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Satellites Collide as DoJ Approves XM-Sirius Merger
March 25, 2008
Satellite radio is making the biggest news early this week (seriously) as the Justice Department finally approved the long-awaited merger between XM and Sirius. The $5 billion dollar deal's not final by a long shot -- one enormous hurdle is FCC approval, which the Senate Antitrust Subcommittee is dead-set against, at least for now -- but Sirius CEO Mel Karmazin's getting closer to his prize. As a result of the announcement, XM stock climbed 15.5 percent on Monday while Sirius' jumped 8.6 percent. Howard Stern's a happy man.
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