The FCC’s embarrassingly long review of the Sirius-XM satellite radio merger continues. The latest: Democrat commissioner Jonathan Adelstein has voted against the merger, putting it in a 2-2 tie, according to the AP.
Why? Because the absurd conditions Adelstein recommended didn’t get any support. Why not? Because they’re absurd! As we mentioned yesterday, via the Motley Fool:
Adelstein is looking to freeze subscription rates for six years, with 25% of the channels earmarked for public-interest programming. He also stipulates that any subsidized receivers must also allow for the open reception of HD radio.
We repeat: What are we going to do with 25% of channels serving up public-interest programming? More to the point: Why would we pay for that?
The year-and-a-half-old merger is now up to Republican Deborah Taylor Tate, the lone undecided commissioner. Judging by Adelstein’s remarks today, we think she’ll approve it. And given the pathetic state of the satellite radio industry, she’d better. Via Orbitcast:
“I was hoping to forge a bipartisan solution that would offer consumers more diversity in programming, better price protection, expanded choices among innovative devices and real competition with digital radio,” Adelstein said in a statement. “Instead, it appears they’re going to get a monopoly with window dressing. We really missed a great opportunity to reach a bipartisan agreement that would have benefited the American people.”
XM Q2 In-Line, Still Waiting On Ridiculous FCC Approval For Sirius Merger
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What Happens To XM (XMSR) And Sirius (SIRI) After A Merger? Not Much, And That’s A Problem