Technology | Life on the Road - Trucking News Blog::
The primary factor in prolonging the review has been the fact that the FCC originally granted licenses to XM and Sirius on the condition the companies never
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The U.S. Justice Department on Monday approved the proposed $4.22 billion purchase of XM Satellite Radio (NASDAQ: XMSR) by Sirius Satellite Radio (NASDAQ: SIRI) after concluding a combined XM-Sirius would not harm consumers.
The deal still needs approval from the Federal Communications Commission, which is expected to follow the Justice Department's lead.
The deal, announced in February 2007, would combine the only two providers of satellite radio in the United States.
FCC officially approves XM, Sirius radio merger::
Jul 25, 2008 The long-running regulatory review was watched closely by exasperated only two satellite radio operators, XM and Sirius, on Friday.
http://www.azcentral.com/business/consumer/articles/2008/07/25/20080725biz-fccxmsirius25-ON.htmlHOME |
FCC approves XM-Sirius satellite radio merger | NewsOK.com::
The long-running regulatory review was watched closely by exasperated investors Sirius and XM also have promised to include a limited "a la carte"
http://newsok.com/fcc-approves-xm-sirius-satellite-radio-merger/article/3258000HOME |
"After a careful and thorough review of the proposed transaction, the [antitrust] division concluded the evidence does not demonstrate that the proposed merger of XM and Sirius is likely to substantially lessen competition, and that the transaction therefore is not likely to harm consumers," the department said in a statement.
STATEMENT OF DR. MARK N. COOPER DIRECTOR OF RESEARCH, CONSUMER ::
File Format: PDF/Adobe Acrobat - View as HTMLonly were XM and Sirius prohibited from merging as a condition of getting their licenses . and regulatory reviews has been rising prices and stagnation.
http://www.hearusnow.org/fileadmin/sitecontent/2007_-_0228_CU-FP-CFA_Testimony_On_Sirius-XM_Merger.pdfHOME |
The long-awaited decision sent shares of XM and Sirius sharply higher. Although they later pared their best gains, XM stock was up nearly 14 percent to $13.59, while Sirius shares were up 6 percent to $3.08, both on NASDAQ.
The traditional radio industry, consumer groups and some U.S. lawmakers had criticized the deal as anticompetitive, but the satellite radio companies argued that they faced competition from traditional radio and personal audio players.
Officials from Sirius and XM were not immediately available for comment.
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