WEBVTT - How the Merger of Sirius and XM Will Work

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<v Speaker 1>Brought to you by the reinvented two thousand twelve Camray.

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<v Speaker 1>It's ready. Are you get in touch with technology? With

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<v Speaker 1>tech stuff from how stuff works dot com. Hey there,

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<v Speaker 1>welcome to the podcast. My name is Chris Poette. I'm

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<v Speaker 1>an editor here at how Stuff Works, and today I

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<v Speaker 1>have with me Jonathan Strickland, a writer. Hey there, it's

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<v Speaker 1>my radio voice. All right, Speaking of radio, we're today

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<v Speaker 1>we're going to discuss a topic that's near and dear

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<v Speaker 1>to my heart, which is satellite radio. And I should

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<v Speaker 1>confess that it's near and dear to my heart for

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<v Speaker 1>a couple of reasons. One, I've been a satellite radio

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<v Speaker 1>subscriber since two thousand and two. I am also, I'm

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<v Speaker 1>honestly on the on you know, sake of clarity, I

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<v Speaker 1>am a stockholder of what is now Serious XM Radio

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<v Speaker 1>since the two of them merged not too long ago.

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<v Speaker 1>Um So, of course, feel free to throw things at

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<v Speaker 1>me if I get too excited. I always do, all right. So,

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<v Speaker 1>satellite radio, you might say that's of an odd idea. Well, yeah,

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<v Speaker 1>you know, this is not Marconi's idea of radio, you know,

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<v Speaker 1>which was essentially that the frequencies are traveling through the

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<v Speaker 1>air and you pick them up once they've been broadcasting

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<v Speaker 1>those signals. AM you know carries aways and FM carries aways,

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<v Speaker 1>and they both have their advantages and disadvantages. But satellite

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<v Speaker 1>radio UM has bounced off of satellites that are in

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<v Speaker 1>orbit around the Earth, and UH, the UM enhancement here

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<v Speaker 1>is it's gotten more bandwidth than the average FM signal,

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<v Speaker 1>So you're getting more information in the signal, you're probably

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<v Speaker 1>getting better quality sound, and UH it also allows you

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<v Speaker 1>to listen to channels on the go. You can basically,

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<v Speaker 1>if you're in the United States or Canada, you're able

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<v Speaker 1>to subscribe to satellite radio and you could drive from

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<v Speaker 1>one end of the country to the other without losing

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<v Speaker 1>the signal that you're listening to. Right, You wouldn't have

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<v Speaker 1>to sit there and keep fiddling with your radio and

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<v Speaker 1>try and find that one station that's not playing country

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<v Speaker 1>exactly right. UM. So it's uh, it's pretty nifty for

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<v Speaker 1>for music aficionados, especially UH speaking again and you know

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<v Speaker 1>from my own personal experience, because both what have been

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<v Speaker 1>operating as individual companies, Serious Satellite Radio and XM Satellite

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<v Speaker 1>Radio UH in the United States and Canada. Both of

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<v Speaker 1>them offer dozens of music channels. Um. They also offer

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<v Speaker 1>a variety of other programming news, sports radio, talk radio,

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<v Speaker 1>public radio, UH, special interest radio, traffic and weather. You know,

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<v Speaker 1>so the people who subscribe to satellite radio are the

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<v Speaker 1>kind of people who want a university of programming and

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<v Speaker 1>they wanted on no matter where they go. It's primarily

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<v Speaker 1>used by people in cars and trucks, although you know,

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<v Speaker 1>some of us bring ours in and listen to it

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<v Speaker 1>at our desk while we're working. Um So, it's that's essentially,

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<v Speaker 1>in a nutshell, what satellite radio is, right and and

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<v Speaker 1>before the merger, when you could talk about XM and

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<v Speaker 1>Sirious as two separate companies, you could really talk about

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<v Speaker 1>the differences between them. Now those differences still exist even

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<v Speaker 1>though it's one company. You have two different systems that

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<v Speaker 1>you're working with. And we should give you a little

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<v Speaker 1>quick rundown on that. And now XM Radio has a

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<v Speaker 1>four satellites that travel in a geo stationary orbit. That

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<v Speaker 1>means they stay in a fixed position above the Earth.

