XM Satellite Radio canceled plans to acquire privately held WCS Wireless after both companies failed to get government approval for the deal. WCS Wireless owns wireless spectrum licenses in 15 of the top 20 metropolitan markets, which the District-based subscription radio provider hoped to use to offer multimedia services, such as video content, to automobiles. Both companies had hoped to close the deal by now, but the Federal Communications Commission had yet to sign off on the acquisition, which had been announced in July. As a result, XM and WCS decided to end their agreement, so WCS could "pursue alternatives for its spectrum," XM Chairman Gary Parsons said in a statement.

Tim Farrar, a satellite communications consultant in Menlo Park, Calif., said XM has other options for gaining access to additional spectrum, such as partnering with mobile satellite operators who have FCC permission to reuse some of their existing spectrum beyond satellite phone service. XM has more than 6 million subscribers who pay $12.95 per month to receive more than 150 channels of music, news, entertainment and talk.

J.E. Robert to Acquire Jameson Inns

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J.E. Robert of McLean, which manages and invests in real estate, agreed to buy Jameson Inns of Atlanta in a deal valued at $371 million, including the assumption of $190 million in debt, and to take the company private. J.E. Robert agreed to pay $2.97 for each outstanding Jameson Inns share, a premium of 30 percent on Jameson's closing price on the Nasdaq on Friday. The deal is expected to close in the third quarter, pending shareholder approval. Jameson shares closed yesterday at $2.85, up 56 cents.

Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.

© 2006 The Washington Post Company