It's about time! The Sirius / XM merger has finally been approved by the
feds.
NEW YORK (
CNNMoney.com) -- The U.S. Justice Department approved the merger
between satellite radio companies Sirius and XM Monday, more than a year
after the two companies first announced their deal.
But for fans of Howard Stern, Opie & Anthony and other Sirius and XM on-air
personalities, there are still many questions about how much a combined
Sirius-XM service will cost and what programs they'll be able to hear. Plus,
Sirius and XM face one more regulatory hurdle before the deal can officially
be completed.
Justice Department says merger won't hurt consumers
Despite cries from some politicians and traditional broadcast companies
calling the pending deal harmful to consumers, the Department of Justice
determined that an XM-Sirius merger was not anti-competitive. The Justice
Department argued that other media companies such as Clear Channel (CCU,
Fortune 500), CBS (CBS, Fortune 500), or even Apple (AAPL, Fortune 500) with
its iTunes software and iPod music player served as alternate options for
music and media customers.