Speaking at an industry conference on media convergence at the Museum of Television and Radio in New York, Sirius Satellite Radio Inc. CEO Mel Karmazin mused publicly that his firm might be interested in acquiring its only competitor, XM Satellite Radio Holdings Inc.
Karmazin allowed that the price would have to be right, and he acknowledged that regulatory issues might prevent a deal from being consummated.
Well, one would hope so. As much as I realize the Bush Administration has ushered in a period of elitist corporate cronyism in which government regulation appears to favor the rule of established behemoths over the principle of open competition, it’s difficult even for me to imagine that the Bush Administration would allow the merger of the only two companies in an industry.
Seriously, how would a merger of the only two satellite-radio firms in existence serve the interests of consumers or the principle of competitive market dynamics? The US government should not be in the business of blessing monopolies.
Twilight in the Valley of the Nerds 