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Link to the Bloomberg News story
Yahoo! News is telling us that "Sirius Satellite Radio plans to buy U.S. rival XM Satellite Radio for $4.6 billion in stock..." The story is here.
Why they're calling it a merger when it's really a buyout, I don't know. But if Sirius are running the show, most of their stations & programming will likely survive.
XM - programming for real music fans.
Sirius - programming for your 15 year old cousin that thinks the Black Eyed Peas are the voice of a generation.