It's Only a Little Consolidation...Right?

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From the WashPost:

District-based XM Satellite Radio Holdings Inc. and New York-based Sirius Satellite Radio Inc., which together control the emerging satellite subscription radio market, today announced that they plan to merge in a $13 billion deal.

Mel Karmazin, the chief executive of Sirius, would become chief executive of the new company, and Gary Parsons, the chairman of XM, would become chairman, the companies said. They also said they would retain operations both in New York, where Sirius rents space, and in Washington, where XM owns a building.

Such a merger would face significant regulatory scrutiny and questions about whether a monopoly was being created and would take months to complete. The companies hope to complete the merger by the end of the year.

The companies were virtually identical, so this merger isn't far-fetched. On the other hand, I don't recall there being much competition in the satellite radio market.

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