XM-Sirius merger approved

March 24, 2008 Sirius Satellite Radio's $5 billion buyout of rival XM Satellite Radio got the Justice Department's green light Monday as government lawyers found that the combined company competes against a broad universe of electronic entertainment. "The likely evolution of technology in the future, including the expected introduction in the next several years of mobile broadband Internet devices, made it even more unlikely that the transaction would harm consumers in the longer term," the Justice Department said. Justice Department officials brushed aside arguments by consumer groups and traditional radio broadcasters who mounted an intense campaign to block the deal.

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