Can the standard merger analysis of the Department of Justice’s and Federal Trade Commission’s Horizontal Merger Guidelines accommodate mergers in high-technology industries? In its April 2007 report to Congress, the Antitrust Modernization Commission (AMC) answered that question in the affirmative. Still, some antitrust lawyers and economists advocate exceptions to the rules for particular transactions. In the proposed XM–Sirius merger, for example, proponents argue that the Merger Guidelines be relaxed to accommodate their transaction because satellite radio is a nascent, high-technology industry characterized by “dynamic demand.”
Journal of Competition Law & Economics, 4(3), 697–751(Sept. 2008). J. Greg Sidak, Chairman, Criterion Economics, Hal J. Singer, Criterion Economics (currently President, Empiris, LLC).