DOJ CLEARS XM-SIRIUS MERGER
Washington – The Department of Justice Antitrust Division decided to close its investigation into the merger between XM Satellite and Sirius Satellite Radio stating, “Evidence does not establish that combination of Satellite Radio providers would substantially reduce competition.”
The statement issued by the DOJ went on to say; “After a careful and thorough review of the proposed transaction, the Division concluded that the evidence does not demonstrate that the proposed merger of XM and Sirius is likely to substantially lessen competition, and that the transaction therefore is not likely to harm consumers. The Division reached this conclusion because the evidence did not show that the merger would enable the parties to profitably increase prices to satellite radio customers for several reasons, including: a lack of competition between the parties in important segments even without the merger; the competitive alternative services available to consumers; technological change that is expected to make those alternatives increasingly attractive over time; and efficiencies likely to flow from the transaction that could benefit consumers.”
To read the full Department of Justice Statement: CLICK HERE
The statement issued by the DOJ went on to say; “After a careful and thorough review of the proposed transaction, the Division concluded that the evidence does not demonstrate that the proposed merger of XM and Sirius is likely to substantially lessen competition, and that the transaction therefore is not likely to harm consumers. The Division reached this conclusion because the evidence did not show that the merger would enable the parties to profitably increase prices to satellite radio customers for several reasons, including: a lack of competition between the parties in important segments even without the merger; the competitive alternative services available to consumers; technological change that is expected to make those alternatives increasingly attractive over time; and efficiencies likely to flow from the transaction that could benefit consumers.”
To read the full Department of Justice Statement: CLICK HERE
posted by TMC NEWS at 3:23 PM
2 Comments:
i guess that means my monthly fee will now go up. :(
Amazing what a corrupt organization the FCC is. Instead of regulating the airwaves they are beholden to the very companies they are supposed to regulate. I'm sure these media giants contributed some nice stuff to Powell. What a shame. Merging the two largest giants is such a bad idea and an out right monopoly. And forget diversity in programming or a fair price. Now you'll pay what they say or not have it. FCC shame.
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