All Posts Tagged With: "satellite merger"

FCC Chairman Backs Sirius-XM Merger; Awaits Commissioner Approval

The dormant, yet important, proposed $5 billion merger of Sirius Satellite Radio Inc. (SIRI) and XM Satellite Radio Holdings Inc. (XMSR) cleared a major hurdle, as Federal Communication Commission Chairman Kevin Martin backed the merger – with stipulations.

Concessions Martin recommended include: the stations turn over 24 channels to noncommercial and minority programming as well as a three-year freeze on prices and packages. Both satellite stations have already accepted Martin’s conditions.

“As I’ve indicated before, this is an unusual situation,” Martin said in a statement. “I am recommending that with the voluntary commitments they (the companies) have offered, on balance,…

16Jun2008 | Money Morning | Comments Off | Continued

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