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<v Speaker 1>Um So, as the Earth turns, these stay exactly where

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<v Speaker 1>they are. And it's supposed to give you that coverage

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<v Speaker 1>that Chris was talking about nationwide thank you, Arthur C. Clark, Yes,

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<v Speaker 1>thank you very much. So those are Those are named

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<v Speaker 1>rock Roll, Rhythm and Blues, which is much cooler sounding

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<v Speaker 1>than x M one, x M two, x M three.

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<v Speaker 1>They're also named that. But anyway, moving on now serious.

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<v Speaker 1>They also have four satellites. One of them is GEO stationary,

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<v Speaker 1>the other three are not, which means they actually kind

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<v Speaker 1>of drift over the United States in a certain pattern,

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<v Speaker 1>and now the coverage is still there. It's just that

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<v Speaker 1>it's uh as as one satellite is moving away from

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<v Speaker 1>covering North America, another satellite is coming directly over North America,

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<v Speaker 1>so you're there. Theoretically you don't lose any coverage that way. UM.

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<v Speaker 1>So those are the Those are the differences just from

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<v Speaker 1>satellite point of view. But they also use different proprietary coding,

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<v Speaker 1>so if you have a serious radio, you can't pick

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<v Speaker 1>up and decode x M signals and vice versa. Not yet,

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<v Speaker 1>not yet. Um, you were theoretically supposed to at some point,

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<v Speaker 1>but that never happened, although it's supposed to happen now

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<v Speaker 1>that they are one company. Yeah, the merger was a

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<v Speaker 1>very very long process in coming. It had to overcome

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<v Speaker 1>a number of objections. Uh. You know, there are major

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<v Speaker 1>lobbying groups like the National S Station of Broadcasters who

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<v Speaker 1>were against it. Uh. They argued and and you might,

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<v Speaker 1>as the listener, argue that hey, you know, there were

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<v Speaker 1>two companies now there are only one. Yeah. In fact,

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<v Speaker 1>the FEC, as part of the condition of giving them

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<v Speaker 1>licenses to operate these services, uh, expressly said, you know,

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<v Speaker 1>you may not merge, but you know, market conditions, it's

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<v Speaker 1>not cheap to launch a satellite um and maintain it

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<v Speaker 1>and maintain the you know, the number of people it

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<v Speaker 1>takes and do all the advertising to get people to

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<v Speaker 1>sign up. So both of these companies have been operating

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<v Speaker 1>in a loss for for quite some time. I mean,

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<v Speaker 1>they're making some money, but it takes a lot of

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<v Speaker 1>money to to get more subscribers. So you know, that

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<v Speaker 1>was a lot of the reason behind why they were

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<v Speaker 1>trying to merge. And eventually they overcame the objections of

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<v Speaker 1>of the lobbyists and the well they didn't overcome those,

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<v Speaker 1>but the government agency agencies like the Department of Justice,

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<v Speaker 1>the SEC, the FCC finally came together and decided, well

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<v Speaker 1>it's it's okay. It was sort of grudging. They had

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<v Speaker 1>to give up a lot, uh, twenty million dollars v

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<v Speaker 1>they had to freeze rates for three years. You know,

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<v Speaker 1>a lot of things that they had to do. Was

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<v Speaker 1>very difficult for them to do it. But they finally

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<v Speaker 1>merge and it wasn't it wasn't a blowout by any means. Uh.

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<v Speaker 1>The FCC came to a decision. It was a three

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<v Speaker 1>two decision, so three four two against and um and

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<v Speaker 1>I mean you might be shocked to hear this, but

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<v Speaker 1>it went straight down party lines, three Republicans voting for

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<v Speaker 1>the merge and two Democrats saying please know so um yeah,

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<v Speaker 1>I mean it's it's one of those things that people

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<v Speaker 1>still feel a little unsure about. For one thing, there's

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<v Speaker 1>the concern that since there's only one satellite radio company

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<v Speaker 1>really in the United States at this point, it's a monopoly. Now.

