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The Sunday Times October 08, 2006
Island DNA clue to serial rapist
POLICE are to launch a new appeal in the hunt for a serial sex attacker suspected of assaults on 32 elderly women, after DNA tests established his ancestors came from the Windward Islands in the Caribbean, writes Robert Booth.
The man, known as “the Night Stalker”, is thought to have been responsible for 98 offences — including burglary — against women aged between 68 and 93 in south London. He is said by police to be a light-skinned black man about 35 years old and is known as a “gerontophile” — someone who feels a sexual attraction to old people.
Using advanced techniques in DNA profiling, the investigators have found that his genetic make-up includes American Indian ancestry, which would mark him out as from the Caribbean rather than Africa.
A further analysis has been made of the DNA of police officers with Caribbean heritage and who knew the island from which their families originated. This has enabled the scientists to narrow the search down to the Windward Islands, which include Barbados and St Vincent.
“We hope to predict which countries are the most likely birthplaces for both parents of our offender,” said a spokesman for the Metropolitan police.
They have been helped by scientists including Professor Paul McKeigue, a genetic epidemiologist at University College, Dublin, and DNAPrint Genomics, a US company involved in the mapping of the human genome. Together they have established that the attacker’s background is 12% native American, 6% European and the remainder African.
“It has now become possible to assign someone’s country of origin from genetic markers,” said McKeigue. “It is possible to infer what kind of mix a person’s ancestry is, although we always express it as a probability, because nothing is certain.”
All of the suspect’s victims have been elderly, with his attacks centred on Orpington, and Shirley, near Croydon. His first assault that left DNA evidence was in Shirley in 1992 and his most violent was in August 1999 when he raped a woman twice. The last suspected incident is thought to have been in January last year.
He has typically struck in the early hours after hiding in his intended victim’s garden to ensure she is alone. He has raped four women and indecently assaulted a further 28 and usually steals from the victim.
Dr Julian Boon, a police profiler who has worked on the case, has said: “He doesn’t hate these women; he wants to love them.” He added that the suspect appeared to show remorse by stopping for long periods after a victim had been hurt.
Operation Minstead, an investigation into the apparently linked attacks, began in 1998. In 2004 police appealed for black men in south London to come forward to take a DNA test in order to rule them out of the inquiries.
Press Release Source: Pet Ecology Brands, Inc.
Pet Ecology Brands, Inc. Announces Initiatives to Extend Its Brand Identification in the Consumer Market
Thursday February 9, 9:09 am ET
Company Begins Sponsorship of Adopt-A-Pet Events With National and Regional Humane Societies and Extends Retailer Support Campaign
DALLAS, TX--(MARKET WIRE)--Feb 9, 2006 -- Pet Ecology Brands, Inc. (Other OTC:PECB.PK - News) -- www.petecology.com -- announced that the Company has adopted several initiatives to increase consumer awareness of its product lines and national recognition of its corporate identity.
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Pet Ecology is now an official sponsor of ARFHouse, the third largest care-for-life, no-kill pet sanctuary in the U.S. As part of its sponsorship, the Company will be participating in the "Love a Homeless Pet" campaign, which is scheduled for Feb. 13, and will be held at Texas Instruments in Dallas, TX. The Company will also be sponsoring the Indianapolis Humane Society events in Indianapolis throughout this year, and has already donated 1 pallet of Scientific Professional Cat Litter for their use. Donations of Scientific Professional Cat Litter will be included with all cat and kitten adoptions, and dog & puppy adoptions will receive donated K-9 Fat Free Dog Treats.
Deborah Wadsworth-Evans, Director of Marketing for Pet Ecology, in describing these new initiatives stated: "We are very pleased with our decision to support ARFHouse and various national and regional humane societies throughout the United States through a donation of our products to new pet owners as they adopt pets. Our marketing mission is to brand our product lines throughout the United States very rapidly, and to raise our profile as a concerned corporate citizen on various pet issues. Our decision to supply one free bag of our cat litter or one free bag of fat free treats with each pet adoption indicates our commitment to these various organizations, as well as our view that once a consumer tries our products, whether bought in a specialty retailer or received because of his or her adoption of a pet, we have a customer for life for our various products. These initiatives are more cost effective than the traditional method of attracting these customers through media, allowing us to support these important charitable organizations, while bringing our products to the attention of the public in the shortest period of time. We expect to extend our support of these pet adoption programs throughout the United States and Canada in 2006."
Pet Ecology is also a sponsor for Boutique Pet Shop & Aquarium's 5th Annual Pet Sale to be held on Feb. 18 at White Rock Lake in Dallas, TX. Owners, Boyce and Deloris Petty, have operated their store in the same location for more than 30 years, and have been written up in D Magazine, and voted by the Observer "Best of Dallas" as the first place to look for cutting edge pet supplies. As part of its retailer support program, Pet Ecology is sending mailers to 10,000 of their preferred customers one week before the event. The Company is also working with Pet Supplies Plus of Dallas, and will be sponsoring their new store Grand Opening scheduled for April of this year. The Company will continue to support all of its retailers through the United States with a co-sponsorship of significant events throughout the year, as well as custom designed mailers to their customer bases offering discount coupons and educational materials.
The Company will be attending a variety of trade shows and events throughout the year, including the upcoming 2006 Midwest Veterinary Conference, presented by the Ohio Veterinary Medical Association to be held Feb. 23-26 at the Greater Columbus Convention Center in Columbus, OH. The Company will also be attending the Indianapolis Pet Quarterly Family Pet Expo on Feb. 18 and 19 at the Indiana State Fairgrounds Horticulture Building. These events will feature exhibitors, agility demonstrations, educational seminars, live entertainment, pet adoptions, and celebrity appearances, and expects to draw approximately 15,000-20,000 attendees.
The Company has confirmed that they will be attending the H.H. Backer Pet Industry Spring Trade Show & Educational Conference, to be held April 7-9, 2006, at the Atlantic City Convention Center. Since 1989, Backer's Pet Industry Spring Trade Show & Educational Conference has been the only show to tap into the lucrative East Coast market, and should be attended by over 5,000 specialty pet distributors and retailers.
Pam Basinger, Pet Ecology's Director of Sales in describing the ongoing marketing campaigns indicated: "We began 2006 with the goal of having our products being carried in over 20,000 specialty retailers, vets and breeders throughout the United States and Canada. In order for us to achieve this goal and recognize over $30,000,000 of revenues in 2006, we knew that we would have to adopt non-traditional methods of bringing our products to the attention of the market, beside the extensive media campaign that we have just announced. Through our direst sponsorship of retailer events and our substantial attendance at pet and consumer trade shows and conferences, we continue to gain market recognition and consumer support for our existing product lines, and the additional five products and line extensions that we will be bringing to market in 2006. We consider our sales team to be the most aggressive and the most innovative in our industry, and we are accomplishing in months our presence and brand identity in the pet industry, when others in the industry have taken years."
To join Pet Ecology's E-Mail Alert List by clicking the link below: http://www.b2i.us/irpass.asp?BzID=1346&to=ea&Nav=1&S=0&L=1
About Pet Ecology Brands, Inc.
Pet Ecology Brands, Inc. has developed a revolutionary patented cat litter that destroys urine odor, clumps, and is earth-friendly. The litter is ultra-lightweight and convenient to use (3lbs works like 21lbs of clay/sand based products); it is 100% flushable and safe for sewer and septic tank systems. It is completely safe for cats and our environment, and does not contain any sodium bentonite, as used in competing brands. The design helps to protect the landfills, and yet does everything that clay litters do... and more. It has the ability to help indicate certain diseases commonly occurring in cats. The technique used is similar to that found in Merck's Veterinarian Manual. However, this litter not only warns of possible illness, but may also help indicate how far along the illness may be by the color the litter changes to, thereby providing the pet owner significant additional benefits and an early warning system concerning the cat's health.
A 20lb package configuration, which was released to the market during the week of January 9, 2006, and is designed specifically for professional breeders & kennels, will also be available for consumers in early Spring 2006.
Pet Ecology's K-9 Fat Free Dog Treats(TM) are the first fat free treats on the market that meet the standards of the U.S. Department of Agriculture, and offer dog owners an effective means to provide their pets with a non-fat tasty treat. They are also cholesterol free and sodium free. According to U.S. News & World Report, "the number one health problem for dogs is obesity." Today, dogs are fed fat rich food and treats, and often get significantly less exercise than required to maintain an ideal weight and healthy condition. Overweight dogs are more prone to serious injury, skeletal stress, and the same complications that people experience with significant weight gain via fat rich diets, ranging from heart and lung problems, to skin and kidney diseases, to circulatory and immune system issues.
Other products anticipated being launched by Pet Ecology Brands in 2006 include the first fat free cat treat, a vitamin enhanced dog treat, a low sodium and low fat microwavable gourmet cat dinner; and two product line extensions for the Scientific cat litter line to help indicate feline pregnancy and diabetes.
SAFE HARBOR STATEMENT
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
Contact:
Jane Lorenzen
Pet Ecology Brands Inc
14822 Venture Dr.
Dallas, TX 75234
972-759-8080
http://www.petecology.com
http://www.scientificcatlitter.com
http://www.k9fatfreedogtreats.com
Investor Relations Contact:
Gerald Kieft or Ryan Audin
Wall Street Resources, Inc.
2646 SW Mapp Road, Suite 303
Palm City, Florida 34990
772-219-7525
http://www.wallstreetresources.net
Source: Pet Ecology Brands, Inc.
Just wondering if anyone is still watching this board?
JIMMY BUFFETT TO BRING RADIO MARGARITAVILLE EXCLUSIVELY TO SIRIUS SATELLITE RADIO
NEW YORK (May 10, 2005) - Singer/songwriter/author Jimmy Buffett and SIRIUS Satellite Radio (NASDAQ: SIRI) today announced an agreement to present a Radio Margaritaville music channel exclusively for SIRIUS subscribers. The new 24-hour channel, featuring a wide variety of music, live broadcasts of Buffett's concerts and other unique programs, will debut this summer.
"I first listened to SIRIUS' incredible programming in my car and my boat," said Jimmy Buffett. "We designed Radio Margaritaville after the old pirate radio stations that sat offshore and played what they wanted. When I saw how SIRIUS is changing the way radio is being heard, I welcomed the opportunity for Radio Margaritaville to join them."
"Margaritaville is more than just great music - it's a lifestyle," said Scott Greenstein, SIRIUS President of Entertainment and Sports. "Our subscribers requested more of Jimmy Buffett. With this new channel, we'll bring them not just his tunes, but the music Jimmy listens to himself. Jimmy's impeccable sense of what his audiences love and enjoy will now come to life for SIRIUS subscribers, who will be able to enjoy it wherever and whenever they want."
Jimmy Buffett launched Radio Margaritaville in 1998 as an Internet-only channel, which will still be available at www.radiomargaritaville.com. Now, for the first time, Jimmy Buffett fans across America can hear the channel in their cars, on their boats and on the go by becoming SIRIUS subscribers.
SIRIUS will also broadcast Radio Margaritaville live on a regular basis from a studio located at Buffett's Margaritaville restaurant at Universal City Walk in Orlando, Florida. The channel is expected to broadcast from its other Margaritaville Cafes and Restaurants currently located in Key West, New Orleans, Las Vegas, Jamaica and Cancun.
