News Articles From Days Gone ByThose concerned with those nasty monthly fees charged by Sirius and XM can at least find some encouragement in the latest pricing for receivers.
(27 June 2003)
With the introduction of Sirius plug-and-play units by Audiovox and Kenwood, XM and Delphi apparently decided they had no choice but to follow suit. The recent introduction of a $30 rebate brings the price of the successful SKYFi down to $99, in line with the new Sirius offerings. As in all other businesses, competition generally forces prices down. Pioneer exemplified this behavior with its decision to stop shipment of its new GEX-FM913XM unit, which proved not to be competitive with the more reasonably priced $49 Jensen FM modulator. Said Pioneer veep Michael Townsen "We felt our replacement model would not be competitive in the current market environment with a lot of consumer rebates and discounts being driven primarily bu Sirius." Now if only they could do something about those monthly fees.
More people are getting Sirius than ever before as the satellite broadcaster tops 100,000 subscribers.
(24 June 2003)
As of the close of business on 20 June, Sirius Satellite Radio reported 100,233 listeners. Said Sirius boss Joe Clayton "This is an important milestone for Sirius, which underscores the growing interest in our service as the premium provider of nationwide satellite radio entertainment."
Jay Clark, a radio industry veteran and Sirius veep, has been appointed Executive Vice President, Programming.
(24 June 2003)
Prior to getting Sirius Clark worked for Infinity, ABC, Greater Media, and Entercom. He's been associated with the development of programming for WRKO-AM/Boston, WABC/New York, and KLSX/Los Angeles.
Sirius has a new Chief Information Officer.
(20 June 2003)
He is William C. Pratt, who has previously worked with information technology at a number of firms including McGraw-Hill and At&T. Sirius boss Joe Clayton noted "Bill Pratt will be a valuable asset to Sirius, as we continue to grow our business and look to other forms of data communications over our technology infrastructure." Pratt had previously served as Senior Vice President and Chief Information Officer at McGraw-Hill Education.
European satellite radio continues to show potential despite the recent bankruptcy of Global Radio.
(18 June 2003)
The torch is apparently being passed to WorldSpace and Alcatel. Said WorldSpace CEO Noah Samara "A lot of Europeans speak more than one language. In that kind of market, to be able to have radio at all times that you can listen to in the language of your choice, in your car or anywhere for that matter, will be a service that will be immensely valuable." His comments appeared in the most recent issue of Interspace .
Think satellite radio is just a passing fad?
(17 June 2003)
Think again! SkyWaves Research Report projects that there will be as many as 48 million subscribers by 2012. The study employs a proprietary forecast model including subscriber projections for XM and Sirius by quarter. A conservative growth scenario estimates that the two satellite broadcasters should expect to have no fewer than 29.7 million listeners by 2012.
Sirius NASCAR fans might be interested in knowing that the Sirius Satellite Radio 400 was won this year by Kurt Busch.
(16 June 2003)
He was followed at the finish line by Bobby Labonte and Jeff Gordon.
Just to show that it's possible to get high quality radio without satellites, or monthly fees, iBiquity is signing up broadcasters across the United States to use its digital technology.
(16 June 2003)
As reported by Paul Bond in The Hollywood Reporter , more than 150 stations are going digital.
XM is getting into a capital raising mode as it announces the issuance of $175 million of 12% Senior Secured Notes due 2010.
(13 June 2003)
The closing is expected to occur on Tuesday, 17 July.
Sirius water sports enthusiasts will be pleased to know that boatmaker Genmar is putting on "The Dog" for its 16 brands.
(13 June 2003)
Each boat is to be equipped with a watertight Clairon Marine AM/FM/CD/Sirius head unit featuring a direct digital interface to a Clarion Marine Sirius tuner. Genmar's Carver Yachts and its fiberglass Four Winns are also going to include a Sirius system. Each installation comes with one year of Sirius service. Commented Genmar CEO Irwin Jacobs "Owners of our premium boats appreciate quality, and they deserve the premium service that Sirius provides."
