John Ogg on
Wall St 24/7 writes that:
[Both stocks were] trading higher pre-market on reports
that the last FCC commissioner will back the merger if the companies
agree to additional conditions. FCC Chairman Kevin Martin has already
supported the merger despite all of the congressional special interests
and the RIAA objections to this competing against terrestrial radio.
The concession the FCC is looking for are a reported six-year pricing
cap and a quarter of its programming made available for minority or
public interests. After 18 months under the regulatory microscope,
Sirius and XM have started to see circumstances break in their favor.
Earlier this week, the
potential deciding vote,
Jonathan Adelstein, on the government's review of the $3.1 billion
merger told The Associated Press he'd be in favor of the deal should
the companies agree to tougher conditions. By midday Friday, XM Satellite's
stock was up 1.8%, at $8.60, while Sirius was up 6.6%, at $2.24. -- George
White
See Wall Street 24/7 post
See AP story on FCC
