XM and Sirius both postponed annual shareholder meetings as they awaited final FCC approval of their planned merger, the Washington Post reports. The nation’s only satellite-radio operators are expected to win approval, but their plans have faced new criticism from lawmakers and state attorneys, and there may yet be conditions on the partnership.
The FCC is deciding whether joining the licenses is in the public interest, consideration that includes pricing issues. The commission rarely votes against the Justice Department, which OK'd the deal last month. The satellite companies have defined competition broadly—and argued that they have plenty—but the FCC may require a combined entity to lease spectrum for the formation of a new rival.