LegalNewsLine Logo  
Saturday, July 4 2009     Subscribe in NewsGator Online
News | Contact LegalNewsline | About Us | Advertise | RSS
Enter search keyword
 
NEWSLETTER
Receive our FREE weekly newsletter
click here
LNL MOST POPULAR ARTICLES
+ U.S. Supreme Court sides with white firefighters in race bias case
+ U.S. Supreme Court: State AGs may probe national lending practices
+ King: Rethink GM bankruptcy plan
+ Obama says Supreme Court 'moving the ball' on affirmative action
+ McKenna argues against federal preemption of consumer laws
LNL HOT TOPICS
+ Asbestos
+ Bankruptcy
+ Big Pharma
+ Class Action
+ Dickie Scruggs
+ Financial Crisis
+ Gasoline Prices
+ Global Warming
+ Hurricane Katrina
+ Lead Paint
+ Personal Injury
+ Sub-Prime Mortgages
State AGs 
 
AGs unite for probe of XM-Sirius merger
Dann
WASHINGTON, D.C. - Eleven state attorneys general are demanding the Federal Communications Commission review the proposed merger between two satellite radio giants.

Claiming the merger between Sirius and XM, will create a singular giant on the marketplace, the attorneys general wrote in a letter FCC Chairman Kevin Martin Thursday.

"The combination of these companies will result in a single corporation controlling access to all nationally-available satellite radio," wrote the AGs, led by Ohio's Marc Dann.

"Given the national footprint, we are disappointed that the Department of Justice Antitrust Division would permit this merger to proceed unchallenged or without the imposition of appropriate terms and conditions that would reduce the proposed transaction's anticompetitive impact, such as the divestiture of spectrum to allow the entry of a new entity into this market."

XM and Sirius reached the agreement in Feb. 2007, and the U.S. Department of Justice decided Monday to close its investigation of the merger. It says no consumers or competitors will be harmed.

The FCC must also sign off on the merger.

"If this deal is allowed to proceed, Ohioans and radio listeners across the country will be forced to listen to limited programming offered by a monolithic entity at prices set in a monopolistic environment," Dann said.

"The antitrust laws were enacted to prevent deals like this. Since the (DOJ) didn't use those laws to prevent this monopoly, the FCC should use its powers to protect the public interest."

Joining Dann in the letter were Connecticut's Richard Blumenthal, Iowa's Tom Miller, Maryland's Doug Gansler, Mississippi's Jim Hood, Missouri's Jay Nixon, Nevada's Catherine Cortez Masto, Oklahoma's Drew Edmondson, Rhode Island's Patrick Lynch, Utah's Mark Shurtleff and Washington's Rob McKenna.

"Given that the FCC looks to a broader public interest standard than does the DOJ in fashioning its decisions in this context, we urge the FCC to address these important issues and give due consideration to the many concerns of the states," the letter says.

"Our offices stand ready to share with you our thoughts on the potential value of various remedial conditions available, such as mandatory publicly available interoperable receivers, a la carte pricing, and divestiture of spectrum."

The merger will be a tax-free union of approximately $13 billion. Each company's stockholders will own approximately 50 percent of the combined company.


Filed Under: State AGs


COMMENTS ON THIS ARTICLE:

No comments have been posted in the last 15 days!

SEND US YOUR COMMENTS ON THIS ARTICLE:


* - Required fields

Subject: *
Message: *
Contact Name: *
Contact URL:
Contact Email: *
This Is CAPTCHA Image
Write the characters in the image above: 

E-mail this article to a friend | Printer friendly format

MORE NEWS HEADLINES:
+ Five lead plaintiffs named in Bank of America class action - 7/3  
+ States join FTC in targeting business opportunity fraud - 7/3  
+ State AGs reach tentative agreement with General Motors - 7/2  
+ Another agrees to Cuomo's pension fund reform - 7/2  
+ Poultry producers seek to delay trial - 7/2  
+ Hawaii governor vetoes online tax bill - 7/2  
+ Mich. AG opposes Blue Cross Blue Shield rate increase - 7/2  
+ Blumenthal: DPUC agrees to cuts - 7/2  
+ Arbitrator says Nebraska owes Kansas $10k for water usage - 7/2  
+ N.J. reaches settlement with seventh moving and storage company t... - 7/2  


IN THE SPOTLIGHT:
Monday, June 29, 2009
WASHNGTON (Legal Newsline) - The federal government plans to withhold nearly a half-million dollars the next time it doles out Medicaid funding to the State of West Virginia as a result of a settlement engineered by state Attorney General Darrell McGraw.
Read more...


+ The Libby verdict: Did the judge play favorites? - 6/2
+ Sotomayor can expect plenty of scrutiny - 5/26
+ The Libby verdict: Prosecutors make a fatal mistake - 5/21
+ California judge accuses asbestos firms of playing 'grisly games' - 5/5
+ GOP calls for outside counsel reform in wake of Rendell controversy - 4/23
BROWSE BY STATE:
 
BROWSE BY AG:
 
BROWSE BY DATE:
 
LATEST LNL BLOG ENTRIES:
+ Abbott: Beware Dietary Supplement Scams and 'Miracle' Health Claims
+ Abbott's signs of a scam
+ AG McCollum on convicts in the mortgage industry
NEWS WIDGET:
Attention bloggers:
Add Record Headlines to your site!


fast + free- click here

NEWS | CONTACT LEGALNEWSLINE | ABOUT US | ADVERTISE | RSS © 2008 LegalNewsLine.com. All Rights Reserved.