Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

FCC head approves XM, Sirius deal

Ashley Milne-Tyte Jun 16, 2008
HTML EMBED:
COPY

FCC head approves XM, Sirius deal

Ashley Milne-Tyte Jun 16, 2008
HTML EMBED:
COPY

TEXT OF STORY

Scott Jagow: If XM and Sirius stay separate companies, they argue they’ll have a tough time competing in the radio world. But if they merge into one company, they can cut costs and offer more programming to people.

That’s been their argument for 16 months now. As of this morning, the head of the Federal Communications Commission finally agrees. More now from Ashley Milne-Tyte.


Ashley Milne-Tyte: The Department of Justice approved the XM/Sirius deal in March. Now the FCC chairman says he’s in favor of a merger.

Kevin Martin says XM and Sirius have made voluntary commitments that make the deal in the public interest. Among those commitments are giving over 24 channels to noncommercial and minority programming, and freezing prices for three years.

The companies will also offer a so-called a la carte pricing option that will let subscribers choose pricing plans ranging from $6.99 to $16.99 a month.

Now Martin has put his seal of approval on the deal, it’s up to the four other FCC commissioners to weigh in. And they could vote early as this week.

I’m Ashley Milne-Tyte for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.