Officials with XM Satellite Radio and Sirius Satellite Radio have agreed to extend a self-imposed deadline as they wait for government approval to merge.
Company officials announced Friday, Feb. 29, that they will not exercise a clause to terminate the proposed merger for another two months. Officials stated in a joint release that they would wait until May 1 to see if the merger proposal receives approval.
“The closing of the pending merger remains subject to satisfaction of all applicable conditions, including approval from the Department of Justice and the Federal Communications Commission,” XM and Sirius officials stated.
Company officials agreed in February 2007 to a “merger of equals” worth $13 billion.
Both satellite radio companies have programming geared specifically for trucking in addition to news channels, music, talk, sports and specialty programming.