About UPI  |  UPI en Español   |   My Account
Free News Update:
United Press International - News. Analysis. Insight.™ - 100 Years of Journalistic Excellence
  • Home
  • Top News
  • Entertainment
  • Odd News
  • Sports
    • Baseball
    • Football
    • Golf
    • Olympics 2008
  • Business
  • Science
  • Health
  • Analysis
    • Energy Resources
    • Security Industry
    • Emerging Threats
  • Video
  • News Photos
Search:
Go
Advertise on UPI
You are here:  Home / Business News / Satellite radio merger may include fines

Business News

View archive | RSS Feed

Satellite radio merger may include fines

Published: July 24, 2008 at 5:39 PM
Order reprints  |  Print Story  |  Email to a Friend  |  Post a Comment
Satellite radio merger may include fines An XM Radio logo is seen on a billboard near their headquarters in Washington, DC on February 20, 2007. XM Holdings Inc. and Sirius Satellite Radio Inc. may get a green light on their merger if they pay about $20 million in fines, sources said. (UPI Photo/Kevin Dietsch/File)
Related Stories
  • Regulator to support XM and Sirius merger
  • FCC near decision on radio merger
WASHINGTON, July 24 (UPI) -- Sirius Satellite Radio Inc. (NASDAQ:SIRI) and XM Satellite Radio Holdings Inc. (NASDAQ:XMSR) may get a green light on their merger if they pay about $20 million in fines, sources said.

Federal Communications Commissioner Deborah Tate would cast the deciding vote in favor of the merger if the companies pay the fines for various violations on tower locations and power limits, sources told The Wall Street Journal.

The combined companies, once rivals, are worth $7.5 billion, the Journal reported.

The merger includes an agreement to freeze prices for existing customers for three years. XM would also pay about $17.5 million and Sirius about $2 million to settle complaints their transmissions were sometimes too strong and bleed into local radio stations.

If resolved soon, the deal would allow the companies to push ahead with holiday marketing, a critical selling period for the industry, the Journal reported.



© 2008 United Press International, Inc. All Rights Reserved.
News Photos Slideshows
Photos of the Day
Week in Photos
News
Entertainment
Sports
Features
Olympics 2008
Most Popular
Stories
Photos
Videos
1.
Airline passenger bumping could increase
2.
U.S. stocks plunge on worrisome day
3.
Oil slips, natural gas big loser
4.
Oil prices pressured by storm fears
5.
Oil prices climbing amid hurricane watch
Path to the Presidency - DNC Convention News


Videos
Enlarge Video
Native American delegates on the rise at DNC
Native American delegates on the rise at DNC
Friday, August 29
Obama's speech: Reaction from Invesco Field
Obama's speech: Reaction from Invesco Field
Friday, August 29
Obama set to wrap DNC
Obama set to wrap DNC
Thursday, August 28
Household vampires
Household vampires
Wednesday, August 6
© 2008 United Press International, Inc. All Rights Reserved. Official Government Wires  |   About UPI  |   Site Map  |   Terms of Use  |   Privacy Policy  |   Advertise Online  |   Contact Us

Sponsored Links: College Football Tickets - Fundraisers - Press Release Services - prom dresses - Prom dresses and gowns - Wedding and Honeymoon Experts - Auto Dealers - Motivational Sports Speakers Bureau - Real Estate Properties in the world