NEW YORK, April 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (Nasdaq: SIRI) and Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) today announced an exclusive four-year agreement to create and launch a Martha Stewart-branded satellite radio channel. The channel, the first of its kind, will provide original programming specifically designed for women listeners and their families, 24-hours-a-day, seven days-a-week.
Martha Stewart Living Radio will leverage the company's expertise in the lifestyle arena to create programming focused on topics such as cooking, entertaining, gardening, home-keeping, decorating, holidays, collecting, health and whole living, crafts, and weddings, as well as how-to projects for parents and children, and information and tips for owners and their pets. Martha Stewart will be a regular presence on the channel and will be actively involved with program development. Martha Stewart Living Omnimedia's team of experts will also contribute. Martha Stewart Living Radio is expected to begin on SIRIUS later this year. Terms of the agreement were not disclosed.
"Martha Stewart Living is the premier brand in lifestyle and how-to programming for women and their families. Martha Stewart Living Radio on SIRIUS will have tremendous appeal to women, who are completely underserved by traditional radio programming," said Mel Karmazin, Chief Executive Officer of SIRIUS. "We expect our partnership with Martha Stewart Living Omnimedia to generate both significant subscriber growth and substantial advertising revenue, as sponsors will rush to embrace this huge, brand-loyal audience."
"This will be the first 'around the clock' channel devoted entirely to areas of interest for women in particular. It has been our dream to bring our expertise in the life-style arena, and our vast library of how-to ideas, to radio programming. Just as we pioneered in the creation of the how-to lifestyle magazine and how-to television media categories, our new partnership with SIRIUS is breaking new ground in satellite radio," said Martha Stewart, founder Martha Stewart Living Omnimedia. "The combined strength of our two companies will enable our customers, as well as current and future SIRIUS subscribers to benefit from our company's unique approach to how-to content. We are all about information and inspiration that is pertinent to every family's everyday living, and we know that our new partnership will enable an even broader audience to partake of our brand of practical, useful, sensible and nurturing information."
"Martha Stewart has an incredibly vibrant and active community of loyal readers and viewers who look for every opportunity to connect and learn from her. This new channel will deliver ideas and information, conversations and expert advice, whenever and wherever their busy lives take them," said Susan Lyne, Martha Stewart Living Omnimedia President and CEO. "We also see a tremendous opportunity to reach a new audience with programming that will be relevant, useful, and entertaining. "SIRIUS is a true innovator in this uniquely personal and interactive medium, and the company's strong brand and phenomenal growth rate make them a perfect partner for this new venture."
Editors and producers at Martha Stewart Living Omnimedia have been regularly recognized for their work: the company has received 60 Emmy nominations for the daytime Martha Stewart Living television show, including three this year. Last week, Martha Stewart Living won two National Magazine Awards; Martha Stewart Weddings won in the general excellence category for magazines with circulation of 250,000 to 500,000. Kids: Fun Stuff To Do Together, won for best magazine design amongst all national magazines
"Through magazines, books, television, Internet, and merchandising, Martha Stewart Living has become the leader in women's lifestyle as a brand that stands for quality and expertise around the world," said Scott Greenstein, President of Entertainment and Sports Programming. "SIRIUS and Martha Stewart Living together create a one-of-a-kind combination that will provide women with the definitive complement to their lives and lifestyle."
For those who want to subscribe to Martha Stewart Living Radio on SIRIUS, information is available at http://www.SIRIUS.com and http://www.marthastewart.com or by calling 800-869-5059 or 800-869-5547.
SIRIUS delivers more than 120 channels of the best commercial-free music, compelling talk shows, news and information, and the most exciting sports programming to listeners across the country in digital quality sound. SIRIUS offers 65 channels of 100% commercial-free music, and features over 55 channels of sports, news, talk, entertainment, traffic and weather for a monthly subscription fee of only $12.95. SIRIUS also broadcasts live play-by- play games of the NFL and NBA, and is the Official Satellite Radio partner of the NFL.
SIRIUS radios for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Delphi, Jensen, JVC, Kenwood, Pioneer, Sanyo and XACT Communications. Available in more than 25,000 retail locations, SIRIUS radios can be purchased at major retailers including Best Buy, Circuit City, Crutchfield, Office Depot, Sears, Target, Wal-Mart and RadioShack. SIRIUS is also available at heavy truck dealers and truck stops nationwide.
SIRIUS radios are currently offered in vehicles from Audi, BMW, Chrysler, Dodge, Ford, Infiniti, Jeep(R), Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Volkswagen and Volvo. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on http://www.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, 2004 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our operational results are: our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming partners, our competitive position and any events which affect the useful life of our satellites.
P-SIRI About MSO:
Martha Stewart Living Omnimedia, Inc. (MSO) is a leading provider of original "how-to" information, inspiring and engaging consumers with unique lifestyle content and high-quality products. MSO is organized into four business segments: Publishing, Television, Merchandising, and Internet/Direct Commerce. Martha Stewart Living Omnimedia, Inc. is listed on the New York Stock Exchange under the ticker symbol MSO.
This press release contains certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts but instead represent only our current beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These statements can be identified by terminology such as "may," "will," "should," "could," "expects," "intends," "plans," "anticipates," "believes," "estimates," "potential" or "continue" or the negative of these terms or other comparable terminology. The Company's actual results may differ materially from those projected in these statements, and factors that could cause such differences include further adverse reaction to the prolonged and continued negative publicity relating to Martha Stewart by consumers, advertisers and business partners; further adverse reaction by the Company's consumers, advertisers and business partners to the outcome of Ms. Stewart's trial and related sentencing arising from a sale of non-Company stock by Ms. Stewart; a loss of the services of Ms. Stewart; a loss of the services of other key personnel; an adverse resolution to the SEC enforcement proceeding currently underway against Ms. Stewart arising from her personal sale of non-Company stock; adverse resolution of some or all of the Company's ongoing litigation; downturns in national and/or local economies; shifts in our business strategies; a softening of the domestic advertising market; changes in consumer reading, purchasing and/or television viewing patterns; unanticipated increases in paper, postage or printing costs; operational or financial problems at any of our contractual business partners; the receptivity of consumers to our new product introductions; and changes in government regulations affecting the Company's industries. Certain of these and other factors are discussed in more detail in the Company's filings with the Securities and Exchange Commission, especially under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations", which may be accessed through the SEC's World Wide Web site at http://www.sec.gov. The Company is under no obligation to update any forward- looking statements after the date of this release.
SOURCE SIRIUS Satellite Radio
Contacts SIRIUS: Patrick Reilly, Media, +1-212-901-6646, firstname.lastname@example.org; Ji Collins, Media, +1-212-901-6422, email@example.com; Michelle McKinnon, Investor Relations, +1-212-584-5285, firstname.lastname@example.org; Contacts MSO: Media Elizabeth Estroff, AVP, Corporate Communications, +1-212-827-8281; Media - Allyn Magrino, Samantha Schabel, Susan Magrino Agency (For MSO), +1-212-957-3005; Investor - Howard Hochhauser, VP, Finance and Investor Relations, +1-212-827-8530
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