Approved Merger Sirius & XM by DOJ
The United State Justice Department permitted the merger between satellite radio companies XM and Sirius, more than a year after the 2 companies first declared their contract.
But for devotees of Howard Stern, Opie & Anthony and other XM and Sirius on the radio personalities, there are still a lot of queries about how much a joint Sirius-XM service will price and what series they’ll be able to hear. Plus, XM and Sirius face one more authoritarian hurdle before the contract can officially be finished.
Despite cries from a few politicians and traditional transmit companies calling the awaiting deal harmful to customers, determined the Department of Justice that an XM-Sirius combination was not anti-competitive. Argued the Justice Department that other media corporation such as Clear Channel (Fortune 500,CCU), CBS (CBS, Fortune 500), or even Apple (AAPL, Fortune 500) with its iPod music player and iTunes software served as alternate choices for music and media clients.
Lots of other considerations issued into the Justice Department’s conclusion, including data that optional the companies were not even aggressive with one another.
“Our data verifies that there was extremely little switching among companies after a being subscribes to an exacting service,” said junior Attorney General Thomas Barnett during a meeting call with journalists Monday afternoon.
Via: Money.cnn.com/