FCC Finally OKs XM-Sirius Merger
It was a ridiculously long time coming, but on Friday the FCC officially approved the merger between XM Satellite Radio and Sirius, reports MediaBuyerPlanner.
The National Association of Broadcasters immediately relayed the following statement (via Barron’s): "Today’s vote certainly comes as a disappointment to NAB. We continue to believe that consumers are best served by competition rather than monopolies."
Yesterday Sirius announced preliminary second quarter 2008 financial results, citing a 25 percent increase in revenue to $283 million and a 70 percent decrease in its adjusted loss from operations. Subscribers now total over 8.9 million, including an addition of 279,302 new subscribers in the quarter
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