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FCC Extends Sirius XM Deadline to Lease Channels Yet Again

|Includes:Sirius XM Holdings Inc. (SIRI)

As part of merger conditions of the Sirius XM Radio merger, Sirius XM Radio voluntarily committed to leasing 4% of its bandwidth to qualified entities. The FCC has yet again extended its deadline to June 29th, 2009 to decide on the details of the lease back program. The FCC expects to implement guidelines for the lease back program in the very near future and thus the need for the extension. The original FCC deadline was November 28th, 2008 and the FCC has twice previously extended its deadline to February 27, 2009 and May 29, 2009. The FCC plans to give additional details on when Sirius XM Radio needs to implement the lease back program in its soon to be delivered implementation order.

Read the FCC's explanation for changing the deadline below:


Stocks: SIRI