Sat radio merger 'ludicrous'


A report released Tuesday by media research company the Carmel Group calls arguments in favor of a combination of Sirius Satellite radio and XM Satellite Radio "ludicrous" and "selfish." Opponents of the proposal, including the National Association of Broadcasters, which retained the Carmel Group's services, said the deal will create a monopoly. In addition, the Carmel Group argued that approval of the deal could set a precedent for cable operators and other industries seeking to consolidate. The research firm is known for helping to kill the 2003 combination between satellite television companies EchoStar Communications Corp. and DirecTV Group Inc.