WASHINGTON - Sirius Satellite Radio Inc's $3.3 billion purchase of XM Satellite Radio Holdings Inc was approved with conditions by U.S. communications regulators on Friday, clearing the way for a deal that will leave just one U.S. satellite radio service.
The FCC's commissioners voted by a 3-2 margin in favor of a proposal that would allow the deal to proceed as long as the companies met a series of consumer protection conditions, including a three-year cap on prices, setting aside 8 percent of their channel capacity for minority and non-commercial programming and payment of a $19.7 million penalty for past FCC rule violations.
Reuters