XM - Sirius Merger Draws Nearer
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The XM shareholders have overwhelmingly approved the decision to merge with Sirius, making for one, and only one satellite music network.
Apparently the eyes on Wall Street lit up as well, as the stock price of XM surged with the news.
Is this what’s known as ’screwing the pooch’?
Both entities are spewing much drivel about the benefits to the consumer space with this blending of the satellite broadcast vendors. The benefits are apparently so easily seen, that no one bothers to enumerate said benefits.
The FCC and the Justice Dept have been accordingly swayed (bought?) to favor the merger, so it seems to be a foregone conclusion.
My question is “When was the last time lack of competition helped free enterprise in any way?”
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Tags: xm, sirius, satellite radio, merge, fcc, dept of justice, anti-competitive practices