Sirius Satellite Radio Inc. (SIRI) Shareholders Approve XM Satellite Radio Holdings Inc. (XMSR) Deal
Shareholders approved a deal Tuesday to allow Sirius Satellite Radio Inc. to acquire its rival XM Satellite Radio Holdings Inc. for about $5 billion, but the largest hurdle has yet to come regulatory approval in Washington.
Shareholders of Sirius and XM had been widely expected to approve the deal, which would allow the companies to save costs on programming, acquiring subscribers and broadcasting. Shareholder advisory firms had already endorsed the deal.
More difficult will be getting the deal approved in Washington, where the Department of Justice and the Federal Communications Commission must both give their blessing. Several consumer groups have opposed the combination, saying it would create a monopoly that could hurt consumers.
Shareholders of Sirius and XM had been widely expected to approve the deal, which would allow the companies to save costs on programming, acquiring subscribers and broadcasting. Shareholder advisory firms had already endorsed the deal.
More difficult will be getting the deal approved in Washington, where the Department of Justice and the Federal Communications Commission must both give their blessing. Several consumer groups have opposed the combination, saying it would create a monopoly that could hurt consumers.
Labels: SIRI, Sirius Satellite Radio Inc., XM Satellite Radio Holdings Inc., XMSR
posted by Stock Administrator @ 3:50 PM
0 Comments:
Post a Comment
<< Home