Sirius-XM merger may get OK from FCC
Written on July 22, 2008
The potential deciding vote in the U.S. government’s review of the $3.1 billion merger between satellite-radio companies tells The Associated Press he will vote in favor of the deal if the companies agree to tougher conditions.
So far, two of the five members of the Federal Communications Commission have voted to approve Sirius Satellite Radio Inc.’s (SIRI) buyout of rival XM Satellite Radio Holdings Inc. (XMSR); that is one vote shy of a majority payday loans.
FCC Commissioner Jonathan Adelstein, a Democrat, wants the companies to cap prices for six years and make one-quarter of their satellite capacity available for public-interest and minority programming, among other conditions.
If the executives agree, Adelstein told the AP that he will approve the deal.
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