Friday, December 8, 2006

Sirius and XM not likely to merge; FCC rule would prevent it - report

Sirius and XM, the two listed satellite companies, are not likely to merge despite speculation that the two could hook up, reported the Wall Street Journal. The unsourced report, part of a broad story looking at declining demand for satellite radios, said that a merger is not likely because of a Federal Communications Commission ruling that prevents a satellite company from buying a competitor. According to the report, the FCC is not likely to change that rule. A previous report in the New York Daily News had said New York based Sirius and Washington DC based XM could merge in the next year-and-a-half, creating a 7bn company.


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