Sirius, XM struggle in anti-trust
December 14, 2007
Sirius and XM, are reported to be facing growing doubts over their ability to secure antitrust clearance for a $13 billion merger announ-ced in February.
Although a tough regulatory approval process was ex-pected for the deal, which unites the top two satellite radio providers, the companies and many investors were optimistic that antitrust enforcers at the US department of justice would clear it before the year-end.
Sirius and XM said: “As the companies have said from the outset, we expected to complete the processes at DoJ and the FCC so that the regulators could make their decisions and the merger could close by year-end. We have fully complied with the requests from both agencies. The ball is now in their court and we look forward to their determinations.”