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.
(Source: Reuters)
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on Jul 26th, 2008 at 16:09
This is by no means a done deal. The NAB is still complaining, and when XM has to cut bodies they will be in violation of the sweetheart deal on taxes they got from the local DC Government..
on Jul 27th, 2008 at 10:18
Our world does not need any more bad news.
on Jul 29th, 2008 at 07:12
Looks to be a part of a trend. Same case as the merger of Intelsat and Panamsat, which had earlier merged with Comsat to create, in the words of its CEO, the World’s largest fleet of satellites ever known to mankind. Also the highest prices ( $12,000 per MHz) as compared to $1800 per MHz prevailing earlier.
The job of any regulator, one would think,, would be the prevention of creation of such monopolies. Evidently this is not the case.Good so long as no one complains of parting with his money for nothing. Most of installations of radios come as Original equipment in cars, so you have no way to opt out if you need one, regardless of the price.