TITLE

Karmazin Calls Sat Merger 'Uphill Battle.'

AUTHOR(S)
Gilroy, Amy
PUB. DATE
June 2007
SOURCE
TWICE: This Week in Consumer Electronics;6/4/2007, Vol. 22 Issue 12, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Sirius Satellite Radio chief executive officer (CEO) Mel Karmazin discussed the obstacles to the proposed merger of Sirius and XM Satellite Radio during the company's annual meeting. Although Karmazin still believes that the merger should be approved, he mentioned that financial experts estimate that there is an 80% chance that the U.S. Justice Department and the Federal Communications Commission will not approve the proposed merger. In contrast, XM CEO Hugh Panero remains confident that the planned merger will get regulatory approval. Karmazin said that should the merger not push through, Sirius will still be a successful, profitable company.
ACCESSION #
25374875

 

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