XM, Sirius Shareholders to Vote On Merger

XM, SIRIUS SHAREHOLDERS TO VOTE ON MERGER
[SOURCE: Broadcasting&Cable, AUTHOR: John Eggerton]
XM and Siruis Satellite Radio have scheduled tandem shareholders meetings for Nov. 13 to vote on their proposed merger. Neither the Federal Communications Commission nor the Federal Trade Commission has approved the merger, which would create a single satellite-radio company and combine satellite licenses the FCC initially indicated should not be held by one owner. But the companies -- which argued that an XM-Sirius combination would create a stronger competitor in a crowded audio market -- vowed that they will get the OK and want to have that shareholder approval teed up so that the deal can move quickly after a decision in its favor.
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