FCC approves XM-Sirius satellite radio merger

The FCC has finally approved the XM-Sirius satellite radio merger. Both companies are sponsors and involved in racing, XM with the IRL and Sirius with NASCAR.

Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc. will mean millions of subscribers will be able to receive programming from both services, while executives say it will create huge cost savings for the industry.

Federal regulators formally approved the merger of the nation's only two satellite radio operators Friday.

"I think it's going to be, in the end, a good thing for consumers and be in the public interest," Federal Communications Commission Chairman Kevin Martin told The Associated Press. "Consumers will enjoy a variety of programming at reduced prices and more diversified programming choices."

Subscribers will not have to buy new radios to receive a mix of programming from both services, according to the companies. But if they want to pursue a special pay-per-channel a la carte option, they will need new sets.