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XM Satellite Radio and Sirius Satellite Radio have agreed to merge. The deal, announced Monday, would consolidate the only two companies in the emerging business of subscription-only satellite radio, but it is sure to face tough scrutiny from federal regulators. The two companies said in a statement that Mel Karmazin, the CEO of Sirius, would become chief executive of the new company. Gary Parsons, the chairman of XM, would remain in that role.





