks “serves the public interest,” Sirius CEO Mel Karmazin told analysts Tuesday in a quarterly earnings call. Sirius and XM weren’t able to achieve their…
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goal of closing the merger in 2007, the companies still “look forward to a fast, positive ruling from the government,” he said. XM and Sirius hoped by now to be discussing implementing their merger, but haven’t gotten FCC or Justice Department approval, Karmazin said. “We are optimistic that we will hear favorable information from them in the near future.” Sirius won’t forecast its 2008 financials or beyond until there’s “regulatory clarity,” he said. In Q-and-A, Karmazin said he has nothing new to say of talks with the DoJ. “We wait by our telephone but we really have not heard anything from them,” he said. “It has been more radio silence than anything else.” Sirius ended 2007 with 8.32 million subscribers, up 38 percent from 2006, the company said. But retail subscribers grew only 15 percent to 4.64 million. In 2006, retail subscriptions jumped 64 percent.