Printed from http://www.electronista.com

SIRIUS, XM agree to keep merger deal until May

updated 01:40 pm EST, Fri February 29, 2008

SIRIUS XM Extend Deal

SIRIUS and XM today said they would extend their merger agreement, ensuring that the union of the two satellite radio providers remains on the table. The extension prevents an existing deal from ending in March and bars either company from voluntarily backing out of the proposed merger between the two networks until May 1st. Neither company has revealed whether it will remain committed to the merger if the new agreement expires before official approval from both the Department of Justice and the FCC.

The delay in uniting the two satellite services is already regarded as unprecedented in the market, as the deal was originally proposed roughly a year ago but has not seen any US federal body rule on its legality since it became public. The merger has been hotly contested by traditional radio sources, many of whom claim that a merged Sirius-XM would constitute a monopoly or else make it difficult for terrestrial radio to compete. Both Sirius and XM have claimed that they compete both against multiple radio formats but also portable media players and other digital forms of music.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Fugoo Bluetooth speaker

It's rare to find a Bluetooth speaker that can cover a large array of needs. Generally, speakers are wrapped in a desktop-convenient d ...

Epson LW-600P

Label makers are traditionally simple machines that perform a single task which people feel they can either live with or without. In m ...

DXG IronX 5G9V HD action cam

Since the introduction of the GoPro, numerous action cams have come out of the woodwork to tackle the consumer need for camcorders tha ...

Sponsor

toggle

Most Commented

 
toggle

Popular News