Justice Dept. OKs merger of XM, Sirius; now it's up to FCC

The Justice Department gave its OK on Monday to a deal that would put Howard Stern and Oprah Winfrey under the same satellite radio company roof. Antitrust officials said that they saw no reason to block or put conditions on Sirius' acquisition of XM, leaving consumers with a single satellite radio provider. "We determined that we did not have evidence to support a challenge," says Thomas Barnett, who heads the antitrust division. (AP, Financial Times, PR)

Sirius Says It Could Do Without XM

Sirius Satellite Radio said that it gained subscribers in the fourth quarter and lost less money, signs that its business is improving even as the company's merger with XM Satellite Radio Holdings remains stuck in a regulatory limbo more than a year after it was proposed. (Washington Post)

XM Satellite Radio Increases Revenue, Narrows Loss

As the company continues to wait for a decision from federal regulators concerning its proposed merger with rival Sirius reported quarterly revenue of $308 million, up 20% from the same period in 2006, and a net loss of $239 million, down $18 million. (DigitalMediaWire, PR)

XM Satellite resolves lawsuit with Sony BMG

XM Satellite Radio Holdings Inc said on Friday it has resolved a lawsuit brought by Sony BMG over Pioneer Inno, a portable satellite radio with advanced recording features. In a statement, XM said Sony BMG Music Entertainment has withdrawn as a party to the complaint filed by major record companies against XM in May 2006. Terms of the deal were not disclosed. (Reuters)

Sirius and XM merger approval close?

Briefing.com, a site that is widely followed by traders, is citing an unnamed report Wednesday morning saying that “XMSR-SIRI merger could receive approval from DoJ and FCC tonight.” That isn’t much in the way of any real information. but don’t tell that to Wall Street. Shares of XM were up nearly 4 percent in mid-morning trading while Sirius’ stock gained more than 5 percent. This is worth noting considering that the rest of the stock market, and the tech sector in particular, is trading lower Wednesday, thanks in large part to Apple’s (AAPL) disappointing outlook. (CNN Money)

SoundExchange Finds Little Love on Satellite Appeal

The US Copyright Royalty Board (CRB) recently denied an appeal by SoundExchange to reconsider satellite royalty rates. SoundExchange, which represents recording industry interests, initially expressed dissatisfaction with a ruling delivered in early December of last year. That decision set recorded royalty rates at 6 percent of gross revenues, a level that ramps to 6.5 percent by 2009, and 7.5 percent by 2010. Part of the disagreement stemmed from the methods used for calculating applicable gross revenues, though the Board refused to retune. (Digital Music News)

HD, Satellite Radio Subscribers Headed Toward 70 Million, Report

Emerging radio technologies are poised to attract serious buy-in by 2012, according to a recent projection by Dallas-based Parks Associates. The researcher projected a total of 70 million subscribers in the United States over the next five years, up from an estimated 24.7 million in 2008. At present, satellite radio has more than 20 million subscribers, while HD - or digital - radio has attracted roughly 4 million. (Digital Music News)