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NEW YORK (Reuters) – Sirius Satellite Radio’s planned acquisition of rival XM Satellite Radio Holdings Inc appeared on Monday to draw closer to consummation after a key U.S. regulator expressed support for the 16-month-old deal, driving up both companies’ shares.

Federal Communications Commission Chairman Kevin Martin confirmed published reports that he would support the transaction, with the companies agreeing to a series of conditions.

Read the full article www.reuters.com/article/technologyNews/idUSN1645684620080616here.