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According to The New York Post, the research group that helped kill the Echostar (DISH) deal to merge with DirecTV (DTV) has crafted a report for the National Association of Broadcasts. The report gives a number of reasons that the federal government should reject the merger of Sirius (SIRI) with XM (XMSR).
The argument at the core of the paper from The Carmel Group is shows that "competition, even in a duopoly, forces improvements in service, choice and pricing" and that "consumers benefit when Sirius and XM compete to do a better job to earn and retain their subscriptions."
Sirius stock hit another 52-week low today at $3.08.
Financial analysts believe that the two companies may need the merger to cut costs. Both firms has loaded with debt and have not made money, at least on a GAAP basis.
Douglas A. McIntyre
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