Sat Radio Merger a Step Closer to Decision?
Apparently, the Federal Communications Commission is a step closer to issuing a decision on the merger between XM and Sirius.
FCC Chairman Kevin Martin told reporters Thursday that he has instructed staff to draft documents on the deal, though he added, “I haven't figured out what I think we should do on it yet." Martin also said a decision on the transaction probably wouldn’t come before the end of the month, despite earlier pushes to finish any review of the deal before that time.
Nonetheless, given that the FCC is prepared to issue something on the deal, the agency could deliver a decision on the merger sooner rather than later. Also scrutinizing the deal is antitrust staff at the Justice Department, and it’s unclear how that entity is progressing on the deal.