Playing Their Song

Louis Lanzano

Radio shock jocks Greg "Opie" Hughes, left, and Anthony Cumia, right, greet fans as they leave CBS Radio studios on 57th Street after finishing their first morning show for a one block walk to the XM satellite radio studio while broadcasting live on XM, Wednesday, April 26, 2006, in New York. The "Opie and Anthony Show" returned to CBS Radio in seven major markets and will continue to be heard on XM satellite radio. (AP Photo/ Louis Lanzano)

After months of speculation, XM Satellite Radio Holdings and Sirius Satellite Radio , the only two existing federally licensed satellite radio companies, could merge successfully if they can overcome regulatory hurdles.

Analysts say government approval of the proposed $11.4 billion plan depends on the definition of the relevant market place in terms of competition and rapid changes in media technology: the broader the market place and the more forward-looking, the more likely it will be approved. Sirius and XM will have to prove that their merger will not constitute an illegal monopoly because they compete in a broader market place with digital media products such as the iPod and other mobile devices that deliver similar content to them. In other words, the world is a different place than when the rules explicitly preventing a merger were written.

Watch CNBC coverage on this topic.

What's the Frequency?
The prospects of a merger is making the choice between XM and Sirius much harder, with Paul Heine, Radio and Records managing editor and CNBC's Carl Quintanilla.
^{Wed. Feb. 21 2007 | 7:20:00 AM [03:35]}

Merger of Equals?
The likelihood XM and Sirius will be able to pull off a merger against the wishes of the National Association of Broadcasters and others, with Josh Kosman, DealReporter consulting editor and Thomas Burnett, Wall Street Access director of research.
^{Tues. Feb. 20 2007 | 2:23:00 PM [04:17]}

Sirius Hurdles
Exploring the high regulatory hurdles the two satellite radio providers must overcome in order to merge, with correspondent Hampton Pearson and "Squawk Box " anchor Carl Quintanilla.
^{Tues. Feb. 20 2007 | 11:15:00 AM [02:02]}

Sirius & XM
CNBC correspondents Julia Boorstin and Liz Claman discuss the possibility of a Sirius-XM merger - and the significant regulatory hurdles that must be cleared first - with media regulatory analyst Blair Levin of Stifel Nicolaus Telecom and Tuna Amobi, S&P analyst.
^{Tues. Feb. 20 2007 | 10:01:00 AM [07:43]}

Satellite Radio Analysis
CNBC News Desk Editor, David Faber and Kit Spring Stifel, Nicolaus Satellite Analyst, discussing the potential ramifications of a merger between XM and Sirius.
^{Tues. Feb. 20 2007 | 9:07:00 AM [05:59]}

The Faber Report
CNBC News Desk Editor, David Faber, parsing the possibility of an XM and Sirius merger actually making it past government regulators.
^{Tues. Feb. 20 2007 | 8:05:00 AM [04:30]}

Satellite Merger?
CNBC's broadcasting & media analyst Becky Quick interviews David Bank, RBC Capital Markets managing director.
^{Tues. Feb. 20 2007 | 6:03:00 AM [04:33]}