FCC Approves XM Satellite Radio Merger with Sirius

Ending a 16-month regulatory process, the Federal Communications Commission (FCC) late Friday approved Sirius Satellite Radio's (NASD: SIRI) $3.3 billion acquisition of XM Satellite Radio (NASD: XMSR), the Associated Press reported. The FCC broke its 2-2 stalemate Friday night when Republican commissioner Deborah Taylor Tate cast the deciding vote in favor of the deal. Tate had been holding out until the companies agreed to settle two-year-old compliance issues related to signal interference. XM will pay the government $17.5 million and Sirius $2.2 million, with both companies taking steps to address any potentially non-compliant radios and fix scores of signal repeaters. "I think [the merger is] going to be, in the end, a good thing for consumers and be in the public interest," FCC chairman Kevin Martin told the AP. "Consumers will enjoy a variety of programming at reduced prices and more diversified programming choices."
http://www.dmwmedia.com/news/2008/07/28/fcc-approves-xm-satellite-radio-merger-sirius