Is Cramer "Mad"? Perhaps Not...
Jim Cramer continues to push the idea of a merger between XM and Sirius.
It even made the New York Times Business section yesterday:
"Aug. 3, 20066:20 am
The Satellite Radio World, According to Jim CramerTOPICS:
Mergers & Acquisitions,
XM Satellite RadioINDUSTRIES:
MediaThe notion of a merger between XM Satellite Radio and Sirius Satellite Radio – in essence, the Coke and Pepsi of their industry — has been buzzing around Wall Street in the past few months, even though many analysts (not to mention Sirius chief Mel Karmazin) have called the idea absurd. Now, voluble market pundit Jim Cramer has thrown his weight behind such a deal. Speaking on his radio show Wednesday, Mr. Cramer said that if he could talk to one C.E.O. right now, it would be Mr. Karmazin. What would he say? He would tell him it is high time to make a bid for his company’s archrival.
Mr. Cramer justifies such a move this way:
more…"
Although this is an idea that I have dismissed in the past, primarily due to questions regarding FCC approval, I am now taking the suggestion more seriously due to rumblings about the possibility of a Direct TV (DTV)-Echostar (DISH) merger (check out their charts). The scenario is similar...just two satellite companies, with emerging competition from other technologies. Investors, watch this situation very closely...if this deal is approved, perhaps Cramer is not so "mad" after all.8/04/2006 10:45:00 AM
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