XM-Sirius Pact Closer to Approval: Report

Stock quotes in this article: XMSR , SIRI  

Within 60 days of adopting the consent decree, XM must shut down 50 variant terrestrial repeaters and will have to either close or bring into compliance an additional 50 repeaters. Sirius will be forced to bring into compliance or shut 11 repeaters. Sirius said those repeaters were already taken out of services in October 2006.

"There can be no assurances regarding the ultimate outcome of these enforcement proceedings, including whether the FCC will approve consent decrees under discussion with the companies," XM and Sirius said in a joint statement.

The sides must also adopt Martin's laundry list of concessions, which includes a-la-carte pricing, a three-year cap on price increases, an open standard for the manufacturing of radio receivers, spectrum set aside for additional public interest channels, and that service be extended to Puerto Rico, where neither company currently offers service.

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