Sirius XM Satellite Radio Merger News
Satellite radio companies Sirius and XM, announced a merger just over year ago. Their goal in consolidation was to create a satellite radio product that brings together the best of both companies. Last Monday the Department of Justice approved the merger, marking a near final step in the two groups combining.
Howard Stern, Opie & Anthony and other Sirius and XM on-air personalities are still getting questions from thier fans about how much the merger will affect the cost of their programming. Currently, both services are offered for $12.95 per month, but it is too soon to tell if these rates will take a hike. Plus, Sirius and XM face one more regulatory hurdle before the deal can officially be completed. The FCC (Federal Communications Commission) still must approve the merger, and that might come with certain conditions. They could bring down the hammer on controversial programming or music as this is what Sirius and XM have used to make them famous versus listening to normal mickey mouse radio.
CNN Money and Fortune had lengthy discussion about this lastest step in the merger deal. Overall, Wall Street was excited that the merger is finally coming closer to being consummated. Shares of XM (XMSR) jumped 15.5% Monday while shares of Sirius (SIRI) rose 8.6%.
