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FCC Approves Sirius-XM Satellite Radio Merger Late Friday
The Federal Communications Commission late Friday granted Sirius Satellite Radio Inc. (SIRI) approval to complete its $3.3 billion purchase of XM Satellite Radio Holdings Inc. (XMSR), ending a 16-month-long political drama and making it possible for the nascent business to start operating at a profit.
According to Reuters, and other news services, this merger saga has been closely watched both on Wall Street and inside the Beltway. Ostensibly, the deal means that the aggregate subscriber base of more than 18 million will be able to receive programming from either service.
“I think this merger is in the public interest and will…
28Jul2008 | Money Morning | Comments Off | Continued
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