Dept. of Justice OKs XM-Sirius Merger
03-24-2008, 02:41 PM
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Dept. of Justice OKs XM-Sirius Merger
http://money.cnn.com/2008/03/24/news...ion=2008032415
NEW YORK (CNNMoney.com) -- The U.S. Justice Department approved the merger between satellite radio companies Sirius and XM Monday, more than a year after the two companies first announced their deal.
In its decision, the Department of Justice had to determine whether an XM-Sirius merger was anti-competitive, or if other media companies such as Clear Channel (CCU, Fortune 500), CBS (CBS, Fortune 500), or even Apple (AAPL, Fortune 500) with its iTunes software and iPod music player served as alternate options for music and media customers.
The Federal Communications Commission must also approve the deal before it can officially be completed. The FCC has yet to make a decision on the deal.
The merger would combine the nation's only two satellite radio companies and create a company with about 14 million subscribers. It would bring together Sirius' most well-known content, including Howard Stern and National Football League games with XM's Major League Baseball as well programming from Oprah Winfrey.
Shares of XM (XMSR) and Sirius (SIRI) both rose after the announcement.
In its decision, the Department of Justice had to determine whether an XM-Sirius merger was anti-competitive, or if other media companies such as Clear Channel (CCU, Fortune 500), CBS (CBS, Fortune 500), or even Apple (AAPL, Fortune 500) with its iTunes software and iPod music player served as alternate options for music and media customers.
The Federal Communications Commission must also approve the deal before it can officially be completed. The FCC has yet to make a decision on the deal.
The merger would combine the nation's only two satellite radio companies and create a company with about 14 million subscribers. It would bring together Sirius' most well-known content, including Howard Stern and National Football League games with XM's Major League Baseball as well programming from Oprah Winfrey.
Shares of XM (XMSR) and Sirius (SIRI) both rose after the announcement.
03-24-2008, 03:17 PM
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I would imagine it shouldn't affect the channel line-up. In fact, we should be getting more selections but the only thing is I don't know about the monthly/annual subscription price?? (More channels, More money) i'm guessing here.
03-24-2008, 03:23 PM
#4
for EVER more!
The proponents (CEOs) involved affirm a new buying system which allow each to subscribe to the other service's channels on a package or a la carte options - your bill would be as big as your appetite for content. (I am dying for cable to get to this model) Single men like me should not have to pay for Oxygen, Lifetime, or their crappy movie networks when i have never watched a single second of them. (Seriously, I really haven't - I promise)
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