Justice Dept. Approves XM/Sirius Merger

Ripit writes "Just yesterday the Justice Department approved the merger of Sirius Satellite Radio and XM Radio, a Sirius takeover to the tune of $5 billion. The transaction was approved without conditions, despite opposition from consumer groups and an intense lobbying campaign by the land-based radio industry. 'In explaining the decision, Justice officials said the options beyond satellite radio -- digital recordings, high-definition radio, Web radio -- mean that XM and Sirius could merge without diminishing competition. "There are other alternatives out there," Assistant Attorney General Thomas O. Barnett said in a conference call. "We just simply found that the evidence didn't indicate that it would harm consumers."'"

Comments

since Satellite radio has so few consumers

[Culture20]

"We just simply found that the evidence didn't indicate that it would harm consumers."
...since Satellite radio has so few consumers...

Thank you, Justice Department!

[jpellino]

You're dreamy. Now there's 50% less competition for those of us who always aspired to starting up a satellite radio service.

Re:Took them long enough...

[bugnuts]

XM & Sirius asked the justice department for approval over a year ago. Why on earth did it take them so long to approve this? The FCC had to make sure the offer was Sirius.