Sirius, XM Drop on Debt Plans (Update)

The company did not provide a date for when it will release its full second-quarter earnings report.

The earnings preannouncement comes a three days after the Federal Communications Commission approved the merger between Sirius and rival XM. Commissioner Deborah Taylor Tate voted late Friday to approve it, breaking what had been a 2-2 tie.

The FCC's decision ends a 13-month review process, during which consumer groups and traditional radio operators had lobbied hard against the merger. Sirius and XM have contended that their combination will generate significant cost savings and give subscribers more programming choices.