As one of today's most successful artists, Jimmy Buffett performs sold-out concerts worldwide and has recorded forty records, most of which have gone gold, platinum or multi-platinum. Jimmy's newest CD, License To Chill, which debuted at #1 on both the Pop and Country charts, was the first number one record of his career, spent 15 weeks in the Top 10 of the Billboard Country Albums Chart, and has been certified platinum by the RIAA.
Also an author, Jimmy's new novel, A Salty Piece Of Land, was released and immediately entered the New York Times Bestseller List. The New York Times said it "is very possibly Buffett's best work to date." With Jimmy's three previous No. 1 bestsellers, he is one of only six authors in the history of the New York Times Bestseller List to have reached No. 1 on both their fiction and non-fiction lists.
The arrangement with Jimmy Buffett is the latest SIRIUS endeavor to provide its subscribers with unique, proprietary content featuring some of the most popular and intriguing personalities in entertainment.
About SIRIUS
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 major locations around the country.
Click on 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.
Media Contact:
Elise Brown
SIRIUS
212.584.5290
ebrown@siriusradio.com
SIRIUS SATELLITE RADIO TO PRESENT AT THE MORGAN STANLEY TENTH ANNUAL MEDIA & COMMUNICATIONS CONFERENCE
NEW YORK - May 2, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that David Frear, its Executive Vice President and Chief Financial Officer, is expected to present at the Morgan Stanley Tenth Annual Media & Communications Conference on Thursday, May 5, 2005 at 10:30 a.m. EST.
A live audio webcast of the presentation will be available via the Investor Relations section of the Company's website sirius.com on Thursday, May 5, 2005 at 10:30 a.m. EST.
About SIRIUS
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 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.
G-SIRI
Media Contacts:
Jaymie Van Valkenburgh
Investor Relations
SIRIUS
212.584.5158
jvanvalkenburg@siriusradio.com
Jim Collins
Corporate Communications
SIRIUS
212.901.6422
jcollins@siriusradio.com
SIRIUS AND PODCAST INVENTOR WILL BRING THE BEST PODCASTS TO SATELLITE RADIO
Podcast Originator Adam Curry to Produce Daily Podcast Program Exclusively for SIRIUS
NEW YORK - (May 2, 2005) - SIRIUS Satellite Radio (NASDAQ: SIRI) and PodShow.com announced today that Adam Curry, the "father of podcasting," will produce a special SIRIUS Satellite Radio program which will broadcast the best podcasts in the world exclusively to SIRIUS subscribers.
The program, Adam Curry's PodShow, debuts on SIRIUS on Friday, May 13th. This marks the first collaboration between the two key players in the two most exciting, innovative mediums in audio broadcasting - satellite radio and podcasting. Curry helped design the digital tools that have made podcasting a worldwide phenomenon.
The four-hour, weekday program will feature highlights and insights from the world of podcasting and will introduce SIRIUS listeners to a completely new range of talent and artists from around the world, including the best new, undiscovered music. The program's SIRIUS debut coincides with the launch of Curry's PodShow.com, the first true entertainment and information network in podcasting.
"Podcasting allows an amazing new group of producers and artists to share their talent and creativity," said Scott Greenstein, SIRIUS President of Entertainment and Sports. "With this new venture, SIRIUS and PodShow.com will bring the best of podcasting's most innovative players and artists directly to SIRIUS subscribers."
Podcasting enables anyone to create and/or host his or her own programming and make it available for others to download to a computer or portable media player. In less than six months, more than six million people have listened to podcasts.
"Podcasting is not just about portable media players," said Curry, the former star MTV VJ who developed podcasting in mid-2004. Explaining how the new collaboration between SIRIUS and PodShow.com takes podcasting to a completely new level, he said, "Podcasting is an entirely new form of broadcasting that enables anyone to create powerful content. By combining the creative talent and content of available podcasting with superior programming of SIRIUS, we can create and showcase talent that terrestrial radio listeners would not be able to hear. We think that this partnership is about introducing the best of podcasting to the world."
Adam Curry's PodShow will begin with four hours of daily programming, which will be heard weekdays exclusively on SIRIUS channel 148. Listeners can expect unique insights into the world of podcasting from its inventor, as well as get a taste of the most popular podcasts - from engaging talk to outrageous comedy to the hottest music in podcasting. In another first, listeners to the program will be able to provide feedback to Curry through telephone and the Internet, helping to shape the show's format on an ongoing basis.
Curry and SIRIUS are also working together to introduce some of SIRIUS' amazing talent to the PodShow.com world. "The combination of SIRIUS and PodShow.com creates the ultimate network," enthused Curry.
For more about SIRIUS, visit www.sirius.com.
About SIRIUS
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 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.
Media Contacts:
Elise Brown
SIRIUS
212.584.5290
ebrown@siriusradio.com
Ron Bloom
Bōkū Communications
305.491.1529
r.bloom@bokucom.com
podshow.com
SIRIUS SATELLITE RADIO REPORTS STRONG SUBSCRIBER AND REVENUE GROWTH IN FIRST QUARTER OF 2005
- Company Currently Has Over 1.5 Million Subscribers
- Revenue Up 365% Over Prior Year First Quarter
- Monthly Churn Improved to 1.3%
- Strong Cash Position Maintained
- SIRIUS Increases 2005 Year-End Subscriber Guidance to Over 2.7 Million
NEW YORK - April 28, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced strong first quarter subscriber growth and financial and operating results, driven by continued demand for its superior programming.
As of March 31, 2005, SIRIUS had 1,448,695 subscribers, attributing the better-than-expected subscriber growth to robust retail sales and rapidly expanding sales in its automotive distribution channel. SIRIUS reported revenue of $43.2 million for the first quarter of 2005, a 365% increase over the $9.3 million for the year-ago quarter, driven by a 312% increase over the company's subscriber base of 351,663 at the end of first quarter 2004.
The company is again raising its 2005 year-end subscriber estimate. SIRIUS now expects to have over 2.7 million subscribers at year-end, up from previous guidance of over 2.5 million, due to strong subscriber growth trends and continued robust demand for its service.
"Coming off a strong finish last year, we continued to see increased demand for SIRIUS during the first quarter," said Mel Karmazin, CEO of SIRIUS. "Not only did we beat Wall Street consensus for subscriber and revenue growth, but we also registered our lowest churn ever, which clearly indicates a preference for our superior programming, as well as very high levels of customer satisfaction. Our strong results in the automotive channel are increasingly contributing to our subscriber growth, and we expect this momentum to build even further as more factory programs begin this year. Plus, with the addition of Martha Stewart Living Radio later this year, the arrival of Howard Stern next January and NASCAR in 2007, we believe demand for our service will continue to increase as we approach the launch of this exclusive content."
The first quarter subscriber figure reflects net additions of 305,437 subscribers compared to 90,602 net additions in the first quarter of 2004, an increase of 237%. SIRIUS had an average monthly churn of 1.3% during the first quarter, the lowest since the launch of its service. The historically low churn reflects high customer satisfaction with SIRIUS' premier programming. The company reported subscriber
acquisition costs (SAC) per gross subscriber addition of $190 for the quarter, a 23% improvement over SAC per gross subscriber addition of $248 in the year-ago quarter. The company continues to expect SAC per gross subscriber addition to decrease to below $145 for full year 2005, with further declines expected in 2006.
In the first quarter of 2005, SIRIUS experienced significant increases in net subscriber additions across all its distribution channels while consumer awareness for the SIRIUS brand and for satellite radio in general continued to increase.
During the first quarter of 2005, SIRIUS added 174,202 net subscribers from its retail channel, a 166% increase over 65,514 retail net additions in the prior year first quarter. The company also added 132,211 net subscribers from its automotive, trucking and boating channels, a 449% increase over 24,093 net additions from those channels in the first quarter of 2004. Net additions from OEM and special markets represented 43% of total net additions in the first quarter of 2005, as compared to 27% of total net additions in the prior year's first quarter.
During the first quarter, Ford, BMW, Mercedes-Benz, Volvo, Land Rover, Jaguar and Volkswagen all announced expanded programs for installations of SIRIUS radios. In addition, Mitsubishi announced an exclusive agreement to factory install SIRIUS in various models beginning this fall.
SIRIUS' exclusive automotive partners, DaimlerChrysler, Ford and BMW continue to show a strong commitment to SIRIUS. In December 2004, DaimlerChrysler confirmed that its SIRIUS factory installation program was on track to produce over 500,000 subscribers over the 2005 and 2006 model years. BMW will begin offering SIRIUS as a factory-installed option in its new 3-Series when it is introduced next month. SIRIUS is already available as a factory-installed option on the 5-Series and 7-Series vehicles. In the first quarter of 2005, Ford announced plans to include SIRIUS as a factory-installed option in up to 21 of its models through the 2007 model year, and expects to generate up to one million SIRIUS subscribers by mid-calendar year 2007. Ford will begin factory installations of SIRIUS radios later this year.
SIRIUS continues to broaden the appeal of its programming to subscribers and advertisers. During 2005, the company announced an exclusive four-year agreement to create and launch Martha Stewart Living Radio later this year, as well as a five-year agreement to become the Official Satellite Radio Partner of NASCAR beginning in 2007. During the first quarter, SIRIUS hired two of the radio industry's most respected and accomplished advertising executives to help build advertising revenue on its non-music channels.
Guidance for 2005:
In view of a strong start to 2005, SIRIUS is raising guidance for 2005 net subscriber additions to 1.6 million, for a year-end 2005 subscriber target of over 2.7 million, up from over 2.5 million suggested by previous guidance. Estimated average monthly churn is expected to be in the range of 1.5% to 1.6% for 2005, ahead of the previous guidance of 1.6% to 1.7%, given the company's year-to-date reported churn and expectation of continued high customer satisfaction through year-end. The company continues to expect SAC per gross subscriber addition to be below $145 for the full year 2005, with further declines expected in 2006.
SIRIUS expects to generate $215 million of total revenue in 2005, up from previous guidance of $210 million, due to the increased subscriber growth for the year versus the previous guidance. The company now expects to report an adjusted loss from operations of approximately ($510) million in 2005, compared to previous guidance of ($480) million, reflecting increased SAC to support higher gross subscriber additions. Total operating cash uses, capital expenditures and purchases of restricted investments, are expected to be approximately ($375) million in 2005, as compared to previous guidance of ($350) million, primarily due to advance payments under our NASCAR agreement as well as increased SAC to support higher gross subscriber additions for the year.
SIRIUS ended the first quarter of 2005 with approximately $630 million in cash, cash equivalents and marketable securities, which the company believes is sufficient to reach cash flow breakeven in 2007 under its current business plan.
Conference Call Information:
SIRIUS will hold a conference call today at 8 am ET to discuss operating and financial results. The public, members of the investment community and the press will have live access to the conference call via the company's website www.sirius.com and on the SIRIUS service by tuning to SIRIUS Channel 131. A replay of the call will also be available on the SIRIUS website.
FIRST QUARTER 2005 VERSUS FIRST QUARTER 2004
For the first quarter of 2005, SIRIUS recognized total revenue of $43.2 million, compared with $9.3 million for the first quarter of 2004, a 365% year-over-year increase. This increase in revenue was driven by a net increase in the company's subscriber base of 1,097,032 subscribers, or 312%, from March 31, 2004 to March 31, 2005.
