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If Martin waits until after returning from his trip to send an order to other commissioners, that would mean the agency would only conclude its review by July. Even if Martin provides his decision to other commissioners before leaving on his trip, conclusion of the review could still take place in July. - 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. CategoriesComments Deal Video
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Federal Communications Commission Chairman Kevin Martin has scheduled a trip to meet other regulators in Asia in mid-June, a situation that could further delay the agency's completion of its $13 billion merger of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc.
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Martin said on TV the other day that SIRI/XM are asking something special..i.e. a merger that they had agreed with FCC when the companies were started will be prohibited.
Now wait a mimute!! It took him over a year to come to this conclusion?? What was he trying to do? Sit on the merger until DOJ rejected it, so he would not have to rule on the merger because of vested interests do not want a merger? Now that DOJ has said there is no anti-trust problems and the merger can go forward, he is in deep upto his neck in you know what. He thinks now that his only chance not to rule on this merger is to wait it out in the hope that (a) the merger will be called off or, (b) that XM will go out of business.
There should be a law that decisions should be made within a certail time frame or else the merger is approved.
What is congress doing?? Nothing!!