Satellite Radio Looks Like a Fight to the Death

Maybe the FCC has a plan with XM Satellite Radio (XMSR - commentary - Cramer's Take) and Sirius (SIRI - commentary - Cramer's Take), and the plan is to let them go bankrupt, or at least let one go bankrupt and go off the air. The longer it has stalled this merger, the longer it is obvious that the real agenda might be to wipe one of the two out and bring in a competitor that can make things tougher for the survivor.

Everyone who owns these stocks should know that the common stock of both worked only if the FCC acted and let the two companies refinance and keep the common stock. Now that XM has money that is due for contracts, if the FCC stalls anymore and doesn't act now it is pretty much over.

I should have realized this a long time ago, that by doing nothing the FCC makes the whole debate moot. It simply doesn't matter what happens if it does nothing.

If one of these two runs out of money, obviously the FCC will still delay the merger, and the decision is solved.

Could the FCC be this diabolical? I think yes, given that Justice approved this deal months ago.

Random musings: The bank scenario is playing out. The anti-commodity folks are going to get their way. I hope they are plenty happy!

At the time of publication, Cramer had no positions in stocks mentioned.

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