Sirius (SIRI) remains optimistic it will hear favorable information in the near future regarding long-awaited merger with XM (XMSR), SIRI CEO Mel Karmazin says on conference call. He won't provide 2008 guidance until there's regulatory clarity, which "hopefully will be very shortly." CEO says he hasn't had additional contact with Justice Dept. "We wait by our telephone, but we really have not heard anything from them. It has been more radio silence than anything else," Karmazin says. Reiterates SIRI's costs would increase if merger isn't approved.
Both stocks have been going nowhere since the merger possibility was announced: Siri is at $3.01 and XMSR is at $12.90
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