SIRIUS and XM merger approved
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SIRIUS and XM merger approved

The Justice Department has approved a five billion dollar take over of XM Satellite Radio by rival SIRIUS. The merger was approved despite opposition from consumer groups and an intense lobbying campaign by the american radio industry.

Regulators said the merger is not likely to substantially hurt competition or consumers.

However, the Federal Communications Commission must also approve the deal before it can officially be completed.

The merger was first announced over 12 months ago, and would see america's only two satellite radio operators have total control of the market. The merged company would have 14 million subscribers.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 3 352 24 March, 2008 Industry News 7:24 pm 20083 Monday, March 24th, 2008

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