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FCC Chairman Affirms Target Q4 Decision On Sirius-XM Merger

9/12/2007 03:03:00 PM Eastern

Washington — Kevin Martin, Federal Communications Commission (FCC) chairman, reaffirmed his desire that the agency will vote on the proposed Sirius-XM merger by the fourth quarter.

During a monthly press conference, Martin said the FCC’s target goal is to adhere to the agency’s 180-day time clock for deciding on pending mergers. The FCC began its review of the Sirius-XM merger on June 8, which would place it on track for a decision by early December.

Martin noted, however, that he had not spoken to other FCC commissioners about a Sirius-XM time frame.

Last week, marked the midpoint for the FCC’s decision-making time clock.

Recent analyst reports on the merger include a positive outlook issued today by Tom Watts of Cowan and Company. He expects FCC approval before Dec. 4, although it could come as early as October, he said. Watts based his conclusion in part on “positive momentum from supporters and a strong precedent from the Whole Foods merger.”

Approval of the merger must also come from the Justice Department which has not yet set a timetable for a final review, according to reports.

Today XM also announced a campaign to help provide books for preschoolers in Washington’s low-income communities.

XM is partnering with non-profit early learning organization Jumpstart in seeking donations to purchase copies of the children’s book “The Story of Ferdinand” to distribute to Washington pre-schools. XM has donated 2,000 books as part of the local campaign and is also working with Jumpstart in a national effort to improve preschool reading skills, it said.

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