Investors “Worried” About XM/Sirius Delay
With government regulators’ consideration of the merger between XM and Sirius Satellite Radio continuing to drag, investors are getting increasingly impatient. That’s according to MediaBiz, the blog on CNN.com written by Paul R. La Monica.
The merger was called “imminent” in a report issued by Bear Stearns around Thanksgiving. However, nearly two months have passed since, with no decision from either the Department of Justice or the Federal Communications Commission in sight. The uncertainty has resulted in double-digit stock drops for both companies since November.
FCC Chairman Kevin Martin told the Wall Street Journal yesterday that he expects a decision on the merger some time in the first quarter of this year.