XM Merges With Sirius

Earlier today, the Justice Department approved Sirius Satellite Radio's proposed $4.59 billion (!) aquisition of satellite old-schooler XM Satellite Radio.

This decision created one single US satellite radio provider.

In response to questions fearing a monopoly, the Justice Dept. said " the combined company won't be able to raise prices profitably because of competition from such forms of audio entertainment as broadcast radio and MP3 players."

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