A majority of commissioners at the Federal Communications Commission have reached a deal to approve Sirius Satellite Radio Inc."s long-pending purchase of XM Satellite Radio Holdings Inc. The final hold-out, Republican commissioner Deborah Taylor Tate, agreed to vote to approve the deal after winning several concessions from the companies involving enforcement issues. "I think its fair to say an agreement in principle has been reached," FCC Chairman Kevin Martin said in an interview Thursday morning. "Were still trying to work out the language."
A deal was reached with the companies late Wednesday night to pave the way for Ms. Tates vote on the merger, Mr. Martin said. Four of the commissioners had already voted on the deal, but they had split 2-2 on whether to approve it. The companies have agreed to pay almost $20 million to settle the complaints, with XM paying about $17.5 million and Sirius paying about $2.2 million.