According to the Wall Street Journal, the FCC will approve the merger of the two satellite radio companies, Sirius and XM.
FCC Reaches Tentative Deal
To Approve XM-Sirius Merger
By AMY SCHATZ
July 23, 2008 2:34 p.m.
WASHINGTON – A tentative deal has been reached by a majority of commissioners at the Federal Communications Commission to approve the merger of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc., a FCC source close to the review said Wednesday.
Republican commissioner Deborah Taylor Tate is the only FCC member left to vote on the deal and she is expected to do so shortly, two FCC officials close to the negotiations said. She is expected to sign off on the deal in exchange for a consent decree that resolves several enforcement issues involving the satellite radio companies and a combined fine of about $20 million, an FCC source close to the deal said.
While this vote was on a party-line basis, with the three Rethugs voting in favor and the two Democrats opposed, I have to say that I think they did the right thing. Why? It's simple--without the merger, both companies would have gone bankrupt; with the merger, the combined company has a chance.