The company's adjusted loss from operations increased by $49.1 million, to ($127.1) million in 2005 (refer to the reconciliation table of GAAP loss from operations to adjusted loss from operations). This increase was driven in part by $40.1 million of increased subscriber acquisition costs, as SIRIUS' gross subscriber additions exceeded last year's first quarter gross subscriber additions by nearly 246,000 subscribers.
Programming and content expenses increased by $15.8 million, to $24.5 million for the first quarter of 2005, from $8.7 million for the first quarter of 2004. The increase in programming and content expenses was primarily attributable to an increase in costs to create, produce and acquire content, specifically costs associated with sports related programming initiatives, such as the NFL, NBA and college sports, and new branded music and talk channels such as Maxim Radio, Faction and Shade 45.
Sales and marketing expenses increased by $11.0 million, to $36.7 million for the first quarter of 2005, from $25.7 million for the year-ago first quarter. The increase in sales and marketing expenses was primarily a result of higher sponsorship and event marketing costs, increased OEM revenue share as a result of the increase in OEM net subscriber additions, higher distribution costs to support the expansion of our retail distribution channel, and personnel-related costs to support the continued growth of the company.
Finally, the company incurred increases in customer service and billing expenses, general and administrative expenses, and engineering, design and development expenses. Customer service and billing expenses increased by $5.6 million, to $9.5 million for the first quarter of 2005, from $3.9 million for the first quarter of 2004. This increase was a direct result of growth in the company's subscriber base and additional costs associated with its new billing system. General and administrative expenses increased by $6.9 million, to $14.8 million for the first quarter of 2005, from $7.9 million for the first quarter of 2004, primarily as a result of overhead expansion to support the continued growth of the business. Engineering, design and development expenses increased by $4.1 million, to $9.8 million for the first quarter of 2005, from $5.7 million for the first quarter of 2004, primarily the result of additional personnel-related costs to support research and development
efforts and costs associated with tooling and manufacturing upgrades at DaimlerChrysler and Ford in preparation for SIRIUS factory installations.
SIRIUS reported a net loss of ($193.6) million, or ($0.15) per share, for the first quarter of 2005 compared with a net loss of ($144.1) million, or ($0.12) per share, for the first quarter of 2004.
(Selected financial information follows).
SIRIUS defines adjusted loss from operations as GAAP loss from operations before depreciation and equity granted to third parties and employees. SIRIUS believes adjusted loss from operations is useful to investors because it represents operating expenses of the company excluding the effects of non-cash items.
SIRIUS defines average monthly revenue per subscriber, or ARPU, as the total earned subscriber revenue and net advertising revenue over the daily weighted average number of subscribers for the period.
SIRIUS defines subscriber acquisition costs, or SAC, per gross subscriber addition as SAC and the negative margin from the direct sale of SIRIUS radios and accessories over the number of gross subscriber additions for the period.
Adjusted loss from operations, ARPU and SAC per gross subscriber addition are not measures of financial performance under U.S. generally accepted accounting principles and are used as measures of operating performance. As a result, these metrics may be susceptible to varying calculations; may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. generally accepted accounting principles.
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.
Sirius Satellite Radio Inc.
Quarterly Data
(Unaudited)
As of
3/31/05 3/31/04
Subscribers:
Beginning subscribers 1,143,258 261,061
Net additions 305,437 90,602
Ending subscribers 1,448,695 351,663
Retail 971,241 263,164
OEM and special markets 449,896 63,493
Hertz 27,558 25,006
For the Three Months Ended
3/31/05 3/31/04
Gross subscriber additions 354,708 108,732
Deactivated subscribers 49,271 18,130
Average monthly churn (1) 1.3% 2.0%
Subscriber acquisition costs per gross subscriber addition $
190
$
248
Monthly ARPU:
Average monthly subscriber revenue per subscriber before effects of Hertz subscribers and mail-in rebates $
10.64
$
11.68
Effects of Hertz subscribers 0.01 (0.62)
Effects of mail-in rebates (0.06) (1.14)
Average monthly subscriber revenue per subscriber $
10.59
$
9.92
Average monthly net advertising revenue per subscriber 0.13 0.02
ARPU $ 10.72 $ 9.94
(1) Average monthly churn is the number of deactivated subscribers divided by average quarterly subscribers.
Sirius Satellite Radio Inc.
Financial Highlights
(In thousands, except per share data)
(Unaudited)
For the Three Months
Ended March 31,
2005 2004
Revenue:
Subscriber revenue, including effects of mail-in rebates $ 41,904 $ 9,202
Advertising revenue, net of agency fees 534 20
Equipment revenue 767 50
Other revenue 11 19
Total revenue 43,216 9,291
Operating expenses:
Cost of services (excludes depreciation shown separately below):
Satellite and transmission 6,813 8,412
Programming and content 24,488 8,690
Customer service and billing 9,492 3,860
Cost of equipment 976 64
Sales and marketing 36,732 25,682
Subscriber acquisition costs 67,093 26,981
General and administrative 14,832 7,869
Engineering, design and development 9,842 5,729
Depreciation 24,501 23,688
Equity granted to third parties and employees (1) 38,706 17,824
Total operating expenses 233,475 128,799
Loss from operations (190,259 ) (119,508 )
Other income (expense):
Interest and investment income 4,487 1,669
Interest expense (7,325 ) (23,699 )
Other income 45 —
Total other income (expense) (2,793 ) (22,030 )
Loss before income taxes (193,052 ) (141,538 )
Income tax expense (560 ) (2,521 )
Net loss $ (193,612 ) $ (144,059 )
Net loss per share (basic and diluted) $ (0.15 ) $ (0.12 )
Weighted average common shares outstanding (basic and diluted) 1,314,312 1,217,608
(1) Allocation of equity granted to third parties and employees to other operating expenses:
Satellite and transmission $ 559 $ 490
Programming and content 4,907 1,831
Customer service and billing 139 86
Sales and marketing 13,411 12,003
Subscriber acquisition costs 6,228 102
General and administrative 7,277 2,349
Engineering, design and development 6,185 963
Total equity granted to third parties and employees $ 38,706 $ 17,824
Sirius Satellite Radio Inc.
Financial Highlights
(In thousands)
(Unaudited)
Selected balance sheet data as of:
March 31, 2005 December 31, 2004
Cash, cash equivalents and marketable securities $ 629,826 $ 759,168
Restricted investments 103,612 97,321
Working capital 411,910 541,526
Total assets 1,814,229 1,957,613
Long-term debt 656,318 656,274
Total liabilities 966,060 956,980
Accumulated deficit (2,059,468) (1,865,856)
Stockholders’ equity 848,169 1,000,633
The following table reconciles GAAP loss from operations, as reported, to adjusted loss from operations:
For the Three Months Ended
March 31,
2005 2004
GAAP loss from operations, as reported $ (190,259) $ (119,508)
Depreciation 24,501 23,688
Equity granted to third parties and employees 38,706 17,824
Adjusted loss from operations $ (127,052) $ (77,996)
Sirius Satellite Radio Inc.
Financial Highlights
(In thousands)
(Unaudited)
For the Three Months Ended
March 31,
2005 2004
Cash flows from operating activities:
Net loss $ (193,612 ) $ (144,059 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation 24,501 23,688
Non-cash interest expense 762 20,022
Loss on disposal of assets 127 19
Equity granted to third parties and employees 38,706 17,824
Deferred income taxes 560 2,521
Changes in operating assets and liabilities:
Marketable securities 16 (92 )
Prepaid expenses and other current assets (2,105 ) (4,695 )
Other long-term assets (1,157 ) (968 )
Accrued interest 2,736 3,744
Accounts payable and accrued expenses (5,838 ) 2,621
Deferred revenue 19,660 8,495
Other long-term liabilities (1,524 ) (991 )
Net cash used in operating activities (117,168 ) (71,871 )
Cash flows from investing activities:
Additions to property and equipment (6,888 ) (2,950 )
Sale of property and equipment 12 28
Purchases of restricted investments (6,291 ) (85,000 )
Maturities of available-for-sale securities 4,835 25,000
Net cash used in investing activities (8,332 ) (62,922 )
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net — 293,600
Proceeds from exercise of stock options 993 1,453
Proceeds from exercise of warrants — 19,850
Other (8 ) (33 )
Net cash provided by financing activities 985 314,870
Net (decrease) increase in cash and cash equivalents (124,515 ) 180,077
Cash and cash equivalents at the beginning of period 753,891 520,979
Cash and cash equivalents at the end of period $ 629,376 $ 701,056
E-SIRI
Contacts for SIRIUS:
Jim Collins
Media
212-901-6422
jcollins@siriusradio.com
Michelle McKinnon
Analysts
212-584-5285
mmckinnon@siriusradio.com
Jaymie VanValkenburgh
Investors
212-584-5158
jvanvalkenburgh@siriusradio.com
###
SIRIUS SATELLITE RADIO TO ANNOUNCE FIRST QUARTER 2005 FINANCIAL AND OPERATING RESULTS ON APRIL 28
Company to Webcast Earnings Call for Investors and Media
NEW YORK - April 19, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it plans to release first quarter 2005 financial and operating results on April 28.
SIRIUS also plans to hold a conference call at 8:00 am ET to discuss these results. Investors and the press can listen to the conference call via the company's website, www.sirius.com, and on its satellite radio service by tuning to SIRIUS Channel 131.
A replay of the call will be available on the company's website.
About SIRIUS
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, Volvo and Volkswagen. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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.
Contacts:
Jim Collins
Media
212-901-6422
jcollins@siriusradio.com
Michelle McKinnon
Investor Relations
212-584-5285
mmckinnon@siriusradio.com
Jaymie VanValkenburgh
Investor Relations
212-584-5158
jvanvalkenburgh@siriusradio.com
SIRIUS SATELLITE RADIO TO PRESENT AT THE A.G. EDWARDS 2005 MEDIA & ENTERTAINMENT CONFERENCE
NEW YORK - April 15, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that Andrew Gregor, its VP of Business Development / Treasurer, is expected to present at the A.G. Edwards Media & Entertainment Conference on Tuesday, April 19, 2005 at 9:45 a.m. PDT (12:45 p.m. EST).
A live audio webcast of the presentation will be available via the Investor Relations section of the Company's website sirius.com on Tuesday, April 19, 2005 at 9:45 a.m. PDT (12:45 p.m. EST).
About SIRIUS
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 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.
Media Contact:
Jim Collins
VP, Corporate Communications
SIRIUS
212.901.6422
jcollins@siriusradio.com
SIRIUS SATELLITE RADIO'S PROGRAMMING RECEIVES TOP HONORS FROM THREE MAJOR MAGAZINES
SIRIUS Recognized by Men's Fitness, New York and Cargo as Having the Best Programming in Satellite Radio
NEW YORK - April 15, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it has been selected as having the best programming in satellite radio by three top-tier publications: Men's Fitness, New York and Cargo.
In the May issue of Men's Fitness, SIRIUS was selected as the overall winner in a head-to-head competition and proclaimed "the shining star" in satellite radio. SIRIUS was also named the leader in four key categories including hardware selection, exclusive sports coverage, big-name talent and programming. For the programming category in satellite radio, Men's Fitness proclaimed, "SIRIUS is the hands-down winner, with a better mix of music, talk, and sports."
