I am a Sirius subscriber and shareholder. After 18 months, the merger of XM and Sirius is finally approved by the FCC. What a relief. Sure, the stock price is in the toilet relatively but we aren’t in a great market either. I still feel great about the future of satellite radio and how it will continue to revolutionize radio as we know it. However, what continues to kill me is the FCC and its complete disfunction.
Just last week, the Federal Court struck down the FCC’s fine against CBS for the 2004 Janet Jackson boobie incident. In the reports, they found that 85% of all the complaints sent into the FCC on that incident were from forms produced by activist groups. Many of them in duplicate. Some using the same complaint up to 37 times.
And then this whole merger debacle, where it took 18 months to figure out if there was any monopoly at play. The real culprit behind this is regular radio. They have always been the monopoly. When satellite radio came on the scene, they thought it was cute. As more and more people switched, you started seeing the change. They started advertising against satellite radio. Then the war began. Now the satellite radio world is strong with over 18 million subscribers and more everyday. That only represents about a 10th of the market in the US. There is a long way to go. In the end, I hope terrestrial radio becomes a thing of the past. It was never worth what I paid for it.