After nearly a year and a half in the making, the XM/Sirius Satellite merger looks like it will finally become a reality. The merger was first announced back in February of 2007, but has faced a number business and regulatory hurdles.
The U.S. Department of Justice gave the merger the green light in March, leaving only a Federal Communications Commission approval in the way of the deal. FCC Chairman Kevin Martin publicly announced that he supports the merger, likely giving the deal the momentum it needs to finally come to fruition.
“I am recommending that with the voluntary commitments they’ve offered, on balance, this transaction would be in the public interest,” Martin said in a statement. The voluntary commitments include 24 channels reserved for noncommercial and minority programming, a plan to cap pricing and the availability of “a la carte” programming, according to Automotive News.
The auto industry has a vested interest in the merger as more and more buyers are opting for satellite radio in new cars.
