Justice Department approves XM-Sirius merger
updated 11:05 pm EDT, Mon March 24, 2008
XM-Sirius merger approved
The US Federal Justice Department today approved the highly controversial XM-Sirius merger, with some in the industry claiming that despite over 10 years of rebellious behavior against the FCC, the decision will grant monopoly status to the two companies. Just over a month ago, the two satellite radio content providers had officially announced the desire to merge, which many Sirius shareholders voted to approve.
The National Association of Broadcasters has disapproved of the merger since its conception.
"We are astonished that the Justice Department would propose granting a monopoly to two companies that systematically broke FCC rules for more than a decade," said NAB executive VP Dennis Wharton. "To hinge approval of this monopoly on XM and Sirius's refusal to deliver on a promise of interoperable radios is nothing short of breathtaking."
