Sirius XM Radio Announces Selection Procedures for the SiriusXM "Qualified Entity Set-Aside" Program to Lease Channel
NEW YORK-January 7, 2013-Sirius XM Radio (NASDAQ: SIRI) today announced selection procedures to lease one Qualified Entity channel to be broadcast via satellite and carried online as part of its voluntary commitment stemming from the merger of Sirius and XM in 2008 and following expanded broadcast capacity.
The Federal Communications Commission has made this set-aside available only to lessees that are not directly or indirectly owned, in whole or in part, by SiriusXM or an affiliate of SiriusXM; do not share any common officers, directors or employees with SiriusXM or any affiliate of SiriusXM; and did not have any existing relationships with SiriusXM for the supply of programming during the two years prior to October 19, 2010.
SiriusXM is looking for the following in making its selection for this set-aside: Programming representing diverse viewpoints and/or diverse entertainment content; improved service to historically underserved audiences; original content of a type not otherwise available to SiriusXM subscribers; and access to new sources of content and new entrants to mass media. Applications should demonstrate that the proposer has the financial, operational, and technical ability to perform its obligations under the lease. SiriusXM will select a programmer that, in its judgment, will be able to meet its obligations and deliver its proposed mix or type of programming for the duration of the lease term.
The satellite channel will be available only on SiriusXM satellite radios designed to receive SiriusXM's expanded channel lineup, online at SiriusXM.com and via the SiriusXM Internet Radio App for smartphones and other connected devices.
Applications are due by February 21, 2013. SiriusXM will inform the FCC of its tentative selection on or before April 16, 2013. SiriusXM expects to sign a lease agreement by May 31, 2013.
At the same time, SiriusXM will also select one additional channel for its public interest set-aside. This channel will also be receivable only on certain satellite radios designed to receive SiriusXM's expanded channel lineup and online at SiriusXM.com and via the SiriusXM Internet Radio App for smartphones and other connected devices. For updated information and procedures for submitting applications for these set-aside channels, please visit siriusxm.com/qualifiedentity.
About Sirius XM Radio
Sirius XM Radio Inc. is the world's largest radio broadcaster measured by revenue and has 23.4 million subscribers. SiriusXM creates and broadcasts commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment; and the most comprehensive Latin music, sports and talk programming in radio. SiriusXM is available in vehicles from every major car company in the U.S., from retailers nationwide, and online at siriusxm.com. SiriusXM programming is also available through the SiriusXM Internet Radio App for Android, Apple, and BlackBerry smartphones and other connected devices. SiriusXM also holds a minority interest in SiriusXM Canada which has more than 2 million subscribers.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our competitive position versus other forms of audio entertainment; our dependence upon automakers; general economic conditions; failure of our satellites, which, in most cases, are not insured; our ability to attract and retain subscribers at a profitable level; royalties we pay for music rights; the unfavorable outcome of pending or future litigation; failure of third parties to perform; and our substantial indebtedness. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2011, which is filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
Contact for SiriusXM:
646 313 2405