Cramer's 'Mad Money' Recap: Sirius-XM Merger Inches Closer
06/16/08 - 07:53 PM EDT
TheStreet.com Staff
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Jim Cramer told viewers of his "Mad Money" TV show Monday, that the proposed merger between Sirius Satellite (SIRI Quote - Cramer on SIRI - Stock Picks) and XM Satellite Radio (XMSR Quote - Cramer on XMSR - Stock Picks) is finally closer to becoming a reality. Cramer's optimism came after FCC Chairman Kevin Martin recommended approval of the satellite radio merger. The deal, now one year and 119 days old, has been a point of contention for Cramer, who has argued that the combined entity would be a boon for the companies and consumers. With a photo of the five FCC commissioners in tow, Cramer said the vote will be close with the deciding ballot apparently in the hands of Commissioner Deborah Taylor Tate. He once again ran over his arguments on how a combined Sirius/XM would benefit everyone except the old guard, terrestrial radio. According to Cramer, the issue is not about choice for consumers. In an age of iPods and digital downloads, Cramer dismisses the argument that consumers need two satellite carriers to bolster competition. "This is about whether or not we have satellite radio at all," he said, adding that XM most likely will not survive without a merger.
Cramer: Don't Call XM-Sirius a Done Deal |
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