In an article in New York's April 11 issue entitled, "The Well-Wired Home," the magazine advised, "Most of you will want to choose SIRIUS...the programming is superior."
"SIRIUS is dedicated to delivering the best programming in satellite radio, and the recent reviews by these highly respected magazines are very gratifying," said Scott Greenstein, SIRIUS President of Entertainment and Sports. "We believe that creative and innovative programming is what sets SIRIUS apart from the competition, and we will continue to bring the best music, news, information, sports, talk and entertainment to our growing number of listeners across the country."
In addition, Cargo Magazine compared the satellite radio providers in its May issue and gave SIRIUS an "A" for content in its report card of satellite services - the only "A" given in the "Final Grades." Cargo wrote, "Music lovers will appreciate the huge diversity on the dial. Extra credit for signing high-profile contracts with the NFL, Eminem, and Howard Stern, thus ensuring that fans will have exactly what they're looking for."
SIRIUS radios for the car and home are available at electronics and general merchandise stores around the country. For more information, go to www.sirius.com.
About SIRIUS
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 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.
Media Contact:
Jim Collins
VP, Corporate Communications
SIRIUS
212.901.6422
jcollins@siriusradio.com
Elise Brown
Senior Manager, Public Relations
SIRIUS
212.584.5290
ebrown@siriusradio.com
Investor Relations:
Jaymie VanValkenburgh
Associate Manager, Investor Relations
SIRIUS
212.584.5158
jvanvalkenburgh@siriusradio.com
SIRIUS SATELLITE RADIO TO LAUNCH WEEKLY TALK SHOW CREATED AND HOSTED BY FORMER SENATOR BILL BRADLEY
"American Voices" will Debut on SIRIUS Satellite Radio in May
NEW YORK - April 13, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that former U.S. Senator Bill Bradley will be the host and creator of American Voices, a weekly talk show that will feature varied stories, personalities and opinions from a broad cross section of America and the world. The show launches in May on SIRIUS Talk Central, channel 148.
Having traveled the country extensively for over forty years as a professional basketball player, U.S. Senator, and former Presidential candidate, Bradley plans to have guests on his show as varied as the ones he has met on the road. From athletes and writers to entrepreneurs and community leaders, Bradley's show will reflect the wide spectrum of people, places, and politics that make up the American landscape.
Bradley says, "I will not just be interviewing my guests...I will be having a conversation with them about their lives. The show will strive for a balance between the predictable and the unexpected." Bradley is quick to explain that the show is non-partisan. "American Voices will focus on the common humanity of our citizens and will recognize those extraordinary individuals who make a difference in their communities."
A native of Crystal City, Missouri, Bradley graduated from Princeton University and Oxford University, which he attended as a Rhodes Scholar. He also won a gold medal with the U.S Olympic basketball team in 1964. After graduation, Bradley played ten years with the New York Knicks, during which time the team won two NBA championships in 1970 and 1973. He was inducted into the Basketball Hall of Fame in 1982.
Bradley served in the U.S Senate from New Jersey from 1979 to 1997, where he focused on issues such as tax reform, international trade and race relations. He opted not to run for a fourth term in 1996 but returned to the political arena in 2000 when he ran for the Democratic nomination for President.
Bradley currently serves as a Managing Director at Allen & Company. He is also an accomplished author and has written five books including the New York Times best-sellers Time Present, Time Past: A Memoir and Values of the Game.
"Bill Bradley is a unique icon on the American landscape. He holds a wide-ranging perspective of America, all learned through first-hand experience," says Scott Greenstein, SIRIUS President of Entertainment and Sports. "This time he offers America, through SIRIUS, an oasis on radio to talk about the vital and compelling parts of America and to bring listeners insight into the issues of life today."
"For me, radio is a way of connecting with people," says Bradley. "I look forward to hearing and sharing some great stories."
About SIRIUS
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 www.sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.
P-SIRI
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.
Media Contact:
Liz Berger
SIRIUS
212.901.6726
lberger@siriusradio.com
Are these guys still in business?
SIRIUS SATELLITE RADIO TO OFFER $250 MILLION OF SENIOR NOTES DUE 2015
SIRIUS to Access Favorable Debt Markets for Opportunistic Financing
Net Proceeds to be Used to Redeem Outstanding Higher Interest Rate Notes and for General Corporate Purposes
NEW YORK -- March 22, 2005 -- SIRIUS Satellite Radio (NASDAQ:SIRI) today announced the offering of $250 million in aggregate principal amount of Senior Notes due 2015 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S under the Securities Act. The notes will be senior obligations of SIRIUS.
Based upon its current plans, before giving effect to the proceeds of the offering, SIRIUS has sufficient cash on hand to cover its estimated funding needs through cash flow breakeven, the point at which the company's revenues are sufficient to fund expected operating expenses, capital expenditures, working capital requirements, interest and principal payments, and taxes. SIRIUS expects cash flow breakeven to occur in 2007.
SIRIUS intends to use approximately $63.1 million of the net proceeds from the offering to redeem all of its outstanding 15% Senior Secured Discount Notes due 2007 and 141/2% Senior Secured Notes due 2009. The balance of the net proceeds will be used to pay the expenses of the offering and for general corporate purposes.
The securities have not been registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
This announcement is neither an offer to sell nor a solicitation to buy any of these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
About SIRIUS
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 www.SIRIUS.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area. The information contained on our website is neither an offer to sell nor a solicitation to buy any of these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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.
G-SIRI
Media Contacts:
Jim Collins
SIRIUS Media
212.901.6422
jcollins@siriusradio.com
Michelle McKinnon
SIRIUS Investors
212.584.5285
mmckinnon@siriusradio.com
Mitsubishi Motors North America Enters Into Agreement With SIRIUS Satellite Radio
Monday March 7, 8:01 am ET
- SIRIUS First Available as Factory Installed Equipment on All-New 2006 Raider
NEW YORK and CYPRESS, Calif., March 7 /PRNewswire-FirstCall/ -- Mitsubishi Motors North America today announced an exclusive agreement with SIRIUS Satellite Radio (Nasdaq: SIRI - News) to offer satellite radio as a factory-installed option in various Mitsubishi models.
The first SIRIUS factory-installed option will appear in the 2006 Mitsubishi Raider. The midsize truck, which was recently unveiled at the North American International Auto Show in Detroit, will be available in dealer showrooms in the fall of 2005.
"Mitsubishi Motors is pleased to offer premium satellite radio programming from SIRIUS first on the all-new Raider, one of our flagship vehicles," said David Schembri, Executive Vice President of Sales and Marketing. "As part of our dedication to developing vehicles that are fun to drive, we are committed to making this unparalleled entertainment experience available across the Mitsubishi product line."
SIRIUS will come standard with the Mitsubishi Motors' Premium Audio System package. All 2006 and 2007 model year SIRIUS-equipped vehicles will include a six-month, pre-paid subscription service and free activation.
Mitsubishi drivers will be able to enjoy more than 120 channels of digital-quality programming including 65 channels of commercial-free music, plus more than 55 channels of news, weather, traffic, information, comedy entertainment and sports, such as the entire NFL live "play-by-play" game lineup; NBA games and college sports from the top schools in the country.
"Mitsubishi buyers can look forward to the exciting opportunity of outfitting their vehicles with the best in satellite radio programming from SIRIUS," said Doug Wilsterman, Senior Vice President and General Manager OEM Division for SIRIUS. "SIRIUS will make the Mitsubishi driving experience all that more pleasurable."
Following the 2006 Raider, Mitsubishi Motors plans to offer SIRIUS as a factory installed option in three additional models for the 2007 model year.
About Mitsubishi Motors North America
Mitsubishi Motors North America, Inc., (MMNA) is responsible for all manufacturing, finance, sales, marketing, research and development operations of Mitsubishi Motors Corporation in the United States and Canada. Mitsubishi Motors sells coupes, convertibles, sedans and sport utility vehicles through a network of approximately 625 dealers. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit http://media.mitsubishicars.com.
About SIRIUS
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®, Lincoln-Mercury, Lexus, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Scion, Toyota, 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, 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.
Source: SIRIUS
Volvo Now Offering SIRIUS Satellite Radio
Tuesday March 1, 8:01 am ET
NEW YORK, March 1 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (Nasdaq: SIRI - News) today announced that SIRIUS is now available as an exclusive dealer-installed accessory in the following 2005 model year Volvo vehicles.
-- Volvo S80
-- Volvo S60
-- Volvo V70
-- Volvo XC70
These Volvo vehicles come with factory-equipped radios that are SIRIUS-ready, and display artist, song title and category when playing SIRIUS. To facilitate dealer installations, Volvo also offers a pre-wire solution as a factory installed option. To obtain SIRIUS service, the dealer must install a SIRIUS receiver and antenna. Pricing is available at local Volvo dealerships.
"We are very pleased to be offering SIRIUS to Volvo owners," said Doug Wilsterman, Senior Vice President of Automotive OEM for SIRIUS. "Volvo's reputation for quality is well known and complements the quality programming that SIRIUS offers. Combining the two makes the Volvo driving experience even better."
"SIRIUS Satellite Radio is a leading-edge entertainment company that is rapidly gaining in popularity," said Chris Dauerer, Vice President of Customer Service for Volvo Cars of North America. "Volvo prides itself in always staying a step ahead in enhancing the safety and driving pleasure of Volvo buyers, so it's only logical that we provide our customers with the very best in-vehicle entertainment available."
SIRIUS offers Volvo drivers over 120 channels of the best programming available, including 65 channels of 100% commercial-free music, and over 55 channels of news, sports, weather, traffic information, original entertainment and call-in talk shows, all for $12.95 a month, with no added premiums, and discounts for advance payments of one-year or more.
When customers purchase the Volvo SIRIUS Satellite Radio kit, have it installed, and pre-pay $142.45 for 11-months of service at $12.95 per month, they will automatically receive 13 months of SIRIUS service, or two additional months at no extra cost. Plus, for a limited time only, Volvo will reimburse customers for the full cost of the subscription. This offer applies to Volvo SIRIUS Satellite Radio kits purchased from March 1 to May 31 of this year.
SIRIUS is also expected to be available in additional Volvo vehicles in the near future.
About SIRIUS
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, Lexus, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Scion, Toyota, 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, 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.
Source: SIRIUS Satellite Radio
Volvo Now Offering SIRIUS Satellite Radio
Tuesday March 1, 8:02 AM EST
NEW YORK, March 1, 2005 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI) today announced that SIRIUS is now available as an exclusive dealer-installed accessory in the following 2005 model year Volvo vehicles.
-- Volvo S80
-- Volvo S60
-- Volvo V70
-- Volvo XC70
MEL KARMAZIN, CEO OF SIRIUS SATELLITE RADIO, TO PRESENT AT THE BEAR STEARNS 18TH ANNUAL MEDIA CONFERENCE
NEW YORK - February 25, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that Mel Karmazin, its Chief Executive Officer, will give the keynote breakfast presentation at the Bear Stearns 18th Annual Media Conference on Wednesday, March 2, 2005 at 8:00 am ET.
A live audio webcast of the presentation will be available via the Investor Relations section of the Company's website www.sirius.com on Wednesday, March 2, 2005 at
8:00 am ET.
