Analysts Now See XM/Sirius Passage as Likely
Despite much uncertainty in recent weeks, Wall Street analysts now say they expect the merger between Sirius Satellite Radio and XM to gain the approval of both the Justice Department and the Federal Communications Commission. That’s according to a report in Broadcasting and Cable, citing several top analysts.
One analyst with Bear Stearns predicted that Justice would approve the merger “in the next 30-45 days,” with the FCC approval likely to follow. Another analyst told B&C that unlike the failed DirecTV/EchoStar merger, which was opposed by numerous lobbies, the only major industry opponent of the XM/Sirius merger is the National Association of Broadcasters (NAB.)
It was reported late last week that the two companies have set Nov. 13 as the date for a shareholder vote on the merger.