Sirius XM Mulling 24-Hour Litigation Channel
More legal woes for Sirius XM. A federal judge has approved a class-action lawsuit alleging the satellite radio network violated antitrust laws following its 2008 merger with XM Satellite Holdings.
Filed in 2009, the complaint claims the union gave Sirius a monopoly in radio services, one which resulted in higher prices for consumers. Which is interesting, considering the Department of Justice’s comments on the merger when it first approved it.
“After a careful and thorough review of the proposed transaction, the Division concluded that the evidence does not demonstrate that the proposed merger of XM and Sirius is likely to substantially lessen competition, and that the transaction therefore is not likely to harm consumers.”
An unfortunate turn of events for Sirius, which is likely still reeling from the other high-profile lawsuit it was slapped with earlier this month.