XM/Sirius Merger To Be Finalized
Washington (DC) - After months of government probing and questions of antitrust violations, the merger between the two satellite radio services may be coming to a close, according to a news report.
The $4.6 billion deal was first announced last February. However, the companies cannot merge until they receive regulatory approval. Because there are no other satellite radio providers, some have suggested that pulling them together would create a monopoly.
Wall Street analyst site Briefing.com has quoted an unnamed source as saying that the deal may be finalized before the end of the month.
XM and Sirius have contended that standard AM/FM radio is still a viable competition, as are other portable media devices. The merger is widely expected to go through without regulatory hurdles, but the mandatory review process has taken several months.
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