Updated: Agreement Reached To Approve XM-Sirius: Reports

imageUpdate 2: Now WSJ is reporting that a tentative deal has been reached to approve the merger. According to the report, Tate will give her blessing to the union upon the implementation of certain enforcement actions and a $20 million fine combined between the two companies (note: that $20 million will be handed over with all smiles if it means an end to this mess). Meanwhile, XM (NSDQ: XMSR) shares are spiking on the news, currently trading up over 8 percent. Sirius (NSDQ: SIRI) shares are up just under 4 percent.

Original post: Nearly a year and a half later and it all comes down to one vote… FCC Commissioner Jonathan Addelstein, a Democratic appointee, has voted against approving the merger of XM and Sirius, reports AP. We noted yesterday that the tally stood at 2-1 in favor, so we’re all tied up now. So if only because she waited the longest to vote, the weight of the world is on the shoulders of Deborah Taylor Tate. Don’t touch that dial.

Update: Reuters says Tate is close to voting in favor of the deal, per an agreement arranged by Commissioner Martin. We shall see.