June 16, 2008 by Rachel Cericola
It looks like the FCC has had a change of heart regarding the merger of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc.
The AP says that some of the staff, including FCC chairman Kevin Martin, has given the thumbs-up to the merger. That means the deal could be done in as little as three weeks. Of course, there are stipulations.
For starters, the combined company would need to cap its prices on both services and satellite receivers. They would also like the mega-service to offer “a la carte” channel options versus package deals. The FCC also wants eight percent of satellite channels put aside for public and minority-owned stations. Finally, the joint company will need to license its technology to more companies, making more satellite radios readily available.
One last part of the deal would see universally compatible Sirius/XM radios within one year. Does that mean I will need another upgrade? I just finally mounted the thing!
As the deal creeps closer to an end, stock shares are doing a bit of creeping as well. The Washington Post says that Sirius stood at $2.90 in pre-open trade on Monday, with XM clocking in at $11.49.
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Over the past 15 years, Rachel Cericola has covered entertainment, web and technology trends. Check her out at www.rachelcericola.com.
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