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XM-Sirius deal approved
The Justice Department approved the merger of two major satellite radio companies. The department concluded that the deal is unlikely to hurt competition or consumers. Sirius Satellite Radio wants to buy XM Satellite Radio for around $5 billion. The deal still needs approval from the Federal Communications Commission. When the FCC first provided satellite radio operating licenses more than a decade ago, it said it would stand in the way of mergers between two competing companies.
Posted on March 25, 2008 6:40 AM PT | Permalink
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