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July 27, 2008

Sirius and XM merger approved by FCC

What the  monopoly merger will look like after the buy-out is still unclear, but with the final tie-breaking FCC vote in late Friday night, they are well on their way to one monolithic satellite radio offering for consumers. 

The companies talk about cost savings and more services for their subscribers.  Others had some doubts about this being in the consumers' best interests.

"The long-running regulatory review was watched closely by exasperated investors anxious for a resolution as well as satellite radio customers with questions about what impact the merger would have on their service.

The approval was a major blow for the land-based radio industry, which lobbied hard against the buyout. It was also opposed by consumer groups, various members of Congress and state attorneys general, all of whom argued a satellite radio merger would hurt consumers and was not in the public interest.

"They kept each other on their toes," Democratic commissioner Jonathan Adelstein said of the two companies. "I hope they keep their edge and don't become a fat and happy monopoly."" (quoted from CNN\Money.com)

Yep.  We'll see...

[MD]

July 27, 2008 | Permalink

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