FCC Staff Backs XM-Sirius Deal

Still, the full agency has to approve the merger.
Author:
Publish date:

Updated from 9:48 a.m. EDT

The staff of the Federal Communications Commission is recommending that the agency finally clear the planned merger of

XM Satellite Radio

(XMSR)

and

Sirius Satellite Radio

(SIRI) - Get Report

, a published report said Monday.

According to

The Wall Street Journal

, a final vote on the transaction could take place as soon as three weeks from now if certain conditions are met. The conditions, the report said, were proposed by commission Chairman Kevin Martin, and deal with pricing.

The Justice Department said in March that it would allow the deal to take place, but the FCC also has to grant approval.

Cramer: XM-Sirius Has a Ways to Go

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 1610727547; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

Shares of XM were recently gaining 6.5% to $11.58, and Sirius was advancing 5.5% to $2.68.

This article was written by a staff member of TheStreet.com.