Satellite Merger Not Yet Being Reviewed; FCC Still “Skeptical”
The proposed merger between XM and Sirius Satellite Radio hit yet another roadblock late last week, when the chairman of the Federal Communications Commission told the Financial Times newspaper that he is still skeptical about the XM/Sirius merger’s eventual fruition, and that it “faces a high hurdle.”
Kevin Martin, who as chairman of the FCC will have a large say in whether or not the merger takes place, was reiterating a view he first expressed when the merger was first announced earlier this year.
Meanwhile, according to Bloomberg News, the FCC’s review process for the deal has yet to even begin. Martin told reporters after last week’s FCC meeting that it is still going over the substance of rules with the two companies. A request from the Justice Department for more information on the merger has also delayed matters.