Skip to: Content
Skip to: Site Navigation
Skip to: Search
« Back to the grid | Next story »

Satellite Merger Clears Hurdle

Posted Mar 24, 08 3:32 PM CDT in Technology,  Business 

(Newser) – The Justice Department today approved the proposed merger between satellite radio firms Sirius and XM, the Wall Street Journal reports. The FCC must still sign off, but the pair appears to have allayed antitrust concerns about the merger of the industry's two largest companies by arguing that they face competition from all music providers, including conventional radio.

Though the FCC rarely contradicts Justice rulings, it could add extra conditions. Sirius and XM now must focus on making the integration a smooth one and making good on benefits promised for the new conglomerate—including full compatibility with both services on each others' receivers, a feature not currently available.

Source Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Sirius, XM Stocks Rise as Merger Looms

    Nov 30, 07 1:16 PM CST
    Sirius, XM Stocks Rise as Merger Looms XM Satellite Radio and Sirius stock prices got a boost Friday when an analyst predicted the Justice Department won't block Sirius from buying out the larger XM. Morning trade saw XM shares jump 9.4% and Sirius shares 4.6%, reports CNN. The analyst said that shares could hit $20 and $4.50, respectively, if the deal goes through. More »

  • XM, Sirius Say Post-Merger Prices Will Fall

    Jul 23, 07 3:55 PM CDT
    XM, Sirius Say Post-Merger Prices Will Fall In an attempt to lower resistance to their proposed merger, satellite radio providers Sirius and XM unveiled new pricing plans today that they say will cut subscription prices by 46%. The plans, which start at $6.99 as opposed to the current $12.95 per month standard price, also allow listeners to select channels to add a la carte. More »

  • XM Fans Irate at Shock Jock Suspension

    May 17, 07 4:01 PM CDT
    XM Fans Irate at Shock Jock Suspension Fans of "The Opie & Anthony Show" cancelled their satellite radio subscriptions by the hundreds after XM slapped the shock-jock duo with a 30-day suspension earlier this week. Subscribers are accusing the station—which promises uncensored content—of pandering to the FCC so they won't block a pending merger with Sirius. More »

XM Satellite Radio and Sirius Satellite Radio products are advertised side by side on the exterior windows of the Al & Ed's Autosound store in the Sherman Oaks section of Los Angeles, March 21, 2007.   (AP Photo/Damian Dovarganes)
A Chrysler Jeep drives past an advertisement for XM Satellite Radio at the New York International Auto Show in New York in this April 13, 2007 file photo.   (AP Photo/Mark Lennihan, file)
« Prev« Prev | Next »Next » Slideshow

Threads (
1
 of 3)

Tags

mergers and acquisitions • FCC • music industry • radio • Justice Department • competition • Sirius • satellite radio • XM Satellite Radio • music distribution • consolidation


Loading...

Today's Most Popular

Loading...
SPONSORED NEWS ARCHIVE

Pirates seize an oil tanker; Hijacked: The Sirius Star has two British crew... (The Daily Mail (London, England))

Indian navy blows Somali pirate ship out of the water (Evening Standard - London)

Oil tanker hijackers want [pounds sterling]6m ransom. (The Daily Mail (London, England))

PAY UP.. AND NO FAKES; Pirates demand tanker ransom.(News) (The Mirror (London, England))

Brits held by tanker pirates.(News) (Daily Record (Glasgow, Scotland))

EUR100M HIJACK; Pirates capture oil tanker in a daring ocean attack.(News) (The Mirror (London, England))

EUR100M HIJACK; Pirates capture oil tanker in a daring ocean attack.(News) (The Mirror (London, England))

Pirates open ransom talks; Supertanker forced to sail to Somalia.(News) (Evening Chronicle (Newcastle, England))

AT&T Gets 'Bold' with BlackBerry (Wireless News)

NAVY ADM. MULLEN SHOCKED BY PIRATE ATTACK ON SUPERTANKER (US Fed News Service, Including US State News)


Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »