Cramer: No Real Wins in Satellite Radio

This column was originally published on RealMoney on March 21 at 12:11 p.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

What happens if the government doesn't let Sirius(SIRI Quote) merge with XM Satellite(XMSR Quote)?

I believe the two will continue to battle it out until one guy's belly-up.

Whoever is left standing will then be able to raise rates and cut what it pays for talent. It will be a huge win for the one left standing, even if by then the stock is appreciably lower from the bleed-out. And it will be a huge loser for the consumer. ...