WASHINGTON, April 29 /PRNewswire-FirstCall/ -- XM Satellite Radio (NASDAQ: XMSR) today announced that it has postponed its 2008 annual meeting of stockholders. The company will announce a new date for the meeting when it has further information relating to the timing of its pending merger with SIRIUS Satellite Radio. The 2008 annual meeting of stockholders had been scheduled for Friday, May 23, 2008.
On March 24, 2008, the U.S. Department of Justice informed XM and SIRIUS that it ended its investigation into the pending merger, having concluded that the merger is not anti-competitive, and that it will allow the transaction to proceed. SIRIUS and XM each obtained stockholder approval for the pending merger in November 2007. The pending merger is still subject, among other conditions, to approval of the Federal Communications Commission.
As a result of the later meeting date, XM will file with the SEC today an amendment to its Annual Report on Form 10-K to include the required information regarding its directors and executive compensation.
XM 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, Ferrari, 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, the exclusive home on the Internet for XM's commercial-free music channels; 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. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/ .
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 2-28-08. Copies of the filing are available upon request from XM Radio's Investor Relations Department. All programming subject to change.Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO
SOURCE: XM Satellite Radio
CONTACT: Nathaniel Brown, +1-212-708-6170, email@example.com,
or Investors, Joe Wilkinson, +1-202-380-4008, firstname.lastname@example.org, both
of XM Satellite Radio
Web site: http://www.xmradio.com/