The proposed merger between XM and Sirius, the two top US satellite radio companies, was approved Monday by antitrust authorities who said the deal would not lessen competition and was unlikely to harm consumers. The decision by the Department of Justice removes a key hurdle for the $4.6bn merger, which has been in regulatory limbo since it was agreed more than a year ago, although it still needs approval from the communications regulator. The ruling also provides fodder for critics of the Bush administration’s antitrust policies, who say the transaction will create a radio monopoly. DealJournal says Sirius CEO Mel Karmazin, who finally let his frustration fly this month, has found his initial optimism well-rewarded.

This entry was posted by Gwen Robinson on Tuesday, March 25th, 2008 at 5:49 and is filed under M&A, People. Tagged with sirius, XM. Edit this entry.