Washington
- One year after announcing plans to merge with rival Sirius (NASD: SIRI), XM Satellite
Radio (NASD: XMSR) continues to spend large amounts of money in an effort to land regulatory
approval to complete the proposed $5 billion deal, the Associated Press reported.
XM reportedly spent $1.2 million to lobby Congress and federal regulators last
year, according to records released by the Senate's public records office.
The
companies had hoped to have the deal finalized by the end of 2007, but are
still awaiting decisions from the Department Justice and Federal Communications
Commission (FCC).
Related Links:
http://biz.yahoo.com/ap/080215/xm_satellite_radio_lobbying.html
(AP)
http://www.xmradio.com
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