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There is something called wishful thinking and then something called talking sh!t. Sirius was trying to be a big bully by talking the latter to the press this past week.

At a Convergence 2.0 conference Sirius Satellite Radio CEO Mel Karmazin said that he would like to buy XM, but price and regulatory hurdles would be issues.

“Regarding XM - would we like to buy them? Sure. We’d love to buy them. Price would matter, so that would be an issue . . . [and] there would definitely be the regulatory issue,” he said. An XM spokesman said: “We do not comment on our competitors’ wishful thinking.”

He did calm investors immediately by stating that their business plan, “doesn’t really involve our doing a deal” and is not looking for Sirius to be bought either. So, essentially he was just talking trash, trying to flaunt Sirius’ $6.3 billion market cap and crush XM’s $3.7 cap.

Read [NY Daily News]