XM Satellite CEO Parsons Upbeat on Merger Approval
Gary Parsons, chief executive of XM Satellite Radio, is optimistic about approval for the proposed merger between his company and Sirius Satellite Radio -- but it's going to be a long process.
"Clearly, you would never enter into this unless you had a reasonable degree of confidence that you would in fact get the approvals," Parsons told CNBC's David Faber. But, "it's not a quick process. We think it's likely an end-of-the-year kind of time frame."
The combination would have to meet antitrust approval from the Department of Justice, but Parsons argues that the companies not only compete with each other, but with an "explosion of new alternatives to get music," from iPods and cell phones with streaming music.
As for the public interest, Parsons said that a merger would provide more choice and attractive pricing.
"You want to offer packages and capabilities of selection to pick and choose the content that is most attractive," he said.