SIRIUS approves XM deal
The shareholders of American satellite radio service Sirius have approved the company's five billion dollar acquisition of rival XM Satellite Radio. The next hurdle will be gaining the backing of the Department of Justice and the FCC.
Sirius said in a statement that more than 96 per cent of shareholders cast approved for the acquisition. XM shareholders are also voting on the deal, which some consumer groups are opposing saying the merger will lead to a lack of choice.
The deal is expected to be cleared by the end of the year.