Federal Communications Commission Chairman Kevin Martin asked his staff to start drafting documents on the proposed combination of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. and said a decision may not come this quarter.

Martin said he expected the FCC to rule after the U.S.
Justice Department makes its decision. He commented on XM and
Sirius, the only two pay-radio broadcasters in the U.S., at a
press conference today in Washington.

“I’m not sure we’ll make it by the end of the first
quarter any longer,” Martin said. “I’ve got the staff drafting
various options. I haven’t figured out what I think we should do
on it yet.”

The FCC in most cases rules after the Justice Department
decides whether a proposed merger is anti-competitive.

“I still think the commission will act on it after the
Department of Justice acts,” Martin said. “If there’s a need
for us to go forward, then we’ll go forward quickly after
that.”

[Via: Bloomberg.com]

Hopefully we will see a decision by the end of 2008…….

Technorati Tags: fcc, kevin martin, sirius xm news, sirius xm merger news

Rate this topic:

(No Ratings Yet)

 Loading ...