XM/Sirius Approval One Vote Away
After nearly 17 months in limbo, the merger between XM and Sirius Satellite Radio is only vote away from consummation.
According to Dow Jones Newswires, two members of the five-member Federal Communications Commission, including Chairman Kevin Martin, have already pledged to vote for the merger, and Martin only needs to convince one more of the three remaining commissioners in order for the merger to pass.
Martin and Commissioner Robert McDowell, both Republicans, have agreed to vote yes; Democrat Michael Copps is considered a shoo-in to vote no. Republican Deborah Taylor Tate and Democrat Jonathan Adelstein remain uncommitted, at least publicly. The version of the merger now under consideration includes conditions, agreed to by the companies as well as key members of Congress, that include a three-year price freeze, and channels devoted to nonprofit and minority programming.