XM Satellite Radio and DirectTV Announce Joint Marketing Agreement
XM SATELLITE RADIO AND DIRECTV ANNOUNCE JOINT MARKETING AGREEMENTWashington D.C.,
February 13, 2002
XM Satellite Radio (Nasdaq: XMSR), the nation's leading satellite radio service, and DIRECTV, Inc. the nation's leading provider of digital satellite television entertainment, today announced a joint marketing agreement designed to help drive XM subscriber growth by giving DIRECTV satellite television customers value-added offers for XM. Specific elements of the proposed marketing program were not disclosed.
"DIRECTV customers already understand the advantages that come with satellite entertainment - programming variety, superior reception and great value," said Hugh Panero, XM's president and CEO and Roxanne Austin, DIRECTV president and COO, in a joint statement. "XM looks forward to providing DIRECTV customers with a premier nationwide radio service for the car and home that revolutionizes radio the same way DIRECTV revolutionized television."
XM is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24-hour news sources available in the home on cable and DIRECTV.
XM radios are available at major electronics retailers nationwide including Best Buy, Circuit City, Tweeter, Ultimate Electronics, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers. Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios including models that will easily enable any existing car stereo system to receive XM service (the Pioneer Universal Receiver and the Sony Plug-and-Play) and 21 models of new AM/FM/XM systems offering many other great features. General Motors in November rolled out factory-installed Delphi-Delco XM radios in Cadillac DeVille and Seville models, and will expand to 21 additional GM models this year. XM's strategic investors include America's leading car, radio and satellite TV companies -- General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV.
XM was named "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 International Consumer Electronics Show, including "Best of CES" in the automotive category. For more information, please visit XM's web site: www.xmradio.com.
About DIRECTV, Inc.
DIRECTV is the nation's leading digital satellite television service provider with more than 10.7 million customers. DIRECTV and the Cyclone Design logo are trademarks of DIRECTV, Inc., a unit of Hughes Electronics Corporation. HUGHES is the world's leading provider of digital television entertainment, broadband services, satellite-based private business networks, and global video and data broadcasting. The earnings of HUGHES, a unit of General Motors Corporation, are used to calculate the earnings per share attributable to the General Motors Class H common stock (NYSE: GMH). Visit DIRECTV on the World Wide Web at DIRECTV.com
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8-K filed with the Securities and Exchange Commission on 12-6-2001. Copies of the filing are available upon request from XM Radio' s Investor Relations Department.
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