FCC approves Sirius Satellite acquisition of XM
WASHINGTON (Reuters) - Sirius Satellite Radio Inc's 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 Federal Communications Commission voted 3-2 in favor of a proposal that would allow the deal to proceed as long as the companies meet a series of consumer protection conditions, including a three-year cap on prices, set-aside of channels for minority and non-commercial programming and payment of a $19.7 million penalty for past FCC rule violations.
(Reporting by Peter Kaplan: Editing by Tim Dobbyn)
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