National, January 06, 2000 -- XM Satellite Radio (NASDAQ: XMSR): has expanded its Detroit sales office, naming Matthew Dillon Director of OEM Sales. Mr. Dillon will concentrate on factory-installation of XM-Capable radios in new cars. The announcement was made by Daniel Murphy, XM Satellite Radio's Vice President of Retail Marketing and Distribution, to whom Mr. Dillon reports.
XM Satellite Radio is developing a new band of radio, targeted to launch in early 2001. XM Radio will create up to 100 channels of digital-quality music, news, sports, talk and children's programming, which will be uplinked to XM Radio's powerful satellites and transmitted directly to vehicle, home and portable radios from coast to coast for a monthly subscription fee of $9.95. XM Satellite Radio is backed by a group of industry-leading strategic investors, including General Motors, Clear Channel Communications and DIRECTV, the leading car, radio and satellite companies in the US. XM Radio has agreements with leading consumer electronics companies to manufacture and distribute radios capable of receiving the XM signal: Alpine, Audiovox, Delphi Delco Electronic Systems, Mitsubishi Electronic Automotive America, Motorola, Pioneer Electronics Corporation, Sharp Corporation and Sony.
"XM Radio is committed to working with and supporting the needs of our automotive partners," said Mr. Murphy. "Matt brings extensive knowledge and experience to our team. When we launch, XM Radioâ�tms primary market will be listeners in their cars and other vehicles. Therefore, OEM and the car radio aftermarket are central to our distribution strategy."
XM Satellite Radio has entered into a 12-year marketing and distribution agreement with General Motors to integrate XM-Ready radios into its vehicles commencing in 2001. In November 1999, GM placed the very first order ever for satellite radios through Delphi Delco. In addition, XM Radio is in discussion with all other major automobile manufacturers. Alpine, Clarion, Delphi Delco, Mitsubishi Electronic Automotive of America, Motorola, Pioneer and Sharp have all announced that they will make and market XM-Ready radios.
Mr. Dillon comes to XM Radio after more than 10 years at Aisin World Corporation of America. Most recently, he was Director of Sales and Marketing, responsible for Chrysler, among other accounts. Previously, as OEM Account Representative at Masco Industries' C&C Inc., the General Motors account was among his responsibilities. Mr. Dillon has a Bachelor of Science degree from Lake Superior State College in Sault Ste. Marie, MI.
In October 1999, XM Satellite Radio (NASDAQ:XMSR) completed a successful public offering on NASDAQ. American Mobile Satellite Corporation (NASDAQ:SKYC) holds controlling interest in the company. XM Radio's other investors include industry leaders Clear Channel Communications Inc.; DIRECTV, Inc., a unit of Hughes Electronics Corporation; the General Motors Corporation; and a private investment group comprised of Columbia Capital, Telcom Ventures L.L.C., and Madison Dearborn Partners, which together invested $250 million in the company in July 1999. XM Radio has entered into a 12-year marketing and distribution agreement with General Motors to integrate XM-Ready radios into its vehicles commencing in 2001. XM Satellite Radio obtained one of only two satellite digital audio radio service (SDARS) licenses from the Federal Communications Commission in October 1997.
First there was AM, then FM and soon ... XM Satellite Radio. For more information, please visit XM's new website: www.xmradio.com.
Factors that could cause forward-looking statements (including projections and business trends) in this document to differ materially from actual results are detailed from time to time in XM Radio's filings with the Securities and Exchange Commission.