Last updated: February 21, 2008 - 10:24am
MINORITY-LED INVESTOR PROPOSES XM-SIRIUS MERGER VARIATION
[SOURCE: Broadcasting&Cable, AUTHOR: John Eggerton]
With talk in some quarters that the Justice Department could rule on the XM Satellite Radio-Sirius Satellite Radio merger as early as next week, minority-owned investor Georgetown Partners was meeting with Federal Communications Commission officials Friday pitching a restructuring of the deal. Georgetown agrees with Rev Jesse Jackson that the deal "fails to meet any definition of serving the public interest." But the company argued that it could be made to serve that interest. Georgetown is proposing that the FCC condition the deal on requiring XM/Sirius to lease infrastructure and channel capacity to a minority-controlled entity -- say, one backed by Georgetown -- that could provide "effective competition."
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