Sirius-XM merger approval by FCC hangs on one vote
The record-breakingly long merger of XM and Sirius satellite radio now hangs upon the vote of one final FCC Commissioner.
After approval by shareholders in both companies, then a green light by the Department of Justice, the approval of five Federal Communications Commission commissioners is one of the major remaining hurdles the companies must endure before they can join.
The current vote tally is 2 to 2. Two Democrats voted against the merger, while two Republicans voted for it. The FCC has been reviewing the deal for 13 months.
The last vote will come from Republican commissioner Deborah Taylor Tate. An FCC source has informed the Wall Street Journal that Tate is likely to sign off on the deal in exchange for certain concessions.
The same, however, was expected of democratic commissioner Jonathan Adelstein, who yesterday voted against the deal.