Sirius + XM = The end of an era

Fluff O' Meter - 1 out of 5
Winners - Greed, monopolies, Mel Karmazin
Losers - Satellite radio customers, XM employees, fair trade

Sirius Satellite Radio's $4.59 billion purchase of rival XM Satellite Radio was given antitrust clearance on Monday as the Justice Department concluded consumers have many alternatives, including mobile phones and personal audio players.

Investors sent shares of both companies sharply higher even though the Federal Communications Commission must still approve the combination of the only two U.S. providers of satellite radio, a deal first announced in February 2007.

Yahoo! story link


Newz Cycle Foxworthy's "You Might Work for a Monopoly" Joke Book

1. If you quit or get fired from a job and the company has no competitors you can apply to. You might work for a monopoly.

2. If you quit or get fired from a company and the same exact parent company owns every other company that you're qualified to work for. You might work for a monopoly.

The end result: There is no more clearer example of a monopoly than the merger of Sirius and XM.

The Bigger Question: This merger has been stalled for months. How did it miraculously get appoved?