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It's official: Sirius and XM have agreed to merge in a deal that will consolidate the only two companies in the business of subscription-only satellite radio. In a statement from both companies, it was announced that Sirius CEO Mel Karmazin will become chief executive of the new company while XM Chairman Gary Parsons will remain in that role. Under the agreement, the companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $13 billion, which includes net debt of approximately $1.6 billion. The companies have approximately 14 million combined subscribers and analysts predict the deal will save both companies approximately $7 billion annually. Wait a minute, isn't this going to create a monopoly? As reported on slashdot before, the FCC was going to shoot this down, but it looks as if it's getting pushed through anyways."