About SIRIUS
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, 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, Lexus, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Scion, Toyota, Volkswagen and Volvo. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
Media Contact:
Jim Collins
SIRIUS
212.901.6422
jcollins@siriusradio.com
Michelle McKinnon
SIRIUS Investors
212.584.5285
mmckinnon@siriusradio.com
50 Cent to Join Eminem on SIRIUS Satellite Radio's Shade 45 Channel
Thursday February 24, 8:00 AM EST
NEW YORK, Feb 24, 2005 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI) announced today that multi-platinum artist 50 Cent will create and host exclusive programming on Shade 45, the new uncensored hip-hop radio channel co-produced by SIRIUS and Eminem.
50 Cent will oversee G Unit Radio, which will take over Shade 45 all day on Saturdays with an innovative mix of shows and DJs produced by his own DJ, Whoo Kid.
"I'm bringing my A-game to SIRIUS," said 50 Cent. "G Unit Radio is gonna blow up on Shade 45."
"Eminem and 50 Cent are two of the biggest names in hip-hop today" said SIRIUS President of Sports and Entertainment Scott Greenstein. "On Shade 45, 50 Cent will bring G Unit's world to SIRIUS listeners."
SIRIUS launched Shade 45, the uncensored, commercial-free hip-hop music channel created by Eminem, Shady Records, Interscope Records and SIRIUS in October 2004. The channel also features other high profile figures in the world of hip-hop, including Eminem's own DJ Green Lantern and Radio/Mixshow DJ of the Year Clinton Sparks. The channel also regularly features celebrity guests.
50 Cent, one of the most notorious figures in rap music, is also one of its most successful. His 2003 debut album, Get Rich or Die Tryin', has sold more than 11 million copies. He has launched a successful G Unit clothing and footwear line, and can also be seen in an upcoming Jim Sheridan film, which is reported to be a semi-autobiographical film based on his ascension from drug dealer to superstar.
50 Cent's first radio show on SIRIUS, The Personal Preview Special, will showcase songs and exclusive commentary from his new album The Massacre, due out on March 3rd. The show will be co-hosted by Whoo Kid and will air tomorrow, Friday February 25th at 8 p.m. EST, only on Shade 45.
About SIRIUS
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, 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, Lexus, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Scion, Toyota, 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, 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.
SOURCE SIRIUS Satellite Radio
CONTACT: Andrea Ferguson, Dan Klores Communications, +1-212-981-5242,
andrea_ferguson@dkcnews.com, for SIRIUS Satellite Radio
Welcome back!
This was on the NASCAR website this morning (2/23/05)
Sirius signs five-year deal for NASCAR satellite radio rights
From Press Release
February 22, 2005
02:05 PM EST (19:05 GMT)
DAYTONA BEACH, Fla. -- Sirius Satellite Radio on Tuesday announced a five-year agreement to give Sirius North American satellite radio rights to broadcast NASCAR racing and events that will bring unprecedented programming and marketing opportunities to NASCAR fans.
Beginning in 2007, Sirius will broadcast all Nextel Cup Series, Busch Series and Craftsman Truck Series races live on a specially created, 24/7 NASCAR channel, and Sirius will be the only place on satellite radio to listen to NASCAR.
As part of the agreement, Sirius will become the Official Satellite Radio Partner of NASCAR, with exclusive trademark and marketing rights, and the right to sell all advertising time on its NASCAR channel and during the race broadcasts. Sirius will pay NASCAR rights fees totaling $107.5 million over the term of the agreement, with the highest payments in the final years of the term.
"We're thrilled that NASCAR has chosen to move to Sirius," said Mel Karmazin, CEO of Sirius. "Without question, Sirius is the content leader in satellite radio. This decision places Sirius on track to become the content leader in all of radio, and we believe it will be an important driver of subscriber growth and advertising revenue.
"Our 24/7 NASCAR channel will super-serve NASCAR's 75 million fans nationwide in a way that's never been done before. In addition to the races, Sirius will take fans behind the scenes for inside news and bring them exclusive shows featuring their favorite drivers. It will be the ultimate NASCAR lifestyle experience."
"Sirius is the sports leader on satellite radio, and sports programming is a leading reason subscribers choose Sirius," said Brian France, Chairman and CEO of NASCAR. "When you combine NASCAR's growing popularity with Sirius' commitment to bringing the best in sports to its subscribers, it's easy to understand why we made this move. We believe that our partnership with Sirius will offer the best possible experience to NASCAR fans nationwide."
Sirius and NASCAR will work together to develop an extensive consumer marketing and outreach campaign for NASCAR fans. This effort could include advertising, cross-channel promotion throughout Sirius programming, officially licensed products, extensive at-track activation and ways for current NASCAR fans to switch to Sirius.
NASCAR is the No. 2-rated sport on television, second only to the NFL. Its 75 million fans nationwide are a testament to the sport's overall growth and broad appeal. NASCAR has the most brand loyal fans in all sports. Plus, with a 10-month season, the longest in U.S. pro sports, sponsors and advertisers are visible to NASCAR's fan base for most of the year.
"This agreement with NASCAR clearly reinforces Sirius' leadership position in sports programming," said Scott Greenstein, Sirius President of Entertainment and Sports. "With NASCAR, we will be able to develop endless creative programming and marketing opportunities, as we have with our Sirius NFL Radio channel, to benefit NASCAR fans and Sirius subscribers throughout the country."
"NASCAR and Sirius share a vision and passion for the future, and today's announcement sets the stage for a very unique partnership within our industry," said NASCAR Digital Entertainment President Paul Brooks. "For the first time ever, NASCAR is combining a national programming and content partnership with multi-channel branding opportunities and a major national marketing commitment.
"This is a new type of national media partnership that will have the resources to build amazing content every day from our drivers, teams, events and industry, and package that together with the NASCAR brand like never before to reach NASCAR fans and new audiences."
Sirius Gets Nascar Broadcast Rights
Wednesday February 23, 7:53 am ET
Sirius Satellite Radio to Broadcast NASCAR Races and Events Live Starting in 2007
NEW YORK (AP) -- In the latest push to ramp up its programming slate, Sirius Satellite Radio Inc. announced Tuesday that it had reached an agreement to broadcast NASCAR races and related events over a five-year period beginning in 2007 for $107.5 million, luring the broadcast rights away from rival XM Satellite Radio Holdings Inc.
The deal calls for Sirius to become the exclusive satellite radio partner for NASCAR, a fast-growing sport with millions of fans across the country. The agreement was a coup for Sirius, the smaller of the two satellite radio providers.
Both Sirius and XM have been committing large sums of money to lock in programming as part of their drive to build up their businesses and attract customers. A spokesman for XM declined to say how much the company was paying NASCAR under its current arrangement, which goes through the end of the 2006 season.
Last fall Sirius announced that it had entered a five-year, $500 million deal to broadcast Howard Stern's show beginning in 2006, when his contract with Infinity Broadcasting, a division of Viacom Inc., ends. XM also signed up Major League Baseball to its service last fall.
Sirius reported last month that it ended 2004 with more than 1.1 million subscribers and expected to finish 2005 with more than 2.5 million. XM, which is based in Washington, D.C., reported that it had more than 3.2 million users as of the end of 2004.
Sirius' shares were already trading lower Tuesday after news came out over the weekend that a regular host on Stern's show had received a subpoena from the Securities and Exchange Commission regarding the trading of Sirius stock. Sirius says it doesn't believe the probe has anything to do with its own company, and it hasn't received any subpoena.
Sirius's stock fell 31 cents, or 5.3 percent, to close at $5.56 in Tuesday trading on the Nasdaq Stock Market, amid a generally declining market. XM's shares lost 90 cents, or 2.8 percent, to close at $31.72, also on the Nasdaq.
SIRIUS Satellite Radio and L'Oreal Paris to Sponsor Music Industry's Hottest Grammy Event!
Monday February 7, 11:13 am ET
SIRIUS and L'Oreal Paris Partner with Clive Davis' Legendary Pre-Grammy Party February 12th
RealNetworks to Broadcast Event Live on the Web
NEW YORK, Feb. 7 /PRNewswire/ -- SIRIUS Satellite Radio and L'Oreal Paris, the worldwide leader in beauty with an unparalleled commitment to technology, research and innovation, announced they have signed on as sponsors of Clive Davis' legendary Pre-Grammy Party. RealNetworks(R), the leading creator of digital media services and software will serve as the online partner for the event and will broadcast the evening's performances live on the web. SIRIUS will air portions of the behind the scenes action from the red carpet and performances from the evening on its various channels in the future.
This annual event, which occurs on the eve of the Grammy Awards, long-ago established itself as the destination for A-list celebrities, Grammy winners, Hollywood stars, sports legends, authors and influential entertainment industry executives. The evening consists of cocktails, a sit-down dinner and performances from some of the biggest names in music.
"SIRIUS is about delivering to listeners music they love and can't live without, and so it is with pride that SIRIUS joins with the man who has for years consistently delivered music the world loves to hear," said Mary Pat Ryan, Executive Vice President of Marketing, SIRIUS. "We admire the commercial and critical success Clive has earned, but we are also inspired by his diligent and careful work with an array of artists."
"The music world is a great source of inspiration for L'Oreal Paris," says Carol Hamilton, President and General Manager, L'Oreal Paris "As a sponsor of this legendary event, we're thrilled to continue our tradition of working with extraordinary talent."
"We strive to bring the best in entertainment to our users and providing fans exclusive access to Clive Davis' legendary Pre-Grammy Party is no exception," said Rob Glaser, chief executive officer, RealNetworks. "We are excited to be part of such an extraordinary evening of music and think our users will be too."
Tom Corson, EVP GM Arista/J Records said, "We're delighted SIRIUS and L'Oreal Paris are partnering with us this year for one of the entertainment industry's biggest events. SIRIUS was a joy to work with last year. Their quality service will again make the evening memorable for listeners around the country. We are thrilled to be joined by our new partner L'Oreal Paris, a name that epitomizes glamour and beauty. We're pleased Real Networks is bringing their leadership and expertise to our webcast."
In recent years, performers at Clive Davis' legendary Pre-Grammy Party have included Whitney Houston, Alicia Keys, Maroon5, Foo Fighters, Annie Lennox, Stevie Wonder and Luther Vandross, Jamie Foxx, Kanye West, Usher, Carlos Santana and Wyclef Jean, P. Diddy, Patti LaBelle, Tony Bennett, Rod Stewart, Justin Timberlake, Earth Wind and Fire, among others.
Attendees have included Jennifer Lopez, Prince, Sidney Poitier, Jessica Simpson and Nick Lachey, Chris Rock, Mary J. Blige, Antonio Banderas, Jackie Collins, Mariah Carey, Jerry Seinfeld, Magic Johnson, Britney Spears, Martha Stewart, Quincy Jones, Howard Stern, Penny Marshall, Evander Holyfield and more.
This year's performance lineup is kept secret until the night of the show. The event happens at the legendary Beverly Hills hotel.
RealNetworks will broadcast these Pre-Grammy Party performances and exclusive artist interviews live on the web via http://www.real.com/grammys.
About SIRIUS
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, 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*, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. 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 a car dealer in your area.
About L'Oreal Paris
The L'Oreal Paris Brand Division of L'Oreal USA, Inc. is a total beauty care company with well-known products for the entire family, including Couleur Experte, Preference, Excellence Creme, Feria, and ColorSpa Moisture Actif haircolors; Studio Line styling products, the VIVE line of shampoos and conditioners, the L'Oreal Kids grooming line, Dermo-Expertise skincare, Body Expertise body care line, and L'Oreal Color Cosmetics.
