oregonduck

Will Tate Approve Radio Merger with $20 Million Fine?

I would not rule out a judicial review by the NAB. I think they are desparate to do anything and will file it the same day the order is entered by the FCC.

I think it is likely and that the press will make a big deal out of it. That is why XM is moving fast to consummate the deal by selling bonds to refinance notes so that they can argue to a court that they would be irreperrably injured by a frivolous judicial review and request for a stay by a non-party appellant. It is hard to say how the street would react. We need to have lawyers by the Sirius and XM people jump in prepared to argue that any appeal would be frivolous and merely seen as a politically motivated attempt to make the cost higher to subscribers and ruin the football seasons of XM and Sirius subscribers. They nees to have the PR people on deck.

Will Tate Approve Radio Merger with $20 Million Fine?

I am also a lawyer who does admistrative law as well as litigation. Under Federal Administrative law, the NAB would file a petition for Judical Review with the DC court of appeals and would have to ask the court for a stay of the FCC decision. They would have to show a strong probability of success.

These are hard cases. The FCC would be represented by the US Solicitor Generals office and they would be bound to defend the decision. The Standard of Review, becuase this was a fact intensive review, is "abuse of discretion" and "substantial evidence"--that is, if there is a "scintilla of evidence" that supports the findings of the FCC that it was in the public benefit to grant the licence amendment to allow both XM and Sirius to have a license, then it will be upheld. The courts cannot substitute their judgment for that of an agency. They can only review errors of law. The FCC did not make independent legal findings related to the issue of whether XM-Sirius was a monopoly. That was the Justice Department. Since the Justice Department is not pushing the issue, it is a non-issue. A non-governement party does not have standing to bring a antritrust claim in an FCC administrative licensing proceeding, IMO. With the fact that it is a "concent decree",--basically a contractual agreement between XM-Sirius and the FCC that also makes this really hard to appeal for the NAB. That is why they are so pissed.

I think that a lawsuit will go no where. When I advise clients to do an appeal of an administrative case, we always have to appeal on issues of legal error. This is a case where there is no real legal error.

FCC Commissioner Copps Votes "No" to Radio Merger: No Surprise

Repeater issue is right. Fcc filings with tates office last week were fcused on the repeater issue. Also, Mel met personally (one on one) with Tate last week, according to Ex Pate disclosure filings with the FCC.

XM's Pre-Announced Q2 Results May Hold Merger Clues

Copps should be removed for Fraud, incompetence, and collusion with the NAB.

There--that feels better.

Also, hes a cop. Probably a traffic cop. I cant stand traffic cops.

Why the Wild Trading in XM and Sirius

Filings at the FCC today show a lot of meetingw with Tate friday and Monday. Mel met with Tate personally on the 18th. I think that the deal is going to be announced Wednesday. If Mel says no deal, I had better be by a computer, becuase all of my limit sells are on the top side, I dont have stop limits in place.

Has the FCC Gone Communist?

Quit whining and threating to vote for Obama. No one who seriously invests in the stock market and wants to make money would really want to vote for a guy who would raise cap gains by 13% and call all of us wealthy just because we have money to invest. But, to each his/her own.

Adelstein is talking from Georgetown partners talking points. Directly. He knows that there are 3 yes votes. He is trying to extract conditions. Sirius knew that they would have to give up something and they will give up 50 channels and 4 years of price freezes. Big deal. They will gain that many subscibers who will be willing to sign 4 year contracts for fixed prices over that term. How many of those customers will know that those were legally required? They can market it that way. A la cart will not be included in the fixed price deal. Also, I can see porn channels coming out in a la cart that could be charged at premium rates. (yes....porn.) If cable can do it, why cant radio?? They could charge 40 bucks a month for 5 porn channels.

Sirius and XMSR's Six Year Prison Sentence

See article above--this is a trap! Sirius cant go along with it becuase it will lead to endless litigation and enforcement actions. Also, these "negotiations" will take forever. They have been "negtiating" for months. Look at all of the ex parte communications. What do you think they have been talking about? Adelsteins hair products?! I think that Tate needs to get her ass off the pot!!

Sirius and XMSR's Six Year Prison Sentence

Tate is letting Adelstein be her cover while she looks pretty. What a coward. She will just vote with the guys. What a RINO.

Sirius and XMSR's Six Year Prison Sentence

New News:

FCC Commissioner Calls For Negotiations On XM, Sirius Deal

Jul 18, 2008 12:05:04 (ET)



WASHINGTON (Dow Jones)--A Federal Communications Commission commissioner who could be the deciding vote on a pending merger between XM Satellite Radio Holdings Inc. (XMSR) and Sirius Satellite Radio Inc. (SIRI) wants to negotiate with the companies on additional concessions and enforcement mechanisms, according to an FCC person familiar with the offer.

Commissioner Jonathan Adelstein has requested that the merged entity set aside 25% of its airwaves for minority-run and public service programming, more than three times the 8% the two satellite companies have already agreed to.

But Adelstein may be willing to sign off on the deal with a lower set-aside, as long as it's higher than the current offer and represented as a percent of spectrum rather than a set number of channels, the person said.

