FCC Agrees to Approve Sirius Pruchase of XM: Report
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.
Republican commissioner Deborah Taylor Tate agreed to cast a tie-breaking vote in favor of the deal after winning several concessions from the companies involving enforcement issues.
"I think it's fair to say an agreement in principle has been reached," FCC Chairman Kevin Martin was quoted by the Journal as saying.
The two companies will pay about $20 million in fines in order to get the approval, the Journal said.