DOJ Approves Merger Of XM & Sirius Radio

     WASHINGTON (CN) – The Justice Department on Monday approved the $5 billion merger of XM and Sirius radio networks, allowing a monopoly in the satellite radio business. The merger still must be approved by the Federal Communications Commission. The Justice Department said it approved the deal because it had determined that a merger was not likely to restrict competition or raise prices for the subscription service, as merger opponents claim.

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