High definition, or HD, radio could be a critical factor in this calculation. In his offer, Adelstein joined with several lawmakers in asking that the new satellite radios be equipped to receive HD radio.

Adelstein's HD radio proposal would only apply if the new radios were being subsidized by the merged company through customer rebates or other cost-lowering mechanisms.

Minnesota Democrats and House Energy and Commerce Telecommunication Subcommittee Chairman Edward Markey, D-Mass., have said the satellite radios should be equipped with HD radio in all circumstances.

If at least some satellite radios were able to receive HD radio, that could go a long way toward appeasing lawmakers who are concerned about preserving public service channels.

Adelstein also wants the merged entity to make available the technical specifications of its new radios within 60 days after the merger, as opposed to the one-year time frame they agreed to with FCC Chairman Kevin Martin.

Adelstein's offer also calls for the new company to be monitored by an independent agency to ensure that it is allowing manufacturers easy access to information needed to make their own radios.

If Adelstein signs off, he would be the third commissioner on the five-member body to agree to the merger, which was approved by the Justice Department in March. Martin and Commissioner Robert McDowell have already voted in favor of the merger with certain conditions, including a three-year price freeze for subscribers.

Adelstein and Markey both are asking for a six-year price freeze.

XM and Sirius didn't respond for comment.

Shares of XM were up 16 cents at $8.60 and Sirius was up 14 cents at $2.24 in recent trading.

Radio Is Doomed - Tear Down the Broadcast Towers

Adelstein says yes--we are over the hump!!!

XM / Sirius: Cowen Sees Approval Soon

Sirius/XM is NOT ON THE AUG 1 AGENDA.

hraunfoss.fcc.gov/edoc...

Hopefully, they will announce it before the meeting.

XM / Sirius: Cowen Sees Approval Soon

It is quiet. No activity at the FCC and no filings since the 14th. Is Tate through fingering herself yet?

Wall Street Breakfast: Must-Know News

This article indicates that the SEC will even implement more stringent rules regarding Naked short selling for the broader market, not just certain stocks. I think that this will really help turn the tide and give the longs some traction.

www.ft.com/cms/s/d28fc...

Financials: Don't Believe the Rumors

But--how will the shorts be injured with the limits on Naked short selling being implemented tomorrow? A lot of them wont know about the new rule and that will allow a rally IMO.


On Jul 15 09:29 AM friend wrote:

> The short sellers are raging an attack at the financials to an extent
> of damage , worse than the 911 terrorist attack .
>
> The only difference is that the short sellers are much stronger than
> the defenders .
>
> Yes , it is a financial war and not just a market of supply and demand
> .
>
> All bank stocks are commonly seen sliding over 5% in price in just
> about 2 hours time , regardless the financial strength of each individual
> bank .
>
> Such strong concerted power can only be released by a conspired group
> of short sellers .
>
> Conspiracy is criminal .
>
> Panic catch on by the general public and the price went down further
> .
>
> The defenders of price become weaker due to their loss of equity
> .
>
> Lowering price or equity , credit crunch , weakening economy all
> come into a vicious cycle and domino effect .
>
> Such huge depletion of pricing has nothing to do with the value of
> the bank stocks .
>
> Some banks are paying dividend at a rate of more than 20% to the
> now depleted price .
>
> Yes , they would cut dividend in the next quarter while their equity
> is cut tremendously by the invincible short sellers .
>
> Strong defenders are needed to buy against the short sellers so that
> the badly depleted price can be pull back . The confidence of investors
> would be accordingly restored .
>
> The Fannie / Freddie stocks are immensely important in strategy .
>
>
> Should the Fannie / Freddie stock pricing be stablized , the pricing
> of the rest of the financials are less easy to be pull down further
> .
>
> The equity values of the two are of immense importance to the passing
> of the mortgage rescue plan .
>
> The mortgage rescue plan would then help to stablize the housing
> market .
>
> I know for the fact that some government did encounter a similar
> financial war .
>
> The same government stepped in to buy against the short sellers by
> setting up a trust funds using the taxpayers' money .
>
> The same government won and made money for the trust funds as a result
> that the pricing grow back to normal .
>
> The shortseller lost a huge chunk of money and disappeared .
>
> All those bad news the shortsellers used disappeared as well . <br/>
>
> Can the good guys win the war ?
>
>
>
>

Wall Street Breakfast: Must-Know News

Naked short selling is history as of opening bell tomorrow. As my suspicions tell me that Etrade, as well as other financials, have been victimized by "Naked" short selling, we may see some releif.

news.yahoo.com/s/nm/20...




On Jul 15 04:56 PM RightinSanFr ancisco wrote:

> Unfortunately, over the next several years we will need to work through
> two economic realities:
> 1. We will need to export as much as we import. The dollary must
> decline.
> 2. We are major debtors at personal and governmental levels. Thankfully
> corporate balance sheets (ex banks) are fine.
>
> Aside from the level of pain and the duration, a big question will
> be whether we stay as committed to free market capitalism. Pessimists
> would say - not in a democracy.