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LOS ANGELES Shares of the satellite radio companies advanced Wednesday on renewed confidence — fueled by comments made by top brass at Sirius and XM — that merger approval is forthcoming.
At the Bear Stearns 21st annual Media Conference, Sirius CEO Mel Karmazin said that he was hoping for a ruling by month’s end. Karmazin’s prediction seemed more specific than other statements he has made this year.
Sirius and XM agreed to a merger more than a year ago, though the Federal Communications Commission and Department of Justice have been taking their time to either approve or object to the plan.
However, Karmazin said the time line could change, especially given that executives at both companies expected their merger to be accomplished four months ago.
Karmazin
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