Interesting comments by Mr. K. at the Citigroup Global Entertainment, Media and Telecommunications conference in Phoenix on Tuesday.  Here are some highlight from Silicon Alley’s coverage.

“I can tell you there is no decision at the Department of Justice. Timing: I have no idea. I’m not going to give it a guess. This is a deal is ripe to be granted and we should be able to close. We will probably close the evening we get FCC approval. We have been waiting so long we are ready to close.”

On post-merger synergies: “I can tell you that it is in the hundreds of millions of dollars; the value of the efficiencies are greater than the market cap of one of the two companies,” Karmazin said.

“What is going to make us a winner is that we have the best radio on radio. I am betting that radio is going to continue to be a business. We are going to be a successful radio company and our content is going to drive it. The Howard Stern deal–and I didn’t do it, I walked into the company after it was done–I will tell you it more than pays for itself.”

He says don’t expect Congress to support royalties for terrestrial radio (as the music labels and the RIAA want) because it would be terribly unpopular in an election year.

Posted by RoadRunner on Wednesday, January 9th, 2008 at 1:07 am.
Filed in Merger, FCC, Satellite Radio, Stock, Sirius.
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