Justice Department Approves SIRIUS - XM Satellite Radio Merger

Earlier today the U.S. Department of Justice approved the proposed merger between the country's two Satellite Radio providers, SIRIUS and XM Radio.

According to a report at bloomberg.com: "Sirius Satellite Radio Inc.'s proposed $4.59 billion acquisition of XM Satellite Radio Holdings Inc. won U.S. antitrust clearance to create a single U.S. satellite-radio provider. Shares of both companies surged."

The merger deal now needs the official blessing of the Federal Communications Commission.

Background on the Satellite Radio Merger:
* A Satellite Radio Merger: the Good, the Bad, the Ugly
* Satellite Radio Merger: "Ludicrous" and "Selfish"
* XM and SIRIUS Satellite Radio Announce Merger Agreement