NEW YORK (Reuters) - XM Satellite Radio Holdings and Sirius Satellite Radio said they could pay up to $19 million to settle past compliance issues with federal regulators, a move that helps clear the way for U.S. Federal Communications Commission approval of their merger.
The two companies confirmed on Thursday they are in talks with the FCC's enforcement bureau to settle outstanding enforcement issues regarding the compliance of certain radios that include FM transmitters, along with other matters.
XM and Sirius said that as part of a possible consent decree, they expect to make voluntary contributions to the U.S. Treasury of $17 million and $2 million, respectively.
They also expect to adopt comprehensive compliance plans and address potentially non-compliant radios remaining in the hands of customers.
The FCC on Wednesday neared agreement to cast a tie-breaking vote in favor of the deal, and approval could come as early as this week.
The two companies confirmed on Thursday they are in talks with the FCC's enforcement bureau to settle outstanding enforcement issues regarding the compliance of certain radios that include FM transmitters, along with other matters.
XM and Sirius said that as part of a possible consent decree, they expect to make voluntary contributions to the U.S. Treasury of $17 million and $2 million, respectively.
They also expect to adopt comprehensive compliance plans and address potentially non-compliant radios remaining in the hands of customers.
The FCC on Wednesday neared agreement to cast a tie-breaking vote in favor of the deal, and approval could come as early as this week.
