Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

Long wait for satellite radio deal may end soon



By CHRISTOPHER S. RUGABER, AP
06 July 2008 @ 02:20 pm ET

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
SIRI 0.63 -0
XMSR 8.17 0
CCU 37.19 1.13

Another likely factor in the delay, analysts said, is wrangling by the commissioners over which conditions to place on the deal. FCC Chairman Kevin Martin recommended last month the deal be approved, based partly on the companies' willingness to accept a three-year price freeze.

The companies also promised to set aside 24 channels, or 8 percent of capacity, for noncommercial and minority programming, and agreed to an "open radio" standard that allows other manufacturers to make compatible receivers.

Members of Congress have pushed for additional considerations. Last week, three Democratic senators urged Martin to require the companies to set aside at least 20 percent of their roughly 300 channels for noncommercial and minority stations, among other conditions. Five members of Congress from Minnesota sent a similar letter June 27.

But Paul Gallant, an analyst at the Stanford Financial Group, said the letters would likely have "minimal impact" at this late date.

Copyright 2009 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Industries
Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend...
California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the s...
Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rat...

advertisement
Advertisement
POS Magnetic Card Readers

Online distributor for point of sale equipment, TYSSO and Pegasus.

 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives