The debate continues on the merger of XM (XMSR ) and Sirius (SIRI ) Satellite Radio as the case again comes before the Senate Committee on Commerce for round four since its original proposition in February. Opponents argue that the merger will create a monopoly, leaving a sole provider for satellite service to consumers. This, they argue, will lead to increased prices and decreased content. Advocates argue that the merger is necessary in order to compete against other technologies, including terrestrial radio, MP3 players, CD/DVD etc. The inference is that the battle between the two small companies for the limited audience is splitting the market and preventing its advance against the other technologies.
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| Could It be JP Morgan Buying Bear Common? |
| Written by David Neubert | |||
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Could it be a Holy Mystery, like they told you in Catholic school, for anything that couldn't be explained? Steve Randy Waldman at Interfluidity.com has another theory on why Bear Stearns (BSC - $5.94) is trading above the $2.00. He offers up god, oh I mean Jamie Dimon, channeling J.P. Morgan. Could The House of Morgan be the one buying shares above the deal price to vote them their own way? I love the idea but I see securities law problems with that theory. I don't think JP Morgan would risk that. I'll be watching to see what Mr Waldman comes up with next. Disclosure: I own BSC. I own Bear Stearn Preferred shares. I am short 10 strike calls on BSC and long 15 strike calls. I own JPM. I did not go to Catholic school.
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