Sirius/XM Extend Merger Agreement
April 30, 2008
The waiting game continues. Sirius Satellite Radio and rival XM said Wednesday that they have agreed not to exercise their rights to terminate their merger agreement prior to May 15 and will extend the deal, as necessary, for rolling two-week periods as they await a decision on the pairing from the FCC.
The Justice Department ended its investigation of the deal in March and concluded that the combination of the two music companies would not be anticompetitive. FCC Chairman Kevin Martin said his agency would act after Justice released its findings but there's been no news thus far. Sirius and XM stakeholders blessed the deal last November.
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Antitrust
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