Many of us are concerned about what the prospects of XM and Sirius Satellite radio companies merging affecting the content of both companies as they become a monopoly in this space (in particular the two progressive talk channels between the two services).
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=2266462&mesg_id=2266462At least one good item was announced yesterday when it was announced that George Soros's investment firm bought a heavy stake in both companies. So we do have at least one significant shareholder we can petition if they start trying to cannibalize channels that weaken the diversity both services currently offer universally over the country to help provide alternatives in many local markets (like here in San Diego), where now privately owned monolith Clear Channel looks to be on the warpath towards silencing the investments they earlier made in progressive talk stations now.
From:
http://seekingalpha.com/article/54328-george-soros-buys-stake-in-sirius-and-xm-satellite-radioGeorge Soros Buys Stake in Sirius and XM Satellite Radioposted on: November 15, 2007
Billionaire George Soros has taken a position in both Sirius and XM satellite Radio. The guru investor now has 1.21 million shares of Sirius and 103,265 shares of XM.
Famous for breaking the Bank of England, Soros has amassed not only a huge fortune, but a loyal following as well.
The investments into satellite radio come in the midst of the proposed merger between Sirius and XM.
Here's a later more detailed article. Still somewhat disturbing potentially is the various "tiers" of pricing, that perhaps will relegate talk channels into a far more expensive tier that will make them that much more unaccessable. It would be good to see what their proposed lineup would be at some point here.
From:
http://www.cnbc.com/id/21821835XM Chairman Hopeful for Approval of Sirius Deal
By Andrew Fisher | 15 Nov 2007 | 03:52 PM ET
On Tuesday, shareholders of both XM Satellite Radio Holdings and Sirius Satellite Radio voted approval of a $5 billion merger.
The deal got the support of Reed Hundt, who was chairman of the Federal Communications Commission when the two companies received licenses -- on the condition that they remain separate.
On Wednesday, billionaire investor George Soros reported in a regulatory filing that his fund had taken large stakes in both XM and Sirius.
XM Chairman Gary Parsons is hopeful about federal regulatory approval of the deal, which includes a variety of pricing plans based on the listening choices of subscribers.
...
The merger still needs the blessings of the Justice Department and the FCC.
FCC Chairman Kevin Martin has been a strong advocate of "a la carte pricing" by cable television providers. Parsons says the merger plan promises that -- and more.
"We offer a number of different packages: A music-only package, or a package that's family-friendly, so there's no adult content on there, and yet it's a lower price," Parsons said.
...