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A security guard walks past cars in a Geely Automobile Holdings Ltd. factory in a Shanghai suburb September 28, 2006.REUTERS/Aly Song

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XM Satellite 'confident' reviews moving forward

SAN FRANCISCO
Wed Mar 12, 2008 11:57am EDT

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SAN FRANCISCO (Reuters) - XM Satellite Radio Holdings Inc XMSR.O Chairman Gary Parsons said on Wednesday he is confident that regulatory reviews of the planned acquisition of the company by Sirius Satellite Radio Inc (SIRI.O) are moving forward "in a timely manner."

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The U.S. Department of Justice and the Federal Communications Commission are examining the proposed deal to ensure it does not violate antitrust rules.

"We believe that DOJ has the information and feel the FCC has the necessary information to complete their decision-making process and have confidence they will move forward and will complete that in a timely manner," Parsons said at a Bear Stearns investor conference.

(Reporting by Philipp Gollner; editing by John Wallace)
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