XM, Sirius Shareholders Approve Merger
In a less-than-surprising move, shareholders of both satellite-radio companies on Tuesday overwhelmingly approved the companies’ plan to merge with one another. XM Satellite Radio announced that 99.8 percent of its shareholders had voted to uphold the merger, while Sirius shareholders voted 96 percent in favor.
With one hurdle cleared other, higher ones remain, specifically the scrutiny of the Federal Communications Commission and Department of Justice. Analysts quoted by several media outlets have indicated in recent weeks that chances are increasing for final approval.