Media
Sirius & XM Facing New FCC Troubles? (SIRI, XMSR)
Published:
Last Updated:
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
Sirius Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio (NASDAQ: XMSR) just saw shares tank intra-day. The Wall Street Journal has reported that an FCC member has voted against the merger making the vote now stand 2-1 (2 for, 1 against) with 2 votes remaining. CNBC also just rang in on this situation so we are still looking for more solid data on this situation.
This does cite "sources" rather than making the come out like a press release. It also cited that discussions are continuing.
SIRI shares were down 7% at $2.25 and XMSR shares are down 7.5% at$8.36 at 1:09 PM EST and at 1:17 PM EST shares of SIRI were only downabout 4% at $2.32 and XMSR shares were only down about 3% at $8.80.
Earlier this month we did a piece discussing who some of the winners might be if satellite radio actually failed.
Jon C. Ogg
July 22, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.