From thestreet.com

Shares of Sirius Satellite Radio and rival XM tumbled Wednesday after the chairman of the Federal Communications Commission said agency rules wouldn’t allow the two to merge.

A potential merger of the companies has been the subject of repeated speculation in recent months, but Bloomberg quoted FCC Chairman Kevin Martin as saying that existing regulations prohibit a single owner for the two satellite-ratio operators.

Martin made the comments following an FCC meeting. Sirius was dropping 5.5% to $3.92. XM was slumping 7.6% to $15.83

Thanks MrBroncosfan for the link.

[B]Update: 3:40pm ET[/B]
SIRI: 3.87 (-0.28) XMSR: 15.66 (-1.48)

Comment here.

Posted by RyanM on Wednesday, January 17th, 2007 at 4:24 pm.
Filed in Sirius.
You can leave a trackback from your own site.