A merger between the two players in the US satellite radio market, Sirius and XM Radio, came a step closer to reality today when the U.S. Department of Justice (DoJ) informed the companies that it had ended its investigation into the pending deal without taking action to block the transaction. "Competition in the marketplace generally protects consumers and I have no reason to believe that this won't happen here," Justice Department antitrust chief, Thomas Barnett, told a conference call with reporters.
This decision means the DoJ has concluded that the merger is not anti-competitive and will allow the transaction to proceed. However, one more obstacle remains: the merger is still subject to approval of the Federal Communications Commission, which in 1997, issued an order forbidding either company from acquiring the other. A source at the FCC, however, said the organization could be strongly influenced by the Justice Department's decision, stating: "I think it would be hard to go in the complete opposite direction (from the Justice Department)."
Thanks for the tip, RangerLG!