Washington - Still awaiting approval from the Federal
Communications Commission (FCC), XM Satellite Radio (NASD: XMSR) and Sirius Satellite Radio (NASD: SIRI)
have agreed to extend their merger deadline, which otherwise would have expired
on May 15.
The companies said that the agreement will be extended in rolling
two-week periods, unless either side decides to pull out.
The Department of
Justice granted its approval in March.
Both companies announced on Tuesday that
they would postpone their upcoming annual meetings, pending a decision by the
FCC.
Related Links:
http://biz.yahoo.com/prnews/080430/nyw140.html?.v=101
http://www.xmmerger.com
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