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Martin: FCC May Rule on Sirius-XM Merger by June 30

The FCC could reach a decision on proposed Sirius-XM Satellite Radio merger by the end of June, Chairman Kevin Martin said at a press conference on Friday. "I still think the Commission could act by the end of the second quarter," Martin told reporters -- even though the matter did not appear on the agency's agenda for its regular monthly meeting on June 12.

In recent weeks, many lawmakers and several interest groups have asked the FCC to impose restrictions, if approved, including the spin-off of some of the two company's spectrum -- which is larger than the AM and FM bands combined. Groups also want the agency to require that HD Radio be included in any new receivers.

Regardless, the Commission isn't required to reach a decision by any specific date, and could delay its decision beyond June if Commissioners can't reach a decision. The Justice Department approved the merger on March 24.

Based on yesterday stock prices, the value of the all-stock transaction has declined $700 million to $3.9 billion from $4.6 billion when the deal was announced in February, 2007. (05-23-08)

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Updated as of: 06-11-08 11:27pm CT