Sirius’ Karmazin Agrees to Merger Concessions
With the federal government looking into the Sirius/XM merger, Sirius Satellite Radio CEO Mel Karmazin told a Congressional committee Tuesday that his company is willing to make several concessions in order to make the merger work. These include initial price caps, varying rate plans, and rebates, Reuters reported.
Echoing earlier testimony from his many other trips to Washington in recent months, Karmazin also testified to the Senate Commerce Committee that the merger would not create a monopoly, because the combined company would be competing both with traditional terrestrial radio and with the nascent HD radio.
Meanwhile, the research association The Carmel Group and National Association of Broadcasters issued a study Tuesday arguing that the merger would lead to “less service, less affordability, less diversity and less choice in content and hardware,” the radio industry magazine FMQB reported on its Web site.