« Tax rebate plan schedules announced- When you'll receive your check | Main | S&P/Case Shiller index and consumer confidence alarmingly weak »

Mar24
XM and Sirius finally get the ok from Department of Justice

Sirius Satellite Radio's proposed acquisition of XM Satellite Radio passed a major speedbump today with the Department of Justice giving it the ok. The Department of Justice finished its very thorough investigation and found that there is not evidence that the merger would substantially lessen competition or harm the consumer. This is not the only hurdle that this proposed deal had to clear. There still has been no word from the FCC, but most analysts believe that the Justice Department was the biggest threat to stopping the merger.xm%20and%20siri%20merger.jpg

XM (Nasdaq:XMSR) and Sirius (Nasdaq:SIRI) both saw their stocks surge today by 15.5% and 8.6% respectively as investors cheered this long awaited news. Many feel that if these two are able to team up it will make a very formidable company that can have a stranglehold on the still fast-growing satellite radio space.

What would this proposed merger mean for the overall market? This deal itself probably wouldn't mean a whole bunch to the market, but it is bigger than that. The fact that a major merger would go through would likely encourage other potential deals in the future. When major deals go through, other companies are watching and reading into the words of the Justice Department.

This was a case that the DOJ took an unprecedented amount of time to consider, so it seems unlikely that the FCC would find something different that would derail this merger. Satellite radio will likely have a different look to it in the coming years, and it looks like there will be one massive market leader in that area. While there will continue to be lots of debate on whether this merger should go through, it appears the major roadblock is slowly moving out of the way.

related entries


0 Comments/Trackbacks




submit a trackback

TrackBack URL for this entry:

post a comment

Name, Email Address, and URL are not required fields.





Comment Preview

« Tax rebate plan schedules announced- When you'll receive your check | Main | S&P/Case Shiller index and consumer confidence alarmingly weak »

Advertise

Related Resources

recent comments

    sponsored ads



    subscribe


    Prefer Email?
    Subscribe below-

    Enter your Email:


    Powered by FeedBlitz What's this?

    Current News

    Support This Blog

    blogroll


    business social media

    Use these fast growing business social media sites to promote your business, feature your products, spotlight your business leaders, create links, and drive traffic back to your company site, all for free!

    BIZZlogos - Add your logo - free link to your site
    BIZZphotos - Add photos of your products and people
    BIZZprofiles - Submit your profile and build your online visibility
    BIZZspotlight - Spotlight your business with free links
    BIZZvideos - Videos about businesses, products and business people.
    BIZZbites - "Digg" for Business - Submit your articles and posts

    Know More Media - Finance / Banking / Insurance

    know more media network

    View Network Map

    Network Feed List (OPML)

    Know More Media Network
    Feed


    we support unitus

    PRWeb

    Influencer



    GrowYourFunds is a member of the Know More Media network of business related blogs.

    Here are some current headlines from some of our business publications:

    ProductivityGoal

    CallCenterScript

    AdHurl

    TheBizofKnowledge

    LandingTheDeal

    CustomersAreAlways

    HealthCareVox

    BrainBasedBusiness

    TheInsurancePolicy

    MarketingBlurb