Satellite Radio Merger Moves Forward

The Justice Department on Monday approved Sirius Satellite Radio Inc.'s proposed $5 billion buyout of rival XM Satellite Radio Holdings Inc., saying the deal was unlikely to lessen competition or harm consumers. The transaction was approved without conditions, despite opposition from consumer groups and an intense lobbying campaign by the land-based radio industry. The merger still requires approval from the Federal Communications Commission, which prohibited the combination when it first granted satellite radio operating licenses in 1997. Guest host Ted Chen talks with Jeffrey Yorke, Washington Bureau Chief and Business Editor for Radio and Records.

The Justice Department on Monday approved Sirius Satellite Radio Inc.'s proposed $5 billion buyout of rival XM Satellite Radio Holdings Inc., saying the deal was unlikely to lessen competition or harm consumers. The transaction was approved without conditions, despite opposition from consumer groups and an intense lobbying campaign by the land-based radio industry. The merger still requires approval from the Federal Communications Commission, which prohibited the combination when it first granted satellite radio operating licenses in 1997. Guest host Ted Chen talks with Jeffrey Yorke, Washington Bureau Chief and Business Editor for Radio and Records.