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.

Contact Closing Bell

  • Showtimes

    United States
    Monday - Friday 3:00P ET
    Monday - Saturday 21:00 CET
    Tuesday - Saturday 03:00 SIN/HK
    Tuesday - Saturday 05:00 SYD
    New Zealand
    Tuesday - Saturday 07:00 NZ
  • Bill Griffeth

    With almost 30 years experience in business television, Bill Griffeth is co-anchor of the 3 p.m. ET hour of CNBC's "Closing Bell."

  • Kelly Evans

    Kelly Evans is co-anchor of CNBC's "Closing Bell."