XM Merges With Sirius

Earlier today, the Justice Department approved Sirius Satellite Radio's proposed $4.59 billion (!) aquisition of satellite old-schooler XM Satellite Radio.

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This decision created one single US satellite radio provider.

In response to questions fearing a monopoly, the Justice Dept. said " the combined company won't be able to raise prices profitably because of competition from such forms of audio entertainment as broadcast radio and MP3 players."

Read the rest of the article here.

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