XM, Sirius Say Post-Merger Prices Will Fall

In an attempt to lower resistance to their proposed merger, satellite radio providers Sirius and XM unveiled new pricing plans today that they say will cut subscription prices by 46%. The plans, which start at $6.99 as opposed to the current $12.95 per month standard price, also allow listeners to select channels to add a la carte.

Sirius and XM proposed the new plans in hopes of allaying concerns that their merger will lead to price hikes, Dow Jones reports. Traditional radio companies oppose the merger, which still must gain approval from the FCC and the Justice Department's antitrust division. The companies aim to complete their deal later this year. (More mergers and acquisitions stories.)