Sirius and XM Agree to Allow More Time for Merger Decision

05 March 2008

NEW YORK: Sirius Satellite Radio and XM Satellite Radio, still eager to consummate their mooted $4.6 billion (€3.03bn; £2.32bn) marriage, have agreed to extend the deadline by which either party can terminate the deal without penalty.

Currently slated for March 1, the deadline has been extended by two months while the Federal Communications Commission and Department of Justice continue to mull the deal's merits or otherwise.

"We wait by our telephone," said Sirius ceo MelKarmazin during a Sirius earnings call last week. "But we really have not heard anything from them. It has been more radio silence than anything else."

Data sourced from AdWeek (USA) / Hollywood Reporter; additional content by WARC staff