Sirius would ‘love’ to go to court if the Justice Department want...

beats inaction, Karmazin said. “At least [we would] have our day in court.” Sirius has given “well over 6 million pieces of paper” to regulators, everything they could need to decide on the merger, he said. The companies plan to close the deal the evening it gets DoJ and FCC approvals, he said. When that will happen is unclear. “I have no idea,” Karmazin said. Combining with XM would bring “hundreds of millions of dollars” in annual efficiencies, according to a study that Sirius paid for. The amount surprised Karmazin when he heard it, he said, but he has “no reason to doubt it.” If approval doesn’t come, it will be “business as usual,” since in the wake of the February merger announcement Karmazin has been running Sirius as if nothing was going to happen, he said. Raising prices is “the last thing we would want to do,” he said. Terrestrial radio is satellite radio’s main rival and competing with it requires low prices, he said. A merger would make reducing prices easier, he added.