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Justice Dept. Approves XM-Sirius Deal


Howard Stern, uncensored!
(But why?)

Sirius Satellite Radio's $4.59 billion purchase of rival XM Satellite Radio was given antitrust clearance after the Justice Department concluded the merger would still leave consumers with many alternatives, including mobile phones and personal audio players.

Shares of both companies — the only providers of satellite radio in the US — rose sharply, reports Reuters.

The National Association of Radio Broadcasters, which fought the deal, told Reuters that the Justice Dept. contributed to the creation of a monopoly.

Sirius and XM are currently losing money. Each charge subscribers $13 a month for over 100 channels of news, music, talk and sports.

The Justice Dept. said the merger would lead to "substantial" cost saving steps that would "most likely be passed on to consumers in the form of lower prices."

The deal awaits approval from the FCC.

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