Monday, March 24, 2008

XM-Sirius Merger Gets Antitrust OK - Justice Department signs off on merger; FCC action still pending

The Justice Department has given the go-ahead to Sirius Satellite Radio Inc.'s proposed $4.59 billion acquisition of XM Satellite Radio, after finding no antitrust barriers.
The department said the combined company won't be able to raise prices excessively because of competition from other entertainment media, including broadcast radio and MP3 players. There wasn't enough evidence the merger "would substantially lessen competition or harm consumers," Justice antitrust chief Thomas Barnett said. More... Discount Magazine Subscriptions - Discount Cigarettes & Tobacco - Nutty News Marketplace - Church & Dwight