XM Satellite Gets an FCC Sigh of Relief

XM Satellite Radio (XMSR) has confirmed that the FCC issued new grants of authority for three XM radios with FM transmitters after determining that the radios are in compliance with FCC regulations. These XM plug-and-play radios (Audiovox Xpress, Delphi RoadyXT, and XM Sportscaster) are three of XM's primary products at retail. XM is notifying its manufacturers to resume production of these devices. These new products are expected to be available at retail for the holiday shopping season.

These delays were hurting teh stock earlier this summer and this will confirm some positive research reports saying this would be resolved by the end of August. Shares are now up 5.7% to $13.64 on the news.

Jon C. Ogg
August 25, 2006