XM receives antitrust clearance for $13 billion merger with SIRIUS
Client(s) XM Satellite Radio Holdings, Inc.
Jones Day obtained antitrust clearance after a lengthy investigation by the Department of Justice on behalf of XM Satellite Radio Holdings in connection with its $13 billion merger with SIRIUS Satellite Radio. XM and SIRIUS each provide satellite radio service in the U.S., in competition with terrestrial radio and various other technologies, and together have approximately 14 million subscribers. The merger will allow the companies to significantly reduce their costs and, by reducing duplicated programming, offer in one package a much broader collection of music, sports and information programming, thus making them a more effective competitor.