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<v Speaker 1>The the counterpoint to that argument is to say that, no,

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<v Speaker 1>of course, not satellite radio is is competing with many

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<v Speaker 1>other industries now, they're they're not other satellite radio companies,

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<v Speaker 1>not in the United States and Canada, right right exactly,

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<v Speaker 1>I'm just on the US and North America here. So, um, so,

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<v Speaker 1>what you're talking about here is is competing with things

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<v Speaker 1>like just traditional radio, so traditional radio versus satellite radio,

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<v Speaker 1>or even things like personal music devices like iPods or

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<v Speaker 1>other m P three players um or even the iPhone.

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<v Speaker 1>One of the most popular new applications on the three

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<v Speaker 1>G I phone is Pandora, which is a streaming radio

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<v Speaker 1>h web application, and you can get music on that

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<v Speaker 1>and it it'll just start pulling music and playing it

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<v Speaker 1>through your your iPhone. So so the FCC said, all right,

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<v Speaker 1>you know, that does sound like that's enough basis for competition.

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<v Speaker 1>So this really isn't a monopoly. That's how they kind

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<v Speaker 1>of got through that. It's funny that that you would

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<v Speaker 1>talk about those objections because also in the interest of disclosure,

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<v Speaker 1>when I signed up for satellite radio, I was working

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<v Speaker 1>for one of the major UH, the two satellite television

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<v Speaker 1>providers in the United States, and at that time, in

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<v Speaker 1>two thousand and one, two thousand two, they were looking

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<v Speaker 1>at the possibility of merging Direct TV and Dish Network,

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<v Speaker 1>And an article in the Wall Street Journal just the

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<v Speaker 1>other day, since Serious and XM were allowed to merge,

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<v Speaker 1>UH said that they that Dish Network is actually considering

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<v Speaker 1>the possibility of another merger attempt. Now they were denied

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<v Speaker 1>the opportunity to do that because the people who are

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<v Speaker 1>against it, I believe, if I'm not mistaken, this is

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<v Speaker 1>off the top of my head, the NAB opposed that too. Um.

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<v Speaker 1>But but that's a little bit different situation. Unlike radio

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<v Speaker 1>and iPods and all the other things that you can

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<v Speaker 1>do with with audio signals. Um. People in rural areas,

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<v Speaker 1>say the mountains of West Virginia, you can't just lay

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<v Speaker 1>more television. Cable is very very difficult to that. So

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<v Speaker 1>the only competition satellite TV has in those areas is

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<v Speaker 1>regular broadcast TV, so you might be limited to a

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<v Speaker 1>very few stations versus you know, the depth and breadth

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<v Speaker 1>of satellite TV programming, which is why they were unable

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<v Speaker 1>to merge before. I was the big uh contingent you know,

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<v Speaker 1>who was against it, saying it was an monopoly there.

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<v Speaker 1>That's why they were successfully able to argue that. But

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<v Speaker 1>there's a lot more that satellite radio competes with than

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<v Speaker 1>than just those options. So that I think that's probably

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<v Speaker 1>what was maybe the deciding factor, at least it would

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<v Speaker 1>have been for me, right, But it might set a precedent.

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<v Speaker 1>We'll have to just wait and see and see if

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<v Speaker 1>if that lays the groundwork for satellite television mergers down

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<v Speaker 1>the line. UM. Just to get back to the the

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<v Speaker 1>discussion about the cars, something interesting I read was that

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<v Speaker 1>some car manufacturers might not be so thrilled about the

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<v Speaker 1>the merger of x M and Serious because a lot

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<v Speaker 1>of cars are now including satellite radio UM as one

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<v Speaker 1>of the options you can have and UH and different

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<v Speaker 1>car dealers our car models. Car manufacturers have made deals

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<v Speaker 1>with either XM or Serious, so it was one way

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<v Speaker 1>to differentiate the model from other cars. And now that

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<v Speaker 1>method of differentiation is gone because they're the same company.

