After more than a year in the making, the XM and Sirius Satellite Radio merger is finally just one step away from being a done deal. Earlier this month Sirius Satellite CEO Mel Karmazin speculated that the deal could be finalized by the end of March, and it looks as though his prediction will come to fruition.
The merger — which was originally penned in February 2007 — was approved by shareholders in November of last year but stalled as the Department of Justice reviewed the terms of the deal. After months of deliberation, the DOJ ruled that the merge would not harm the public because it considers other forms of radio — such as HD and terrestrial — competing forms of entertainment. In fact, the DOJ feels the merger will actually benefit consumers as it should extend programming and reduce overall costs.
The last obstacle in the way of the merger is a final approval from the FCC. While it is expected that the FCC will give the merger the green light fairly quickly, the FCC does have a history of dragging its feet.
03/24, 5:20 PM
posted by:
jjayc08
Sorry, but I just sharted.
03/24, 5:35 PM
posted by:
jackjimturkey
I get savage on AM
03/24, 7:08 PM
posted by:
zoomzoomr
It’s about time. Monopolistic oil, bank and telecom mergers are approved more quickly than this relatively small one – despite the fact Satellite radio is essentially a luxury product, not a necessity as those above.
03/24, 8:12 PM
posted by:
A4
XM sucks
03/24, 9:48 PM
posted by:
400horseSS
Sweet i wonder how much my $3 sirius shares will jump to.
03/25, 8:59 AM
posted by:
mars_Smiley
I love xm, so the more the merrier. And its not as much of a luxury item as you think it is. I got mine free when i bought the car which is why i have it, and i realized that its amazing.
03/25, 12:15 PM
posted by:
jackjimturkey
My XM came with the car, but I’ve listened to it altogether for less than an hour, I’d guess.
03/25, 1:25 PM
posted by:
DeansterTJ
Wow, what incredible car news. My gooch is tingling.
03/25, 2:09 PM
posted by:
Scarface03
My XM came with my car too. I actually dug it enough to subscribe after the trial was over. My wife has XM too in her car.
The only thing is, I recently looked into downsizing my car and the cars I was looking at were compatible with Sirius. It would have been a pain to pay for two full-price satellite radio subscriptions, instead of having a discounted second radio.