Adelstein: FCC should consider states concerns over XM-Sirius
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Federal Communications Commission member Jonathan Adelstein on Thursday said the agency should take into consideration the concerns raised by 11 attorneys general about the controversial all-stock $13 billion merger of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc.
Adelstein said the AGs' staffers told him the Justice Department did not give them an opportunity to air their concerns. The Justice Department approved the deal with no conditions, and the FCC's media bureau is still reviewing it.
FCC Chairman Kevin Martin declined to comment on when the media bureau's review of the deal might be completed and ready for commissioners to consider. According to The Deal's M&A Calendar, the merger agreement is set to expire on May 15, but it could receive another extension. - Ron Orol
Ron Orol is a Washington-based reporter for The Deal and author of Extreme Value Hedging: How Activist Hedge Fund Managers Are Taking on the World.
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Just great. A year and a half is not long enough apparently for this NAB puppet commish? Here's what I would do if I were Kevin Martin at this point. I would tell the dems they get NO concessions now! Put it to a vote and it passes 3 - 2! Obviously, Adelstein will continue to stall the process.