Feds approve satellite merger between Sirius and XM

By: The Associated Press
By: The Associated Press

It's now "done and one" when it comes to the satellite radio industry.

Federal regulators have formally approved the merger of the nation's only two satellite radio companies. The move means Sirius can complete its proposed buyout of rival XM Satellite. And it also means that Sirius and XM subscribers will be able to receive programming from both services.

The vote by the Feds ends a 16-month-long drama that had been closely watched by observers both in Washington and on Wall Street. Executives of the satellite companies say the merger will mean huge cost savings for the satellite radio industry.

But opponents of the merger believe the union of the only two companies in the industry will hurt consumers and is not in the public interest.

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