About RealNetworks
RealNetworks, Inc. is the leading creator of digital media services and software including the award-winning Rhapsody(R) Internet jukebox service and RealPlayer 10, the first product to integrate finding, organizing, buying, playing and managing digital audio and video in a single product. Consumers can access and experience audio/video programming and download RealNetworks' consumer software at http://www.real.com . Broadcasters, network operators, media companies and enterprises use RealNetworks' products and services to create and deliver digital media to PCs, mobile phones and consumer electronics devices. RealNetworks' corporate information is located at http://www.realnetworks.com .
About RCA Music Group
The RCA Music Group, which includes J Records, RCA Records and Arista Records, is a BMG-owned label group. The J Records roster is home to platinum superstars Alicia Keys, Rod Stewart, Annie Lennox, Luther Vandross, Ruben Studdard, Maroon5, Cassidy and Monica among others. RCA Records is home to superstar artists Christina Aguilera, Dave Matthews Band, Foo Fighters,The Strokes, Velvet Revolver, Clay Aiken, Kelly Clarkson, Heather Headley and more. The Arista Records family includes all-time superstars Sarah McLachlan, Santana, Dido, Aretha Franklin, Whitney Houston, Babyface and Kenny G.
Source: RCA Music Group
Sirius Satellite to broadcast Super Bowl, NFL shows
9:55:20 AM ET 2/3/2005
SAN FRANCISCO (MarketWatch) -- Sirius Satellite Radio (SIRI) said Thursday that it will broadcast the Super Bowl in five languages on Sunday. The New York-based company said that in addition to its live Super Bowl coverage it will also air special National Football League programs in the days leading up to the game. Sirius also said that its NFL Radio will be streamed live on the NFL's Web site this week.
I don't really know. I am long so I don't worry about the daily swings.
SIRIUS Satellite Radio Announces Fourth Quarter and Year-End 2004 Financial and Operating Results
Wednesday January 26, 7:01 AM EST
NEW YORK, Jan 26, 2005 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI) today announced strong fourth quarter and year-end 2004 financial and operating results, driven by better-than-expected subscriber growth.
On December 31, 2004, SIRIUS had 1,143,258 subscribers, beating its year-end target of 1 million, and had over 1.24 million subscribers as of January 24, 2005. The company attributed much of the better-than-expected year-end number to robust holiday sales and an increase in its automotive channel business, driving revenue to $66.9 million, a 419% increase over the previous year.
As a result of a strong start to 2005, the company is raising its 2005 year-end subscriber estimate to over 2.5 million.
The fourth quarter subscriber figure reflects net additions of 480,969 subscribers, a 332% increase from net additions in the fourth quarter of 2003. SIRIUS had 521,479 gross subscriber additions in the fourth quarter of 2004, and reported average monthly churn of 1.6% for the full year 2004, the company's best-reported churn rate to date and below previous guidance. The company reported subscriber acquisition costs (SAC) per gross subscriber addition of $177 for the full year 2004, a significant improvement over $293 for 2003 and well inside 2004 guidance of below $200.
In the fourth quarter of 2004, SIRIUS continued to experience significant gains in the retail market, fueled by strong holiday sales of its products, broader distribution -- including over 25,000 sales outlets -- and growing consumer awareness of its brand, plus an increased preference for its superior programming. According to The NPD Group, SIRIUS' retail market share reached 51% in November 2004, SIRIUS' highest level on record.
During the fourth quarter of 2004, SIRIUS added 348,711 subscribers from its retail channel, a 302% increase from retail additions in the year ago quarter. The company also added 130,881 net subscribers from its automotive, trucking and boating relationships, a 444% increase in net additions from those channels in the year ago quarter.
SIRIUS' exclusive automotive partners, DaimlerChrysler and BMW, continue to roll out factory installation programs for SIRIUS Satellite Radio.
Ford recently announced that it plans to include SIRIUS as a factory option in up to 21 models, and expects to generate up to one million SIRIUS subscribers over the next two model years -- 2006 and 2007.
In December 2004, DaimlerChrysler announced that its factory installations of SIRIUS were on track to produce an estimated 550,000 subscribers over the 2005 and 2006 model years.
"2004 was a turning point for SIRIUS, and a strong indicator of what we believe the future holds for a new entertainment category still in its early days," said Mel Karmazin, CEO of SIRIUS. "Not only did we greatly exceed our estimated subscriber target for the year, but we also beat estimates in subscriber acquisition costs and monthly churn. The fourth quarter produced blow-out sales, heavily fueled by the holidays, and solid numbers in our automotive channel, which we believe will be a major contributor to our subscriber growth in 2005. Our strong start this year, along with an expanding slate of compelling programming, the introduction of third generation products later this year, and the anticipated arrival of Howard Stern next January, all contribute to our enthusiasm for the growth prospects of SIRIUS."
Guidance for 2005:
In view of a strong start to 2005, SIRIUS is raising guidance for 2005 net subscriber additions to 1.4 million, implying a year-end 2005 subscriber target of over 2.5 million, up from approximately 2.3 million year-end 2005 subscribers suggested by previous guidance. Estimated average monthly churn is expected to be in the range of 1.6% to 1.7% during 2005. SAC per gross subscriber addition should also drop to below $145 for the year, with further declines expected in 2006.
SIRIUS expects to generate approximately $210 million of total revenue in 2005. The company expects to generate an adjusted loss from operations of approximately $(480) million in 2005. Total operating cash uses, capital expenditures and purchases of restricted investments, are expected to be approximately $(350) million in 2005, as compared to approximately $(452) million in 2004.
SIRIUS ended 2004 with approximately $759 million in cash, cash equivalents and marketable securities, which it believes is sufficient to reach cash flow breakeven under its current business plan.
Conference Call Information:
SIRIUS will hold a conference call today at 8am ET to discuss operating and financial results. The public, members of the investment community and the press will have live access to the conference call via the company's website http://www.sirius.com and on the SIRIUS service by tuning to SIRIUS Channel [131]. A replay of the call will also be available on the SIRIUS website.
FOURTH QUARTER 2004 VERSUS FOURTH QUARTER 2003
For the fourth quarter of 2004, SIRIUS recognized total revenue of $25.2 million, compared with $5.0 million for the fourth quarter of 2003, a 409% year-over-year increase. This increase in revenue was driven by a net increase in the company's subscriber base of 882,197 subscribers, or 338%, from December 31, 2003 to December 31, 2004.
The company's adjusted loss from operations increased by $63.6 million, to $(155.2) million in 2004 (refer to the reconciliation table of loss from operations to adjusted loss from operations). This increase was driven in part by $37.1 million of increased subscriber acquisition costs, as SIRIUS' gross subscriber additions exceeded last year's fourth quarter gross subscriber additions by nearly 396,000 subscribers.
In addition, programming and content expenses increased by $17.5 million, to $26.0 million for the fourth quarter of 2004, from $8.5 million for the fourth quarter of 2003. The increase in programming and content expenses was primarily attributable to an increase in costs to create, produce and acquire content, specifically costs associated with sports related programming initiatives, such as the NFL.
Sales and marketing expenses also increased by $15.7 million, to $50.7 million for the fourth quarter of 2004, from $35.0 million for the fourth quarter of 2003. The increase in sales and marketing expenses was primarily a result of media advertising during the holiday selling season and personnel-related costs to support the continued growth of the company.
Finally, the company incurred increases in customer service and billing expenses, and general and administrative expenses. Customer service and billing expenses increased by $5.7 million, to $8.6 million for the fourth quarter of 2004, from $2.9 million for the fourth quarter of 2003. This increase was a direct result of the growth of our subscriber base. General and administrative expenses increased by $5.5 million to $13.0 million for the fourth quarter of 2004, from $7.5 million for the fourth quarter of 2003, primarily as a result of overhead expansion to support the continued growth of the business.
SIRIUS reported a net loss applicable to common stockholders of $(261.9) million, or $(0.21) per share, for the fourth quarter of 2004, compared with a net loss applicable to common stockholders of $(147.8) million, or $(0.14) per share, for the fourth quarter of 2003.
YEAR ENDED DECEMBER 31, 2004 VERSUS YEAR ENDED DECEMBER 31, 2003
For 2004, SIRIUS recognized total revenue of $66.9 million, compared with $12.9 million for 2003, a 419% year-over-year increase. This $54.0 million increase in revenue was driven by a net increase in the company's subscriber base of 882,197 subscribers, or 338%, from December 31, 2003 to December 31, 2004.
The company's adjusted loss from operations increased by $126.1 million, to $(456.2) million for 2004 (refer to the reconciliation table of loss from operations to adjusted loss from operations). This increase was driven in part by $98.8 million of increased subscriber acquisition costs, as SIRIUS' gross subscriber additions exceeded last year's additions by over 730,000 subscribers.
In addition, programming and content expenses increased by $33.7 million, to $63.9 million for 2004, from $30.2 million for 2003. The increase in programming and content expenses was primarily attributable to an increase in costs to create, produce and acquire content, specifically costs associated with sports related programming initiatives, such as the NFL.
Sales and marketing expenses also increased by $33.1 million, to $153.9 million for 2004, from $120.8 million for 2003. The increase in sales and marketing expenses was primarily a result of increased media advertising to market the SIRIUS service and the NFL season coverage, costs associated with the expansion of the company's retail distribution channel, including the company's national rollout in RadioShack stores, and personnel-related costs to support the continued growth of the company.
Finally, the company incurred increases in general and administrative expenses, and engineering, design and development expenses. General and administrative expenses increased by $7.8 million, to $44.0 million for 2004, from $36.2 million for 2003, primarily as a result of overhead expansion to support the continued growth of the business, offset in part by a legal settlement in 2003 associated with the termination of a contract with the company's prior subscriber management provider. Engineering, design and development expenses increased $6.0 million, to $30.5 million for 2004, from $24.5 million for 2003. This increase was primarily attributable to additional personnel-related costs to support research and development efforts, and costs associated with tooling and manufacturing upgrades at DaimlerChrysler and Ford in preparation for SIRIUS factory installations, offset in part by reduced chipset development costs.
SIRIUS reported a net loss applicable to common stockholders of $(712.2) million, or $(0.57) per share, for 2004, compared with a net loss applicable to common stockholders of $(314.4) million, or $(0.38) per share, for 2003.
SIRIUS maintains a strong cash position, ending 2004 with $759.2 million in cash, cash equivalents and marketable securities compared to $550.0 million on December 31, 2003. The increase in cash, cash equivalents and marketable securities was primarily a result of offerings of the company's common stock and convertible notes for net proceeds of $614.4 million and the addition of 986,556 gross new subscribers from whom approximately nine months of prepaid revenue was received upon activation. Such increases were offset by cash outflows to fund the company's adjusted loss from operations, capital expenditures and purchases of restricted investments in 2004.
(Selected financial information follows).
SIRIUS defines adjusted loss from operations as loss from operations before depreciation expense and equity granted to third parties and employees. SIRIUS believes adjusted loss from operations is useful to investors because it represents operating expenses of the company excluding the effects of non-cash items.
SIRIUS defines average monthly revenue per subscriber, or ARPU, as the total earned subscription revenue and activation revenue during the period, over the daily weighted average number of subscribers for the period.
