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Martin Gives OK To XM/Sirius Merger

6/16/2008 07:58:00 AM Eastern

Washington — Kevin Martin, chairman of the Federal Communications Commission (FCC), is recommending approval of the $5 billion merger between XM and Sirius, the Associated Press is reporting.

This recommendation comes on the condition, however, that 24 channels be turned over to commercial and minority programming, according to the AP, and a  “three-year price freeze for consumers” is instated.  

A final vote on the merger is still required, but Martin’s recommendation is expected to lead the way.

"I am recommending that, with the voluntary commitments they've offered, on balance, this transaction would be in the public interest," Martin said in a statement, as reported by the Wall Street Journal.

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