Wednesday, July 30th, 2008 at 5:29 am
Yesterday, the deal was sealed on the merger between the two biggest satellite radio stations in the US. With a 3-2 vote in favor for XM and Sirrus joining together, it is indicated that a merge of this kind will save the new company close to $400 million. The good side to this for consumers is that not only will they secure access to the various shows each radio station boasts, but the deal also came with a three year price cap, meaning that prices for the service can’t be increased until 2011.
The new company however will be fined $20 million straight away for not creating and marketing a receiver that is capable of receiving signals from both stations before the merger, which has been on the cards since early 2007, came into effect.