Articles

Sirius and XM Gain Approval For Merger

In economics/money, Industry, Satelite Radio, Technology on March 25, 2008 by Editor Z

Sirius Satellite radio has gained a large victory, in surmounting the potential obstacle of an ant-trust law in its quest to purchase and merge with its only rival in the field XM radio.

The approval from the U.S Justice Department on the merger came late Monday. Many especially in the terrestrial radio industry voiced objection to the move and many others worried that the merger would in fact monopolize the satellite radio field since the two companies in question are the only Satellite radio providers.

However arguments by the two companies, that technology such as ipods, terrestrial radio, and other forms of music and entertainment are competition for the still young satellite radio industry won out the day.

Sirius announced the $4.59 billion merger with XM last year.


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