Sirius/XM Merger Imminent with FCC Thumb's Up

By Automotive Staff | June 17, 2008
Have you ever wondered what happened with the merger between Sirius and XM Satellite Radios? The U.S. Justice Department okayed it not too long ago. But we’ve been waiting for the Federal Communications Commission (FCC) to weigh in. Well, in a recent interview, FCC chief Kevin Martin said that the agency will be acting “soon.” Apparently the deal raised some “difficult issues” but the companies involved had agreed to some sort of "regulatory concessions". Retail satellite radio sales fell to about 698,000 last year. The merger is expected to bring the two companies more than $4 billion in savings for the new company as well as breath life in retail sales that have wavered since the merger was announced. Our take? Not everyone is happy of the possible merger, of course. The National Association of Broadcasters has threatened to sue if the FCC approves it. [Editors Note: FCC Chairman has given the tentative thumbs up to the merger.]
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