The U.S. Federal Communications Commission may reach a decision on Sirius Satellite Radio Inc.’s proposed takeover of XM Satellite Radio Holdings Inc. by the end of June, Chairman Kevin Martin said.

“I still think the commission could act by the end of the
second quarter,” Martin told reporters at a press conference in
Washington today. The combination of the two U.S. pay-radio
companies wasn’t placed on the agenda for the commission’s
regular monthly meeting on June 12.

Commissioners are privately debating what conditions to
demand in exchange for approving the transaction. Some U.S.
lawmakers and interest groups are asking that the combined
entity allocate part of its spectrum to competitors including
minority-owned broadcasters, and that it be required to let any
manufacturer make receivers to boost consumer choice.

Martin declined to discuss details of the commission’s
deliberations.

The FCC isn’t required to vote by a specific date, and may
delay the matter beyond June if commissioners can’t reach a
decision. The U.S. Justice Department approved the combination
on March 24, saying competition from broadcast radio and
digital-music players would prevent price increases.

Via:Bloomberg

Could this really be happening? I’m not holding my breath but at least this is the most solid news I have heard from anyone, including the FCC yet.

I will be keeping my fingers crossed and my eyes open for any more news on this.

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