Sirius / XM merger approved by Justice Department
On February 19th, 2007, rival satellite radio providers Sirius Satellite Radio and XM Satellite Radio announced a merger worth $5 billion. It was approved by shareholders last November, but many weren't confident the Justic Department would approve the merger of satellite radio's only two providers. Today it has done just that, removing one of the last obstacles to the holy union of these two companies. The feds' main justification for its approval is that the companies compete as much with other forms of radio (terrestial, HD, etc.) and entertainment as they do with each other, therefore, consumers will likely not be harmed satellite radio will still face stiff competition. If satellite radio is to survive the onslaught of in-car entertainment options, which will soon include the web itself, this merger is a must. Howard Stern (Sirisu), meet Oprah (XM).
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