As it continues to get its financial house in order, Sirius has appointed David J.
(12 June 2003)
Frear as Executive Vice President and Chief Financial Officer. The new CFO is expected to report directly to Sirius boss Joe Clayton who said "David is the experienced CFO that we need at Sirius as we continue to grow the business. His considerable knowledge of public company financial operations, combined with his solid reputation within the financial community, will be of great benefit to Sirius, and we look forward to having him join our team." Frear comes from Savvis Communications where he served as CFO. He has an MBA fro the University of Michigan.
Ever mindful of the need to promote satellite radio Sirius, continues the tradition of the Sirius Satellite Radio 400 NASCAR race this Sunday.
(12 June 2003)
It's being held at the Michigan International Speedway in Brooklyn, Michigan. It'sON FOX at 12:30 p.m. EST.
Sirius is giving Dads a cheap thrill this Fathers' Day Weekend by broadcasting the Bonnaroo Music Festival live from Manchester, Tennessee.
(11 June 2003)
Included in the lineup are The Dead, James Brown, Widespread Panic, Emmylou Harris, The Allman Brothers Band, Ben Harper, Neil Young, and Bela Fleck. It's on Jam Central, stream 17, and hosted by Stef Scamardo, Jonathan Schwartz, and Adam Foley.
Yesterday Sirius announced the closure of its recently announced common stock offering.
(11 June 2003)
Underwriters Morgan Stanley and UBS Warburg exercised their option to purchase 11.25 million shares above the original allotment of 75 million. The total sale of 86.25 million shares netted Sirius a net proceeds of about $146 million.
In a recently published interview with the Carmel Group's Jimmy Schaeffler representatives of XM and Sirius offered their views of the apparent financial gains being accrued by both companies.
(10 June 2003)
XM was represented by Greg Cole, Vice President and Treasurer. Sirius sent Vice President of Communications Jim Collins and Director of Investor Relations Cheryl Cramer. The issue of hardware costs and installation was discussed. XM subsidizes hardware at the manufacturing level. Sirius spreads the costs among chipset and hardware manufacturers, retail partners, and original equipment manufacturers. To provide incentives to encourage consumers to purchase its product, XM maintains a "very reasonable price." Sirius offers "spiffs" (incentives to retailers) in proportion to the number of units sold. Both companies believe the future of the industry is bright. XM claims that the potential may be as high as 50 million automobile installations. Sirius says it needs two million subscribers to break even, a number they think they'll achieve in 2005.
Last Wednesday, 4 June 2003, Sirius said that New York's Blackstone Group considered distributing 57 million Sirius common stock shares to limited partners of the firm's investment funds.
(9 June 2003)
Blackstone had invested $200 million in Sirius in 2000 and committed an additional $25 million earlier this year as part of an out-of-court restructuring.
Sirius announced that Michael J.
(9 June 2003)
McGuiness has been elected to its Board of Directors. McGuiness, 39, holds a degree in Electrical Engineering from Rutgers and an MBA from NYU. He replaces Joseph Vittoria, 67, who had served on the Sirius board since 1998.
In an attempt to capitalize on the recent increase in listenership and higher expectations, Sirius announced a proposal to sell 75 million shares of common stock under as yet to be determined conditions.
(5 June 2003)
The market responded by promptly selling off Sirius stock until the security had declined by almost 12 percent.
It has been reported that in an apparent attempt to copy the Academy Awards the MTV movie awards program is giving its presenters complimentary satellite radios.
(3 June 2003)
It's fair to assume that the units in question are XM SKYFis.
Buoyed by its apparent success and the need for a quick infusion of cash XM announced its intention to sell $125 million of Senior Secured Notes.
(3 June 2003)
The notes are due 2010 and are for institutional buyers. The interest rate and offering price are to be determined by negotiations between XM and the initial purchasers.