WSJ Credits Hazlett Report for Leap in Market Value of XM and Sirius Stocks
Financial press outlets, including The Wall Street Journal and Barron's, are crediting Professor Thomas W. Hazlett's report supporting a merger between satellite radio giants XM Satellite Radio Holdings and Sirius Satellite Radio with producing a $550 increase in market value of those companies' stocks.
Hazlett, a former chief economist of the Federal Communications Commission and internationally recognized expert in telecommunications policy, stated in his report prepared for the two satellite radio companies that a merger would not stifle competition in the broadcast sector. Instead, said Hazlett, the result would be that consumers would benefit from better pricing and programming.
Nasdaq Climbs 2.1% for the Week; Intel Shares Rise on Analyst's Upgrade, The Wall Street Journal, June 15, 2007. By Andrew Lavallee and Emily Flitter.