TECHNICAL ANALYSIS

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Research firm argues against Sirius, XM merger-NY Post

The Carmel Group, an influential research firm, will reportedly release a report today arguing against the proposed merger by satellite radio companies Sirius (SIRI) and XM (XMSR). The report, sponsored by the National Association of Broadcasters, concludes that approval of the deal by the US government will result in less service, less affordability, and fewer choices for consumers. The Carmel Group disputes the satellite radio companies' claim that they compete with a wide range of media, including terrestrial radio and Internet radio. Carmel, which also contends that competition has improved the services offered by Sirius and XM, is credited with helping to kill the proposed merger between EchoStar (DISH) and DirecTV (DTV) in 2003.