It's been a long 16 months and a wild and bumpy ride for stockholders of Sirius and XM since the two satellite radio companies began merger talks. Recent news

that the FCC's chairman is backing the proposed $7.5 billion merger puts one huge hurdle behind the deal, but it doesn't mean the deal is a forgone conclusion, says merger attorney Marcello Hallake of Thompson & Knight's New York office. "While the Justice Department found the deal was not anticompetitive, there continues to be opposition to the merger from conventional broadcasting companies, as well as politically motivated concerns," says Hallake, who represents international telecommunications companies in mergers and acquisitions. Shareholders of both companies, as well as the Department of Justice, have already endorsed the proposed merger, and an FCC ruling is all that now stands in the deal's way. While the FCC chairman has endorsed the deal, Hallake says that four of the FCC's commissioners, including the panel's two Democrats, may seek more conditions or concessions.To interview Mr. Hallake about merger considerations, contact Barry Pound at 800-559-4534 or barry@androvett.com.