XM-Sirius merger approved by DOJ

The U.S. Department of Justice (DoJ) cleared the merger of Sirius Satellite Radio and XM Satellite Radio. Further approval by the Federal Communications Commission (FCC) is now likely to follow suit, said analysts, which would give a green light to the long-awaited merger valued at $5 billion.
“It’s very rare that the FCC would have a contradictory ruling,” said RBC Capital Markets analyst David Bank. He said approval could be in “days or the next quarter. My sense is the FCC is going to move relatively quickly.” It is also possible the FCC could place stipulations on the deal, including that the companies be required to rent out a slice of spectrum to other parties, he noted.

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