Investor Relations

SIRIUS Satellite Radio To Bring Entertainment And Technology Closer Together With New Executive Appointments

  • Scott Greenstein Named President, Entertainment and Sports
  • James E. Meyer Named President, Operations and Sales

  • NEW YORK, NY – May 6, 2004 – Sirius Satellite Radio (NASDAQ: SIRI), known for delivering the very best in commercial-free music and premium sports programming to cars and homes across the country, today announced that it has appointed Scott Greenstein as President, Entertainment and Sports, and James E. Meyer as President, Operations and Sales. Both executives will report to Joseph P. Clayton, Chief Executive Officer of SIRIUS.

    Greenstein, who brings entertainment industry experience to SIRIUS, has been a consultant to the company on the recent NFL and Penske agreements, as well as other entertainment and sports transactions. He will oversee all programming, marketing and corporate marketing for the nationwide satellite radio broadcaster. Meyer, who also has served as a consultant to SIRIUS, will be responsible for overseeing and directing all operations and sales, including its automotive OEM business, retail markets, product management, strategic partners, engineering functions, and geographical expansion.

    “One of the major challenges for a company like SIRIUS in today’s complex and ever-changing environment is to bring together entertainment and technology for the benefit of consumers. Scott Greenstein and Jim Meyer bring a breadth of knowledge, core competencies, and experience that will help us meet this challenge, and take us to the next level of our development,” said Joseph P. Clayton, Chief Executive Officer of SIRIUS. “With his extensive background and numerous accomplishments in the entertainment field, Scott will bring a new dimension to our programming and corporate marketing strategies, and will help develop future content that will continue to set us apart from the competition. Jim’s experience in consumer electronics sales, marketing, product management, manufacturing, content and engineering makes him uniquely qualified for this sales and operations position. They will play vital roles in enhancing stockholder value and helping to secure the long-term success of SIRIUS.”

    “The promise of SIRIUS goes well beyond commercial-free radio. Satellite technology, as many television viewers already know, affords audiences great access, flexibility and precision in programming their own personal entertainment preferences,” said Greenstein. “I am fortunate to be in the position of putting SIRIUS programming in front of consumers, empowering them to select their own diverse choices from the best in music, sports, news, and information, and re-igniting America’s love affair with radio.”

    Scott Greenstein was named Chairman of USA Films, a motion picture production, marketing and distribution company, in 1999 where he oversaw all aspects of the company’s film activities and supervised its home entertainment business through USA Home Entertainment, which handled home video/DVD distribution for the NFL, NHL, NBA, and MLB. USA Films was a division of USA Networks, Inc., now known as InterActive Corp. Under Greenstein, USA Films’ first in-house supervised production to be released was Steven Soderbergh’s “Traffic,” which earned many accolades and multiple nominations, including Best Picture nominations for the Golden Globe Awards and the Academy Awards. Traffic won four Academy Awards, including Best Director and Best Supporting Actor, and two Golden Globe Awards. The film earned $124 million domestically, becoming USA’s highest-grossing release. Other USA Films include: Gosford Park, Being John Malkovich, Nurse Betty, Monsoon Wedding and Far From Heaven.

    Greenstein also served as Co-President of October Films, where he was instrumental in acquiring, marketing and releasing such critically acclaimed films such as “The Apostle,” and the Academy Award-winning documentary, “The Last Days,” which was executive produced by Steven Spielberg. Prior to joining October Films, Greenstein was Senior Vice President of Motion Pictures, Music, New Media and Publishing at Miramax Films where he executive produced Anthony Minghella’s “The English Patient,” which won nine Academy Awards, including Best Picture and Best Director.

    Greenstein also served in senior management positions at Viacom International.

    Prior to joining SIRIUS, James Meyer was President of Aegis Ventures, a general management consulting company. Before Aegis, Meyer held a number of senior management position in consumer electronics including, Senior Executive Vice President, Digital Media Solutions for Thomson, a worldwide leader in consumer electronics. In this position, he had full responsibility for Thomson’s Digital Media Solutions Business Unit, a global business serving the entertainment, broadcast and content industries, including such clients as Disney, Warner Brothers, Dreamworks, Microsoft, Direct TV, ABC and BBC.

    He also served as Thomson’s Chief Operating Officer for the Americas and as Senior Vice President of Product Management, along with other senior management positions at Thomson, General Electric and RCA during his 25 years in consumer electronics. Meyer also serves on the boards of Gemstar-TV Guide, Mikohn Gaming Corporation, Escient Solutions and Equant.

    “I believe that the potential of satellite radio – and SIRIUS – is enormous,” said Meyer.

    “The combination of a strong management team, dedicated partners, innovative products and unequalled programming makes SIRIUS an easy choice for consumers, and I am excited to be part of something that will be historic in the annals of consumer electronics.”

    About SIRIUS
    SIRIUS provides listeners with over 110 channels of the best commercial-free music, sports, information and entertainment, with digital quality sound coast-to-coast, broadcast daily from New York City, Los Angeles, Nashville, New Orleans, Houston and Daytona. SIRIUS offers over 60, 100% commercial-free, music channels featuring multiple categories of Pop, Rock, Country, Hip-Hop, R&B, Dance, Jazz, Classical and Latin music, along with more than 50 channels of world-class sports, news, talk entertainment, traffic and weather for a monthly subscription fee of only $12.95, with greater savings for upfront payments of multiple months or a year or more. SIRIUS also broadcasts live play-by-play games of the NHL, NBA and NFL, and is the official satellite radio partner of the NFL.

    SIRIUS Satellite Radio products for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Eclipse, Jensen, JVC, Kenwood, Panasonic and U.S. Electronics, and can be purchased at major retailers including Best Buy, Car Toys, Circuit City, Good Guys, Sears, Tweeter and Ultimate Electronics, along with Wal-Mart, RadioShack and DISH Network outlets in mid-2004.

    SIRIUS’ exclusive automotive partners DaimlerChrysler, Ford and BMW represent over 40% of new cars and light trucks sold annually in the United States. Automotive brands currently offering SIRIUS radios in select new car models include BMW, MINI, Chrysler, Dodge, Jeepâ, Nissan, Infiniti, Mazda, Audi, Ford, Lincoln-Mercury, Mercedes-Benz and Volkswagen. Automotive brands that have announced plans to offer SIRIUS radios in select models include Jaguar, Volvo, Land Rover and Aston Martin. In 2004, SIRIUS radios are expected to be available in over 80 different car models, with more than 50 of them factory programs. Also, Hertz currently offers SIRIUS in 29 vehicle models at 53 major locations around the country. In addition, Penske Companies – Penske Auto Group, United Auto Group and Penske Trucking are offering SIRIUS radios as a factory installed option, where available, in their cars and trucks through their dealerships.

    Genmar Holdings, the world’s largest manufacturer of recreational boats, Formula Boats and Winnebago, the leading supplier of recreational vehicles and motor homes, also offer SIRIUS.

    Click on sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.

    Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2003 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our results of operations are: our dependence upon third parties to manufacture, distribute, market and sell SIRIUS radios and components for those radios; the unproven market for our service; our competitive position and any events which affect the useful life of our satellites.