The Department of Justice, apparently eschewing its own name, approved the merger of XM and Sirius the other day. Apparently it matters not a whit that the company will present a monopoly which will lord an unfair advantage over terrestrial (local over-the-air) radio in every market across the nation. It's all about politics and money; about repaying favors. The Department of Justice, just like the FCC (and the current White House administration for that matter), is no more than a shill for big business. Disgusting.
On the lighter side of the news, the Wall Street Journal is reporting that the buyout of Clear Channel is on the brink of collapse. And I say, "Bravo!" Clear Channel has been fucking consumers for years so they thought it'd be just as easy to fuck investment groups like Thomas H. Lee and Bain Capital Partners. What they weren't counting on was the immense approval delay which gave the financing banks time to stop and think, Just what the hell are we doing here?
Clear Channel has spent decades ruining the radio industry. It's no surprise they're trying to make millions on a bailout which is only necessary because of their own rape-and-pillage business model. They've made their bed and now they should be made to sleep in it.
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