FCC chief to back satellite radio merger: report
Sun Jun 15, 2008 11:40pm EDT
WASHINGTON (Reuters) - The head of the U.S. Federal Communications Commission will support Sirius Satellite Radio's proposed purchase of rival XM Satellite Radio, The Washington Post reported in Monday editions.
FCC Chairman Kevin Martin's decision could remove the last regulatory hurdle in a lengthy and heavily criticized move to combine the companies, the Post said.
Aides to Martin said the FCC chief decided to give his support after the companies agreed last week to concessions intended to prevent the new company from raising prices or stifling competition among radio makers, the paper reported.
Martin is expected, as early this week, to issue an order that the FCC vote to approve the union of Washington-based XM and New York-based Sirius, his aides were cited as saying.
A spokesman for the FCC was not immediately available for comment.
It will likely be approved 3-2, with the two democrats opposing.
Whichever way it went, I'm just glad it's finally all but over with...
It's not said what the details of the concessions are.