Sirius, XM radio eager for ruling on merger plans

SIRIUS, XM RADIO EAGER FOR RULING ON MERGER PLANS
[SOURCE: USAToday, AUTHOR: David Lieberman]
Friendly satellite radio rivals Sirius and XM enter the final month of 2007 with reasons to be wary. They have to worry whether the softening economy will hurt new car sales — the largest generator of new satellite radio subscribers. Also up in the air is how many holiday shoppers put portable satellite radios on their gift lists. Several analysts were disappointed by non-car radio sales for Sirius and XM in the third quarter. That led Goldman Sachs analyst Mark Wienkes to write that "The retail satellite radio market is on life support." But more than anything, the companies are anxiously waiting to see whether federal officials will OK Sirius' agreement last February to offer stock currently worth about $5 billion for XM. The Justice Department could say any day whether it will challenge the deal on antitrust grounds. The Federal Communications Commission is expected to follow with a vote on whether it's in the public interest to let Sirius take control of XM's licenses to use the public airwaves. Sirius and XM say they expect federal approvals in time for their deal, billed as a merger of equals, to close by year's end. Analysts aren't so sure.
http://www.usatoday.com/printedition/money/20071128/satradio.art.htm