XM Satellite: FTC Closes Inquiry Without Action

XM Satellite Radio Holdings said the U.S. Federal Trade Commission closed its inquiry into XM's marketing and customer service practices without any action.

The FTC launched this inquiry in April 2006, the satellite radio service company said in a statement.

Shares of XM jumped more than 4 percent Friday.

Competitor Sirius Satellite Radio is planning to buy XM in a $4 billion stock deal.