Satellie Radio
Monday, March 24, 2008
WASHINGTON (AP) - The Justice Department approved Sirius Satellite Radio's $5 billion buyout of rival XM Satellite Radio on Monday, saying the deal was unlikely to hurt competition or consumers.
The deal was approved despite opposition from consumer groups and an intense lobbying campaign by the land-based radio industry.
The buyout received shareholder approval in November. The companies said the merger will save hundreds of millions of dollars in operating costs—savings that will ultimately benefit their customers.
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We are one step closer to an ala carte satellite radio subscription service. Back when this was announced, both Sirius and XM said they would be willing to allow users to select up to 50 stations for $7 a month. Although it wasn't my magical $5 price point I feel most things should be, I might be willing to sign up for this. Lets hope to they don't back down because I have been patiently waiting for this day. In reality it may not be until late this year which is fine since my new car might not happen until fall or even next year.
Posted by mardenhill 3/24/2008 04:19:00 PM
Labels: Music, Technology
