FCC Cites Roadblock To XM Sirius Merger
By Amy Gilroy -- TWICE, 1/18/2007
Washington — XM and Sirius shares fell after Federal Communications Commission (FCC) chairman Kevin Martin said yesterday that there was precedent to block a merger between the two companies.
Martin told reporters that “There’s a prohibition on one entity owning both of those licenses,” following a monthly FCC meeting according to Reuters and the AP.
The news sent stocks of XM and Sirius falling 9 percent and 7 percent respectively.
Other analysts, however, said that XM and Sirius could ask the FCC to modify their licenses to permit a merger, said the reports.
XM said it had no comment on the FCC issue and Sirius has not yet responded to TWICE inquiries.
Talkback
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07/24/2008Sirius, XM Decision Drags On
05/04/2008FCC's Martin Comments On XM/Sirius Merger
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