XM, Sirius Merger Not Possible

The Federal Communications Commission said that a merger between XM Satellite Radio Holdings Inc. (XMSR) and Sirius Satellite Radio Inc. (SIRI) would be impossible due to a provision in licenses held by the two. Shares of XM dropped $1.69 to close at $15.45 while Sirius stock lost 29 cents to close at $3.86.