FCC chief recommends OK of satellite radio merger
AP , Washington: Jun 16 2008
Made Popular Jun 16 2008
United States :

The chairman of the FCC is recommending approval of the $5 billion merger between the nation’s only two satellite radio broadcasters.

The recommendation comes in exchange for concessions offered by the companies that include turning over 24 channels to noncommercial and minority programming, The Associated Press has learned.

Federal Communications Commission Chairman Kevin Martin’s recommendation sets the stage for a final vote on the closely watched buyout of XM Satellite Radio Holdings Inc. by rival Sirius Satellite Radio Inc.

Other conditions on the deal include a three-year price freeze.

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