Earlier today, there were rumors regarding a possible merger between satellite radio giants XM Radio and Sirius. Now, reports have come through that the merger is official – and an official press conference is scheduled for tomorrow.
Is this crazy news or what? Both XM and Sirius have spoken of a possible merger for what seems like years. Due to regulatory hurdles, the deal was never even attempted. Now, it looks like they may have found a loophole in the law, and they’re making the plunge. I personally think that the FCC will never let this happen. If so, this would indeed create a monopoly in the satellite radio industry.
Looks like we’ll have to wait until tomorrow to get the full scoop, so stay tuned.
Press Release [XM] Via [Gizmodo]
I'd be curious to see how the government responses to this. How this isn't an antitrust issue is beyond me.
<a href="http://www.thumbwarz.com" rel="nofollow">big fan of the merger!
even though XM was way better hehe