SIRIUS defines subscriber acquisition costs, or SAC, as costs of incentives for the purchase, installation, and activation of SIRIUS radios, as well as subsidies paid to radio and chip set manufacturers, automakers and retailers and the negative margin on equipment sales.
Adjusted loss from operations, ARPU and SAC are not measures of financial performance under U.S. generally accepted accounting principles. As a result, these metrics may be susceptible to varying calculations; may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. generally accepted accounting principles.
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 the company's 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 the company's results of operations are: the company's dependence upon third parties to manufacture, distribute, market and sell SIRIUS radios and components for those radios; the unproven market for SIRIUS service; SIRIUS' competitive position; changes to our business plan or strategy and any events which affect the useful life of the company's satellites.
Sirius Satellite Radio Inc.
Quarterly Data
(Unaudited)
As of
12/31/04 9/30/04 6/30/04 3/31/04 12/31/03
Subscribers:
Beginning subscribers 662,289 480,341 351,663 261,061 149,612
Net additions 480,969 181,948 128,678 90,602 111,449
Ending subscribers 1,143,258 662,289 480,341 351,663 261,061
Retail 797,039 448,328 344,349 263,164 197,650
OEM and special markets 317,685 186,804 111,145 63,493 39,400
Hertz 28,534 27,157 24,847 25,006 24,011
For the Three Months Ended
12/31/04 9/30/04 6/30/04 3/31/04 12/31/03
Gross subscriber
additions 521,479 207,181 149,164 108,732 125,898
Deactivated subscribers 40,510 25,233 20,486 18,130 14,449
Average monthly churn (1) 1.5% 1.5% 1.6% 2.0% 2.3%
Subscriber acquisition
costs per gross activation $124 $229 $234 $248 $222
Monthly ARPU:
Average monthly revenue
per subscriber $10.57 $10.92 $11.19 $11.68 $11.99
Effects of Hertz
subscribers (0.05) (0.18) (0.29) (0.62) (1.19)
ARPU before effects of
mail-in rebates $10.52 $10.74 $10.09 $11.06 $10.80
Effects of mail-in
rebates (1.16) (0.05) (0.36) (1.14) (2.21)
Reported ARPU $9.36 $10.69 $10.54 $9.92 $8.59
Average monthly revenue
per Hertz subscriber $9.28 $7.19 $6.50 $5.17 $2.65
For the Year Ended
12/31/04 12/31/03
Gross subscriber additions 986,556 255,798
Deactivated subscribers 104,359 24,684
Average monthly churn (1) 1.6% 1.5%
Subscriber acquisition costs per gross
activation $177 $293
Monthly ARPU:
Average monthly revenue per
subscriber $10.91 $12.02
Effects of Hertz subscribers (0.19) (1.38)
ARPU before effects of mail-in
rebates $10.72 $10.64
Effects of mail-in rebates (0.70) (1.25)
Reported ARPU $10.02 $9.39
Average monthly revenue per Hertz
subscriber $7.10 $3.13
(1) Average monthly churn is the number of deactivated subscribers divided by average quarterly subscribers.
Sirius Satellite Radio Inc.
Financial Highlights
(In thousands, except per share data)
(Unaudited)
For the Three Months For the Year
Ended December 31, Ended December 31,
2004 2003 2004 2003
Revenue:
Subscriber revenue, including
effects of mail-in rebates $22,704 $4,835 $62,881 $12,615
Advertising revenue,
net of agency fees 507 33 906 116
Equipment revenue 1,885 61 2,898 61
Other revenue 121 21 169 80
Total revenue 25,217 4,950 66,854 12,872
Operating expenses:
Cost of services (excludes
depreciation expense shown
separately below):
Satellite and transmission 6,942 9,063 31,157 32,604
Programming and content 25,977 8,503 63,949 30,214
Customer service and billing 8,623 2,899 22,341 23,657
Cost of equipment 1,852 115 3,467 115
Sales and marketing 50,651 35,009 153,899 120,771
Subscriber acquisition costs 64,944 27,835 173,702 74,860
General and administrative 13,019 7,497 44,028 36,211
Engineering, design and
development 8,430 5,666 30,520 24,534
Depreciation expense 24,288 24,124 95,370 95,353
Equity granted to third parties
and employees (1) 79,065 9,356 126,725 12,083
Total operating expenses 283,791 130,067 745,158 450,402
Loss from operations (258,574) (125,117) (678,304) (437,530)
Other (expense) income:
Debt restructuring -- -- -- 256,538
Interest and investment income 3,807 1,276 9,713 5,287
Interest expense (7,151) (23,937) (41,386) (50,510)
Other income 605 -- 2,016 --
Total other (expense) income (2,739) (22,661) (29,657) 211,315
Loss before income taxes (261,313) (147,778) (707,961) (226,215)
Income tax expense (560) -- (4,201) --
Net loss (261,873) (147,778) (712,162) (226,215)
Preferred stock dividends -- -- -- (8,574)
Preferred stock deemed dividends -- -- -- (79,634)
Net loss applicable to common
stockholders $(261,873) $(147,778) $(712,162) $(314,423)
Net loss per share applicable
to common stockholders
(basic and diluted) $(0.21) $(0.14) $(0.57) $(0.38)
Weighted average common shares
outstanding
(basic and diluted) 1,263,710 1,041,365 1,238,585 827,186
(1) Allocation of equity granted to third parties and employees to other
operating expenses:
Satellite and transmission $1,244 $233 $2,041 $508
Programming and content 15,533 814 23,930 1,216
Customer service and billing 254 94 439 136
Sales and marketing 19,931 4,184 48,322 4,844
Subscriber acquisition costs 32,815 -- 33,149 --
General and administrative 6,462 3,083 13,877 4,210
Engineering, design and
development 2,826 948 4,967 1,169
Total equity granted to third
parties and employees $79,065 $9,356 $126,725 $12,083
Sirius Satellite Radio In
Financial Highlights
(In thousands)
(Unaudited)
Selected Balance Sheet Data as of:
December 31, 2004 December 31, 2003
Cash, cash equivalents and marketable
securities $759,168 $549,883
Restricted investments 97,321 8,747
Working capital 541,526 497,661
Total assets 1,957,613 1,617,317
Long-term debt 656,274 194,803
Total liabilities 956,980 292,123
Accumulated deficit (1,865,856) (1,153,694)
Stockholders' equity 1,000,633 1,325,194
The following table reconciles GAAP loss from operations to adjusted loss
from operations:
For the Three Months Ended For the Year Ended
December 31, December 31,
2004 2003 2004 2003
GAAP loss from operations,
as reported $(258,574) $(125,117) $(678,304) $(437,530)
Depreciation expense 24,288 24,124 95,370 95,353
Equity granted to third
parties and employees 79,065 9,356 126,725 12,083
Adjusted loss from operations $(155,221) $(91,637) $(456,209) $(330,094)
Sirius Satellite Radio Inc.
Financial Highlights
(In thousands)
(Unaudited)
For the Three Months Ended For the Year Ended
December 31, December 31,
2004 2003 2004 2003
Cash flows from operating
activities:
Net loss $(261,873) $(147,778) $(712,162) $(226,215)
Adjustments to reconcile
net loss to net cash
used in operating activities:
Depreciation expense 24,288 24,124 95,370 95,353
Non-cash interest expense 744 19,973 21,912 22,708
Loss on disposal of assets 51 1,028 70 15,493
Non-cash gain associated with
debt restructuring -- -- -- (261,275)
Costs associated with debt
restructuring -- -- -- 4,737
Expense for equity granted to
third parties and employees 79,065 9,356 126,725 12,083
Other -- 2 -- --
Changes in operating assets and
liabilities:
Marketable securities (200) 1 (292) (1,184)
Prepaid expenses and other
current assets (5,653) (1,549) (13,522) (1,877)
Other long-term assets (41,157) (80) (44,563) (79)
Accrued interest 841 (4,100) 4,689 12,821
Accounts payable and accrued
expenses 64,276 12,864 108,997 21,996
Deferred revenue 44,749 11,360 78,055 16,709
Other long-term liabilities (4,074) 1,049 258 4,243
Net cash used in operating
activities (98,943) (73,750) (334,463) (284,487)
Cash flows from investing
activities:
Additions to property and
equipment (6,273) (5,739) (28,589) (20,118)
Sale of property and equipment 206 -- 443 --
Sales (purchases) of restricted
investments 398 -- (89,706) --
Purchases of available-for-sale
securities -- -- -- (24,826)
Maturities of available-for-sale
securities -- -- 25,000 150,000
Net cash (used in) provided by
investing activities (5,669) (5,739) (92,852) 105,056
Cash flows from financing
activities:
Proceeds from issuance of
common stock, net 96,025 150,000 96,025 492,659
Proceeds from issuance of
long-term debt, net 224,813 -- 518,413 194,224
Proceeds from exercise of
stock options 20,047 -- 26,051 --
Proceeds from exercise of
warrants -- -- 19,850 --
Costs associated with debt
restructuring -- -- -- (4,737)
Other (13) (40) (112) (111)
Net cash provided by
financing activities 340,872 149,960 660,227 682,035
Net increase in cash and cash
equivalents 236,260 70,471 232,912 502,604
Cash and cash equivalents
at the beginning of period 517,631 450,508 520,979 18,375
Cash and cash equivalents
at the end of period $753,891 $520,979 $753,891 $520,979
SOURCE SIRIUS Satellite Radio
CONTACT: Media: Jim Collins, +1-212-901-6422, or jcollins@siriusradio.com, Analysts: Michelle
McKinnon, +1-212-584-5285, or mmckinnon@siriusradio.com, Investors: Jaymie
VanValkenburgh, +1-212-584-5158, or jvanvalkenburgh@siriusradio.com, all of SIRIUS
Satellite Radio
Sirius Satellite Radio Announces Strategic Alliance With Jimmy Iovine and Interscope Geffen A&M Records
Monday January 24, 8:05 AM EST
NEW YORK, Jan 24, 2005 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI) has announced the formation of an exclusive creative, marketing and promotional alliance with Interscope Geffen A&M Records and its Chairman, Jimmy Iovine.
Iovine was instrumental in the formation of Shade 45, the just-launched, cutting-edge hip-hop channel co-executive produced by Eminem, Paul Rosenberg, Shady Records and Interscope Records, available exclusively on SIRIUS. In addition to serving as an executive producer of Shade 45, Iovine will act as creative advisor and consultant to SIRIUS on new programming opportunities. Interscope Geffen A&M will also offer SIRIUS marketing and promotional opportunities with their artists.
Scott Greenstein, SIRIUS President of Entertainment and Sports said, "Over the last 14 years, Jimmy Iovine took Interscope Records from a start-up operation to what is now one of the most influential record companies in the world. His artists, including U2, Eminem, No Doubt, Sheryl Crow, 50 Cent and Queens of the Stone Age, among many others, represent the best that music has to offer. He is a forward-thinking entertainment executive who shared our initial vision for Shade 45. I look forward to the exciting new projects we will work on together for SIRIUS."
Jimmy Iovine, Chairman of Interscope Geffen A&M Records said: "The opportunity that this relationship creates for an individual artist, a record label, or for that matter an industry, customizing distribution and exposure, is unparalleled in the history of the music business."
