Sirius completes acquisition of XM Satellite Radio

Sirius Satellite Radio said on Tuesday it completed the purchase of rival XM Satellite Radio Holding Inc, forming a broadcasting company that competes with traditional radio as well as digital audio players like iPods. The completion comes after a marathon period of government scrutiny that ended late last week when the U.S. Federal Communications Commission approved the deal, which was first announced 17 months ago. The new company will be named Sirius XM Radio and will have more than 18.5 million subscribers, making it the second-largest radio business in the United States.