The Deal
reported on Tuesday that such a deal was imminent after Democrat Commissioner Michael Copps voted to oppose the transaction. Republican Commissioner Robert McDowell has joined FCC Chairman Kevin Martin in voting to approve the transaction with some conditions. Democratic Commissioner Jonathan Adelstein had initially offered to support the transaction with new conditions, but on Wednesday he formally voted against the merger after his proposal was rejected by Martin. Tate is expected to vote to support the deal if Martin agrees to fine XM-Sirius for a variety of violations. Tate wants fines related to wireless devices XM-Sirius used to transmit audio signals from satellite radio devices to in-dash car radios that are noncompliant with FCC limits. She also worries about hundreds of XM-Sirius antennas that either are not in approved locations or are emitting signals that are too strong.
- Ron Orol
Ron Orol is a Washington-based reporter for The Deal and author of Extreme Value Hedging: How Activist Hedge Fund Managers Are Taking on the World.
GOP Federal Communications Commissioner Deborah Tate has reached a "tentative deal" to cast the deciding vote in favor of the $13 billion hookup of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc., according to The Wall Street Journal.
