Sirius, XM Extend Merger Agreement
[Satellite Today – 4-30-08] XM Satellite Radio and Sirius Satellite Radio have agreed to extend their merger agreement indefinitely, the companies announced April 30.
The companies agreed to extend the merger agreement, as necessary, for rolling two-week periods unless either side notifies the other of its intention not to extend.
The companies have been waiting for more than a year for the U.S. government to approve or deny the deal. The Department of Justice signed off on the agreement in March, but the Federal Communications Commission has not yet made a decision.