Justice Dept. approves XM-Sirius radio deal

March 24, 2008 12:16:06 PM PDT
The Justice Department has approved Sirius Satellite Radio's lion buyout of rival XM Satellite Radio.

The merger was approved despite opposition from consumer groups and an intense lobbying campaign by the land-based radio industry.

Regulators said the merger is not likely to substantially hurt competition or consumers .

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