On January 18, 2007, the Federal Communications Commission ruled that licensing regulations would prohibit a possible merger of XM and Sirius Satellite Radio. On February 19, XM Satellite Radio Holdings Inc. and Sirius Satellite Radio announced they would merge. On March 20, 2007, XM and Sirius Satellite Radio filed a "Consolidated Application for Authority to Transfer Control" at the FCC. On July 24, XM announced that CEO Hugh Panero would leave the company in August, and that then-current President and COO Nate Davis would step in to serve as president and interim CEO.