XM, Sirius Near $20M Deal With FCC

Law360, New York (July 24, 2008, 12:00 AM EDT) -- Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. are reportedly on the verge of a settlement with the U.S. Federal Communications Commission that would allow a controversial merger between the companies to go through.

The FCC and the companies have reached a tentative agreement under which XM would pay a fine of $17.5 million and Sirius a fine of $2.2 million for past technical violations, including the use of radio receivers and terrestrial repeaters that violated FCC rules, the Washington Post and others have...
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