Saturday, July 26, 2008

FCC approves XM-Sirius satellite radio merger / Final approval given to merger of US satellite radio firms

This handout image received in 2007 shows the XM logo. US regulators formally approved the long-delayed billion-dollar merger of the nation's only two satellite radio companies, combining Sirius and XM into a single network with 18 million subscribers, the FCC said Saturday.(AFP/XM SATELLITE RADIO/File)
Final approval given to merger of US satellite radio firms AFP - Sat Jul 26, 2:51 PM ET

WASHINGTON (AFP) - US regulators formally approved the long-delayed billion-dollar merger of the nation's only two satellite radio companies, combining Sirius and XM into a single network with 18 million subscribers, the FCC said Saturday.

  • In this March 20, 2008 file photo, a sign for XM Satellite Radio hangs over its exhibit space at the New York International Auto Show in New York. Federal regulators formally approved the merger of the nation's only two satellite radio operators Friday, ending a 16-month-long drama closely watched by Washington and Wall Street. Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc. will mean 18 million-plus subscribers will be able to receive programming from both services. (AP Photo/Mark Lennihan, File)
    FCC approves XM-Sirius satellite radio merger AP - Sat Jul 26, 6:38 AM ET

    WASHINGTON - Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc. will mean millions of subscribers will be able to receive programming from both services, while executives say it will create huge cost savings for the industry.

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