Satellite Radio Merger

16 06 2008

The chairman of the Federal Communications Commission now says he is satisfied the $3.8 billion merger of the nation’s only two satellite radio companies is in the public’s interest, but that’s no guarantee the deal will win final approval.

Two of the other four commissioners are ardent foes of allowing big media companies to get bigger and a third has been sympathetic to the broadcast industry, which opposes the satellite radio deal.

Some powerful members of Congress also have spoken out against the merger, making it anyone’s guess whether it will receive the three votes necessary for approval.

FCC chairman Kevin Martin said Sunday he will recommend that Sirius Satellite Radio Inc.’s buyout of rival XM Satellite Radio Holdings Inc. be approved by the five-member commission.

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