Note the last CCU Requirement.

If granted, Step One has been taken.


From AllAccess.com
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Clear Channel Outlines Sirius-XM Merger Concessions

CLEAR CHANNEL COMMUNICATIONS outlined its most detailed concession
requirements in a filing with FCC posted TODAY, should the Commission
approve the merger between SIRIUS SATELLITE RADIO INC. and XM SATELLITE
RADIO HOLDINGS INC, reports ORBITCAST.COM. While earlier FCC filings
have essentially reiterated CLEAR CHANNEL's prior argument that granting
the merger would permit for too much spectrum control for a single
entity, the filing posted online TODAY gives the most level of detail
about merger concessions.

"Were the Commission inclined to approve the merger, nonetheless, it
should, at a minimum, impose the following conditions that would be
essential to remain even remotely faithful to Commission precedents and
policies regarding competition, spectrum and preservation of a viable,
locally-oriented, free, over-the-air radio broadcast system," the
company wrote in an ex parte filing.

The merger conditions that CLEAR CHANNEL is requesting include:

* No less than 50% of broadcast capacity be made available for lease to
create "a viable competitive alternative" to the merged company.
* No less than 5% of capacity be set aside for public interest
programming, modeled after the 4-7% requirement for DBS services.
* That Sirius-XM be subject to indecency regulations. Because, "one of
the primary potential dangers to free, over-the-air radio posed by this
merger is siphoning popular, including 'edgy' content, with consequent
loss of advertising revenue."
* Sirius-XM be prohibited from broadcasting local content.
* Sirius-XM be prohibited from receiving local advertising revenue.
* The FCC require that HD Radio capabilities be built in to all
satellite radio receivers.