Sirius-XM merger gets go-ahead

Regulators have given the green light to the merger of the only two satellite radio operators in the US, Sirius Satellite Radio’s buyout of XM Satellite Radio Holdings has been given the go-ahead.
The move means over 18 million subscribers will be able to receive programming from both services. The buyout’s cost was about $3.5 billion. Executives say it will mean huge cost savings that will lead to the first profits for the relatively nascent industry.
The Federal Communications Commission voted 3 to 2 to approve the buyout. The winning vote came when the companies agreed to pay $19.7 million to the federal Treasury to settle F.C.C. rule violations.

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