Washington — Sirius and XM received final approval from the Federal Communications Commission (FCC) to merge the companies in a 3-2 vote Friday evening, according to several news agencies.
The decision caps a 17-month uphill battle to merge the two companies that resulted in a steep decline in retail sales of satellite radio products.
Upon learning of the FCC ruling, the National Association. of Broadcasters (NAB) issued a statement from executive VP Dennis Wharton, noting, “Today’s vote certainly comes as a disappointment to NAB. We continue to believe that consumers are best served by competition rather than monopolies.”
Retailers contacted earlier on Friday, anticipating the FCC ruling, said they hope the merged company will boost retail advertising presently.
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