Sirius has said that it has finished its purchase of its rival XM Satellite Radio to form a new company that competes with traditional FM radio and digital audio players like the iPod – after the FCC approved the deal, which was announced in February last year.

The new company will now be known as Sirius XM Radio, and will have a total of 18.5 million subscribers; and will now boast its combined roster of exclusive programming – like Howard Stern, Oprah Winfrey and exclusive sports broadcasts, news and music.

Its corporate headquarters will be in New York, while XM Satellite will remain in Washington.