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<v Speaker 1>That's interesting. I never really thought that that that that

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<v Speaker 1>would be a bad thing. I thought it would be

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<v Speaker 1>a good thing because it makes it much easier you

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<v Speaker 1>have a you know, you've consolidated your choices. You don't

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<v Speaker 1>have to make that choice, right. But it turns out

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<v Speaker 1>that that's not as simple as I thought. Yeah, it's Uh.

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<v Speaker 1>It's funny because it's also both services are offered with

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<v Speaker 1>satellite TV now they eat. If you're a Direct TV subscriber,

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<v Speaker 1>you get XM channels as your music. If you're a

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<v Speaker 1>Dish network subscriber, you get Serious music channels included with

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<v Speaker 1>your TV, So I wonder, you know, I haven't seen

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<v Speaker 1>anything about that, but I wonder if that's going to

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<v Speaker 1>be an issue for them there. They have lot of

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<v Speaker 1>agreements that they have in place that they're going to

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<v Speaker 1>have to to work out. And that's why, Uh, you're

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<v Speaker 1>not going to see a dramatic shifts suddenly in the

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<v Speaker 1>number of channels if you are a subscriber or the

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<v Speaker 1>kind of channels, because they're they're they've got a lot

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<v Speaker 1>of issues yet to work out having a chip set

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<v Speaker 1>that picks up signals from both kinds of of those satellites,

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<v Speaker 1>so you know, it's it's gonna be a while before

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<v Speaker 1>they really get the kinks worked out. Actually that that

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<v Speaker 1>leads me. I don't mean to put you on the

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<v Speaker 1>spot here, but I'm just curious what you think the

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<v Speaker 1>the viability of satellite radio is. I mean, seriously, they're

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<v Speaker 1>talking about a subscription based service, so people are paying

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<v Speaker 1>for this, um when they can get things like Pandora

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<v Speaker 1>Internet radio, Uh, when they can get things like a

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<v Speaker 1>traditional radio. UM. Do you think that satellite radio really

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<v Speaker 1>is does have a future after this merger? Yes and no,

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<v Speaker 1>I think the idea is viable. I think it's it's

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<v Speaker 1>sort of like DVR technology, where it's got a mass,

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<v Speaker 1>but it doesn't seem to have reached critical mass. UM.

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<v Speaker 1>I think that they have both well serious XM radio.

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<v Speaker 1>The new company has an awful lot of debt to

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<v Speaker 1>work off, UM, and I honestly think that if the

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<v Speaker 1>merger had not gone through that they would have had

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<v Speaker 1>a very difficult time surviving. I don't think both of them,

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<v Speaker 1>maybe not either of them would have survived that now, UM,

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<v Speaker 1>you know, with the semi monopoly conditions that also opens

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<v Speaker 1>the field. I think it would be very easy, if

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<v Speaker 1>you had the wherewithal to do it, uh, to launch

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<v Speaker 1>another satellite radio service to compete with Sirius xm UM.

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<v Speaker 1>You know, because then you could say, well, hey, you

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<v Speaker 1>know there's a monopoly out here. I want to compete

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<v Speaker 1>with them. You know. I think it would be much

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<v Speaker 1>easier for a new player to get in the market

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<v Speaker 1>and compete with it. And I think, you know, there's

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<v Speaker 1>only so much iPod that you can take before I go,

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<v Speaker 1>you know what, I just want somebody else to spend

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<v Speaker 1>something new that I haven't heard before, right, And I

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<v Speaker 1>do remember were reading something about them being locked into

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<v Speaker 1>UH they couldn't go over a certain subscription sheet for

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<v Speaker 1>a couple of years after the merger, which, as you

0:13:08.400 --> 0:13:10.520
<v Speaker 1>point out, that means that if someone else were to

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<v Speaker 1>come in they could they could take advantage of that.

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<v Speaker 1>I mean, if if that amount of money isn't enough

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<v Speaker 1>to keep the company afloat, then then they may it

0:13:19.080 --> 0:13:22.959
<v Speaker 1>may have just prolonged the inevitable. Well, I guess that

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<v Speaker 1>about wraps up this podcast. Do you would like to

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