XM and Sirius settle $19 million radio violation

XM and Sirius satellite radio are the only two competitors in their industry. However, in 2007 they filed for a merger that would create a monopoly for satellite radio. The justice department approved the merger claming that there would be enough competition from conventional radio, mp3 players, and ipods to stop the joint company from skyrocketing prices. On the other hand, the FCC has been more difficult to convince. When they originally wrote the contracts for the wave licenses, they were to be kept separate. The two companies are willing however to work with the government, and obey certain rules such as keeping prices static for three years.