Commissioners at the Federal Communications Commission have reached an agreement to approve Sirius Satellite Radio's  purchase of XM Satellite Radio , the Wall Street Journal reported.

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The merger of the two U.S. satellite radio companies was poised for approval as a pivotal member of the Federal Communications Commission neared agreement to cast a tie-breaking vote in favor of the deal, a source familiar with the merger review said on Wednesday.

The Federal Communications Commission is close to giving a green light to Sirius Satellite Radio's proposed takeover of acquisition of XM Satellite Radio, the Wall Street Journal reported Wednesday.

A Federal Communications Commission member who sought further concessions in a pending satellite radio buyout withdrew his offer Wednesday after it failed to draw support.

XM Satellite Radio Holdings Inc., which is seeking regulatory approval for an acquisition by rival Sirius Satellite Radio Inc., on Tuesday reported a smaller second-quarter loss as it increased its subscriber base by 17 percent.

Among the earnings stories for Tuesday, July 22, from AP Financial News:

XM Satellite Radio Holdings Inc <XMSR.O> on Monday posted better-than-expected net new subscriptions for the second quarter, lifting its total to about 9.7 million, and sending shares up more than 6 percent.

XM Satellite Radio Holdings Inc. said Monday that it added 322,000 new net subscribers in the second quarter of 2008 for a total of almost 9.7 million subscribers, about 17 percent more than at the end of the second quarter of 2007, according to preliminary results.

XM Satellite Radio Holdings Inc. said Monday that it is offering $400 million of new senior notes to help refinance debt related to its pending merger with Sirius Satellite Radio Inc.

XM Satellite Radio Holdings Inc. on Friday said it has reached an agreement to restructure about $600 million of debt, putting itself a step closer to completing its purchase by rival Sirius Satellite Radio Inc.

XM Satellite Radio Holdings Inc. on Friday said it has reached an agreement to restructure about $600 million of debt, putting itself a step closer to completing its purchase by rival Sirius Satellite Radio Inc.

The potential deciding vote in the government's review of the merger between satellite radio companies said he will vote in favor of the deal if the companies agree to tougher conditions.

The potential deciding vote in the U.S. government's review of the $3.1 billion merger between satellite radio companies told The Associated Press he will vote in favor of the deal if the companies agree to tougher conditions.