SubscribeAll Posts Tagged With: "sirius xm merger"
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…
28Jul2008 | Money Morning | Comments Off | ContinuedFCC 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,…
16Jun2008 | Money Morning | Comments Off | Continued
Loading ...
