Sirius Satellite Radio Inc’s purchase of XM Satellite Radio Holdings Inc was finally approved yesterday, but with conditions, by US communications regulators, clearing the way for a deal that will leave just one US satellite radio service. The Federal Communications Commission (FCC) voted 3-2 in favour of a proposal that would allow the deal to proceed as long as the companies meet a series of consumer protection conditions, including a three-year cap on prices, set-aside of channels for minority and non-commercial programming, and payment of a $19.7 million penalty for past FCC rule violations.
- Two US lawmakers urge conditions on XM-Sirius deal
- Senator urges FCC to block XM-Sirius deal
- XM, Sirius not talking of merger in Canada
- Sirius plan to buy XM gets antitrust approval
- Sirius, XM shareholders back satellite radio merger