XM and Sirius to Merge

Satellite radio competitors XM and Sirius are planning to merge into one company.
This still has to be approved by the FCC and faces government regulatory approval. That it would form essentially a monopoly on subscription satellite radio is one concern.
But is it any different than ClearChannel owning 1200 stations nationwide, creating essentially a monopoly in many markets? The fact that now practically all sources of media are owned by just a handful of companies is very concerning.