XM-Sirius deal gets antitrust approval

U.S. Justice Department has announced that they have now given their approval for the purchase of XM Satellite Radio by rival company Sirius Satellite Radio.

The deal is worth around $4.22 and the authorities said that they believe that the combined entity would not be a disadvantage for their customers.

The two companies however still require the approval from the Federal Communications Commission.

U.S. Justice Department spoke about their approval: “After a careful and thorough review of the proposed transaction, the division concluded the evidence does not demonstrate that the proposed merger of XM and Sirius is likely to substantially lessen competition, and that the transaction therefore is not likely to harm consumers.”

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