Part of one of my 2007 predictions just came true.  Sirius and XM just announced a merger.  The NAB immediately criticized the merger.  The broadcasters have enough influence in Washington to nix this if it really were a huge issue (as I predicted) but it may be that it squeaks through.   Perhaps they work out a deal in which the NAB allows the merger to go through in return for  a renewed agreement not to go after local markets, which are the bread and butter of terrestrial radio.  XM & Sirius haven't done much in local as of yet but initiatives like having dedicated channels for certain cities and having repeaters have made the broadcasters nervous.  The announced price represents a 21.7% premium on XM's stock and it will be interesting to see how far off this XMSR trades tomorrow.  The discount will represent the market's opinion on whether the FCC will let the deal through.