On September 3rd, Bank of America analyst Jonathan Jacoby told clients that prospects for the approval of the proposed XM-Sirius satellite radio merger had “lost momentum.” His comments were based in part on an “FCC filing by a group of broadcasters,” which he praised for its argument that adoption of the satellite radio companies’ "audio entertainment" market definition could undermine any justification for FCC regulation of AM and FM radio ownership. Jacoby noted, "Our contacts believe that this argument could give the FCC the most trouble.” Separately, former FCC Chief of Staff Blair Levin, now an analyst with Stifel Nicolaus, noted that this was a "smart issue" for broadcasters to raise. LS&L lawyers prepared and filed the Reply Comments Jacoby and Levin cited on behalf of a group that includes the firm’s clients, Beasley Broadcast Group, Inc, Citadel Broadcasting Corporation, Entercom Communications Corp., and Greater Media, Inc.
