XM Satellite
Radio (Nasdaq: XMSR) and SIRIUS Satellite Radio (Nasdaq: SIRI) today
announced that the companies have agreed not to exercise their rights to
terminate the Merger Agreement until May 1, 2008.
The closing of the pending merger remains subject to satisfaction of
all applicable conditions, including approval from the Department of
Justice and the Federal Communications Commission.
SIRIUS
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of
the best programming in all of radio. SIRIUS is the original and only home
of 100% commercial free music channels in satellite radio, offering 69
music channels. SIRIUS also delivers 65 channels of sports, news, talk,
entertainment, traffic, weather and data. SIRIUS is the Official Satellite
Radio Partner of the NFL, NASCAR, NBA, and broadcasts live play-by-play
games of the NFL, NBA, as well as live NASCAR races. All SIRIUS programming
is available for a monthly subscription fee of only $12.95.
SIRIUS Internet Radio (SIR) is an Internet-only version of the SIRIUS
radio service, without the use of a radio, for the monthly subscription fee
of $12.95. SIR delivers more than 80 channels of talk, entertainment,
sports, and 100% commercial free music.
SIRIUS Backseat TV (TM) is the first ever live in-vehicle rear seat
entertainment featuring three channels of children's programming, including
Nickelodeon, Disney Channel and Cartoon Network, for the subscription fee
of $6.99 plus applicable audio subscription fee.
SIRIUS products for the car, truck, home, RV and boat are available at
shop.sirius.com and in more than 20,000 retail locations, including Best
Buy, Circuit City, Crutchfield, Target, Wal-Mart, Sam's Club and
RadioShack.
As of December 31, 2007, SIRIUS radios were available as a factory and
dealer-installed option in 116 vehicle models and as a dealer
only-installed option in 37 vehicle models.
SIRIUS has agreements with Aston Martin, Audi, Bentley, BMW, Chrysler,
Dodge, Ford, Jaguar, Jeep, Kia, Land Rover, Lincoln, Maybach, Mazda,
Mercedes- Benz, Mercury, MINI, Mitsubishi, Rolls-Royce, Volvo, and
Volkswagen to offer SIRIUS radios as factory or dealer-installed equipment
in their vehicles. SIRIUS has relationships with Toyota and Scion to offer
SIRIUS radios as dealer-installed equipment, and a relationship with Subaru
to offer SIRIUS radios as factory or dealer-installed equipment. SIRIUS
radios are also offered to renters of Hertz vehicles at airport locations
nationwide.
XM
XM (Nasdaq: XMSR) is America's number one satellite radio company with
more than 9 million subscribers. Broadcasting live daily from studios in
Washington, DC, New York City, Chicago, Nashville, Toronto and Montreal,
XM's 2008 lineup includes more than 170 digital channels of choice from
coast to coast: commercial-free music, premier sports, news, talk radio,
comedy, children's and entertainment programming; and the most advanced
traffic and weather information.
XM, the leader in satellite-delivered entertainment and data services
for the automobile market through partnerships with General Motors, Honda,
Hyundai, Nissan, Porsche, Subaru, Suzuki and Toyota is available in 140
different vehicle models for 2008. XM's industry-leading products are
available at consumer electronics retailers nationwide. XM programming is
also available through XM Radio Online; as downloads of original XM shows
via podcasts from XM's Web site or the Apple's iTunes Store; and as streams
of commercial-free XM music channels to AT&T and Alltel wireless customers
through XM Radio Mobile.
Source: XM
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