XM-Sirius merger heads to home stretch
FCC review process appears to be near a close, with a tentative deal reached between the parties, according to a <i>Wall Street Journal</i> report.
After more than a year of kicking the tires on a proposed merger between XM Satellite Radio Holdings and Sirius Satellite Radio, the Federal Communications Commission has reached a tentative deal with the companies, according to a report in The Wall Street Journal.
The report, however, notes that FCC commissioner Deborah Taylor Tate, seen as the swing vote, has yet to vote on the proposed merger, but is expected to take the plunge shortly.
According to the Journal, Tate is expected to vote to approve the deal, provided that a consent decree is drafted that would call for a fine of roughly $20 million and address several enforcement issues, such as complaints revolving around satellite radio receivers surpassing the FCC power limit.
If she signs off on the deal, Tate will join two other commissioners, also Republicans, who have already given their blessing to the deal. The two remaining commissioners, both Democrats, from the five-member board oppose the deal.