FCC finally approves Sirius acquisition of XM Satellite Radio
July 26th, 2008

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)