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Report: FCC ready to approve XM-Sirius merger
Posted: Thu, Jul 24, 2008, 8:43 AM ET (1243 GMT)
The US Federal Communications Commission (FCC) is expected to approve the long-delayed merger of satellite radio companies XM and Sirius as soon as this week, according to media reports. Four of the five FCC commissioners have voted on the proposed merger and are deadlocked at 2-2, but the fifth, Deborah Taylor Tate, is expected to vote in favor of the merger. Her vote is expected to come with minor conditions, including a $20-million fine on the companies for failing to make their radios interoperable, that are not expected to disrupt the merger. XM and Sirius announced their merger plans in February 2007 but have been stuck in limbo for months waiting for regulatory approval. The proposed merger passed an antitrust review by the Justice Department earlier this year.
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