Sirius, XM approval delayed
A dispute among FCC members has delayed a final decision on the proposed satellite radio tie-up.
Washington, D.C. -- Satellite radio fans who have waited more than 16 months for a merger of the industry's only two providers will have to wait a little longer.
A dispute surfaced Friday between Federal Communications Commission members that delayed a final decision on Sirius Satellite Radio Inc.'s buyout of rival XM Satellite Radio Holdings Inc.
Republican commissioner Deborah Taylor Tate had pledged to vote in favor of the buyout if the commission settled pending enforcement actions against the companies.
On Thursday, the two companies agreed to sign a consent decree and pay $19.7 million to settle infractions of FCC rules regarding radio receivers and land-based signal repeaters. The companies agreed to the settlement, but Tate has not voted on the merger, apparently because Chairman Kevin Martin, a fellow Republican, has yet to vote on the consent decree.
"Chairman Martin has not cast his vote for approving the consent decree because he has no reassurances at this time that Commissioner Tate is willing to approve the merger," said an FCC official familiar with the chairman's position.
But according to another FCC official who is familiar with Tate's position, the latest version of the order recommending approval of the merger was not circulated until after 4 p.m. ET, and her staff needed time to review it. They were also waiting word of a final vote on the enforcement decree.
Both officials asked not to be named because of the sensitivity of the negotiations. Despite the game of chicken, it is appears unlikely that Tate will vote against the buyout given her earlier pledge.
Martin and fellow Republican Robert McDowell are both in favor of the deal while Democrats Michael Copps and Jonathan Adelstein are opposed.
The value of the buyout dropped to $3.3 billion Friday as Sirius shares fell 17 cents to $2.25 at the close of trading. 
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