WSJ: Fate of XM-Sirius Merger Rests on Two More Votes by FCC

Authored by Mark Hefflinger on July 23, 2008 - 7:43am.

Washington - The fate of XM Satellite Radio's multi-billion merger with rival Sirius has come down to two votes at the Federal Communications Commission (FCC), the Wall Street Journal reported. So far, two Republican FCC commissioners -- chairman Kevin Martin and Robert McDowell -- have voted in favor of the deal, with Democratic commissioner Michael Copps voting against it Monday night.

Two other commissioners, Democrat Jonathan Adelstein and Republican Deborah Taylor Tate, have yet to cast their votes, the Journal reported.

Adelstein last week reportedly offered to vote in favor of the merger if the companies agreed to a compromise that included a six-year price cap, a stipulation that a quarter of the channels be devoted to noncommercial and minority-owned stations and the introduction of a new radio that also could receive HD signals from terrestrial radio stations.

Tate, however, hasn't spoken publicly about her feelings concerning the deal.

 

Related Links:
http://online.wsj.com/article/SB121674651820674047.html (subscription required)

http://www.xmradio.com

tags: Deals | Music | Sirius | Acquisitions | FCC | XM |


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