About Interscope Geffen A&M Records
Combining the legacies of three of the most influential record labels in modern music history, Interscope Geffen A&M Records embarked on a new tradition of musical achievement with its unification on January 1, 1999. Headed by Chairman Jimmy Iovine, Interscope Geffen A&M quickly emerged as a major force in global music, developing chart-topping artists across a wide range of musical genres including rock, rap, pop and alternative.
About SIRIUS
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, 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 and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. 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, 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.
SOURCE SIRIUS Satellite Radio
CONTACT: Patrick Reilly, +1-212-901-6646, preilly@siriusradio.com, or Ron Rodrigues,
+1-212-584-5192, rrodrigues@siriusradio.com, both of SIRIUS Media Relations
SIRIUS SATELLITE RADIO TO ANNOUNCE 2004 FINANCIAL AND OPERATING RESULTS ON JANUARY 26
Company to Webcast Earnings Call for Investors and Media
NEW YORK - January 21, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it plans to release 2004 financial and operating results on January 26.
SIRIUS also plans to hold a conference call at 8:00 am ET to discuss these results. Investors and the press can listen to the conference call via the company's website, www.sirius.com, and on its satellite radio service by tuning to SIRIUS Channel 131.
A replay of the call will be available on the company's website.
About SIRIUS
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, Volvo and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
Contacts:
Jim Collins
Media
212-901-6422
jcollins@siriusradio.com
Michelle McKinnon
Investor Relations
212-584-5285
mmckinnon@siriusradio.com
Jaymie VanValkenburgh
Investor Relations
212-584-5158
jvanvalkenburgh@siriusradio.com
The NBA and SIRIUS Satellite Radio Score with Extension of Multi-Year Programming and Marketing Agreement
Friday January 21, 2:05 pm ET
NEW YORK, Jan. 21 /PRNewswire-FirstCall/ -- The National Basketball Association and SIRIUS Satellite Radio (Nasdaq: SIRI - News) today announced that SIRIUS will broadcast NBA regular season games, Playoffs and The Finals nationwide to subscribers as part of a non-exclusive multi-year extension agreement.
SIRIUS currently broadcasts up to 40 NBA games each week at no extra charge over the basic monthly $12.95 programming fee. A complete schedule of NBA games is available on http://www.sirius.com and NBA.com. The new agreement provides SIRIUS with expanded trademark and promotional rights, and SIRIUS and the NBA are expected to conduct joint marketing efforts targeted at NBA fans. And for the first time, SIRIUS subscribers will receive live official courtside game stats on their SIRIUS displays.
"With millions of sports fans across the country, the NBA ranks among the world's premier sports franchises and we're delighted to expand our relationship with them," said Scott Greenstein, SIRIUS President of Entertainment and Sports. "When you look at the variety and choice that's available on SIRIUS, including the NFL, college sports, 100% commercial-free music, original programming, such as Eminem's 'Shade 45', Howard Stern beginning next January, and with the extension of our NBA relationship, there's no question who has the best programming in satellite radio."
"We are pleased to extend our relationship with SIRIUS satellite radio service which provides our fans with another innovative way to follow their favorite NBA teams and players," said Ed Desser, NBA Executive Vice President of Strategic Planning and Business Development.
SIRIUS radios are available at retail outlets around the country. More information: http://www.sirius.com.
About the NBA
Since its founding in 1946, the NBA has become a global phenomenon that transcends national boundaries. With 30 teams in the United States and Canada, the league has captured the public's imagination with the world's greatest athletes playing the game of basketball at the highest level of competition. The NBA is one of the largest suppliers of sports television and Internet programming in the world. Today NBA games and related programming are broadcast to 214 countries in 43 languages. Through NBA Entertainment, the league's award-winning production and programming division, the league produces NBA TV, a 24-hour television channel, weekly television shows, and exclusive content for each of the NBA's team Web sites, and the league's official sites, NBA.com and WNBA.com. The league has also partnered with the leading Internet content and technology providers to bring the game experience even closer to its fans worldwide.
About SIRIUS
SIRIUS delivers the best commercial-free music, compelling talk shows, valuable 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 world-class 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, NBA and NHL, 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, Sanyo and XACT Communications. SIRIUS radios can be purchased at major retailers including Best Buy, Circuit City, 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 BMW, MINI, Chrysler, Dodge, Jeep, Nissan, Infiniti, Mazda, Audi, Ford, Lincoln-Mercury, Mercedes-Benz, Porsche and Volkswagen. 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, 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.
Source: SIRIUS; The National Basketball Association
Delphi To Supply Sirius Satellite Radios To Ford In '06
Tuesday January 11, 11:43 AM EST
DETROIT (Dow Jones)--Delphi Corp. (DPH) plans to supply Sirius Satellite Radio receivers for four Ford Motor Co. (F) 2006 models beginning this summer.
The new business expands Delphi's supply of audio products to Ford.
In a press release Tuesday, automotive supplier Delphi said the Sirius Satellite Radio Inc.'s (SIRI) radios will be a factory-installed option on the 2006 Ford F-150, Ford Explorer, Lincoln Mark LT and Mercury Mountaineer.
The radios will be offered on additional future models.
A Delphi spokesman declined to comment on how much the new offering will help business, but said receiver sales are expected to contribute to Delphi's electrical, electronics, and safety & interior sector revenue.
"We've sold almost 4.5 million receivers. The demand keeps growing and growing," the spokesman said.
The General Motors Corp. (GM) spinoff's electrical, electronics, safety & interior product sector accounted for $14.4 billion of the company's 2003 net sales of $28 billion.
On Monday, Delphi, which has been working through a restructuring plan, lowered its fourth-quarter and 2004 revenue and bottom-line outlooks due to low production volume and higher commodity prices.
Shares of Delphi recently traded at $8.12, down 10, or 1.2% on New York Stock Exchange composite trading.
-Nicole Urbanowicz; Dow Jones Newswires; 201-938-5400; AskNewswires@ dowjones.com
SIRIUS SATELLITE RADIO TO PARTICIPATE IN THE SMITH BARNEY CITIGROUP GLOBAL ENTERTAINMENT, MEDIA & TELECOMMUNICATIONS CONFERENCE
NEW YORK - January 7, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI), today announced that David J. Frear, Executive Vice President and Chief Financial Officer, is scheduled to present at the Smith Barney Citigroup Global Entertainment, Media & Telecommunications Conference in Phoenix, AZ on Monday, January 10, 2005.
A live audio webcast of the event will be available through the Investor Relations section of the Company's website, sirius.com, on Monday, January 10, 2005 at 12.45 pm ET / 9:45 am PT.
About SIRIUS
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, 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 and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
Media Contacts:
Jim Collins
SIRIUS
212-901-6422
jcollins@SIRIUSradio.com
Michelle McKinnon
SIRIUS Investor Relations
212.584.5285
mmckinnon@SIRIUSradio.com
Jaymie VanValkenburgh
SIRIUS Investor Relations
212.584.5158
jvanvalkenburgh@SIRIUSradio.com
SIRIUS Introduces 'Starbase' for Connectivity to Non-Satellite Ready Radios
Thursday January 6, 12:00 pm ET
New Digital Control Unit, Combined With SiriusConnect, Enables Any Vehicle Radio to Connect With SIRIUS
NEW YORK and LAS VEGAS, Jan. 6 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (Nasdaq: SIRI - News) today announced at the Consumer Electronics Show in Las Vegas the introduction of a new digital control unit, called Starbase, which allows any vehicle radio to connect with SIRIUS.
* (Photo: http://www.newscom.com/cgi-bin/prnh/20050106/NYTH111 )
Starbase makes it possible for consumers who do not have a satellite-ready radio in their vehicles to connect to SIRIUS when the unit is combined with SIRIUS' new trunk mounted satellite radio receiver -- SiriusConnect -- and an antenna.
The slim unit allows mounting in single din slots of vehicles, or with Velcro to the car dashboard. It also includes a built-in FM modulator that can connect the unit wirelessly to an existing radio over as many as 100 available channels.
"Combined with our new SiriusConnect trunk mounted receiver, Starbase provides a complete end-to-end system for connecting to SIRIUS regardless of what vehicle a consumer drives," said Larry Pesce, Senior Vice President of Product Management and Strategic Planning. "Consumers who do not have satellite radio, but don't want to change their car radios, now have another option to listen to SIRIUS' 100-percent commercial-free music, plus news, weather, traffic, entertainment, and the best sports programming in satellite radio."
Starbase is currently available at retail locations at a suggested price of $169.95.
About SIRIUS
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, 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®, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. 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, 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.
Source: SIRIUS Satellite Radio
SIRIUS Satellite Radio to Add Replay to Sportster Receiver
Thursday January 6, 3:00 pm ET
Best Selling SIRIUS 'Plug & Play' Radio Enhanced to Include Instant Replay
NEW YORK and LAS VEGAS, Jan. 6 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (Nasdaq: SIRI - News) today announced at the Consumer Electronics Show that it will add an instant replay feature to its number #1 selling transportable "Plug & Play" radio - the Sportster.
The redesigned Sportster IR will be capable of recording up to 44 minutes of programming simultaneously while a subscriber is listening to SIRIUS, enabling the listener to pause the unit, to take a phone call for example, and return to where the programming left off.
"The popularity of the Sportster makes it the ideal SIRIUS "Plug & Play" to introduce this exciting new feature," said Larry Pesce, Senior Vice President of Product Management and Strategic Planning for SIRIUS. "We believe that subscribers will appreciate, and utilize, this new capability in order to not miss out on their favorite programming, no matter what the interruption."
The new Sportster IR will utilize a simple 3-button feature to pause, jump forward and jump back, and will also include a built-in FM modulator that permits wireless connectivity to any vehicle radio over as many as 100 unused channels.
Incorporating a new, sleek design, the Sportster IR is compatible with existing SIRIUS Sportster boom boxes, car and home kits. SIRIUS expects that the new unit will begin shipping to retail stores in the middle of this year. Pricing will be announced at a later date.
About SIRIUS
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, 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®, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. 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, 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.
Source: SIRIUS Satellite Radio
SIRIUS Launches 'SiriusConnect' Receiver for Satellite Radio
Thursday January 6, 8:03 AM EST
NEW YORK and LAS VEGAS, Jan 06, 2005 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI) today announced at the Consumer Electronics Show the introduction of the SiriusConnect receiver. The new product utilizes SIRIUS' next generation technology to offer a single-piece system that is compatible with SIRIUS-ready headunits from manufacturers such as Alpine, Audiovox, JVC, Kenwood, Eclipse and Pioneer. The SiriusConnect receiver will also interface with XM-ready headunits from Alpine and Pioneer that are up to three years old, making it easier for consumers to choose the content provider that best meets their needs and tastes.
The new system combines a receiver with a translation device all in one unit, which is significantly smaller than current receivers, as well as with those offered by competitive systems. SIRIUS also expects the SiriusConnect to be compatible with additional satellite-ready brands throughout 2005.
"The great advantage of this unit is its ability to interface with multiple in-dash radios that are SIRIUS-ready," said Larry Pesce, Senior Vice President of Product Management and Strategic Planning for SIRIUS. "Plus, the SiriusConnect has a unique pass-through feature that allows other audio components, such as iPods or CD changers, to be connected simultaneously with the SIRIUS receiver. No other satellite radio provider offers this feature."
The SiriusConnect design combines a standard trunk mounted tuner with a translator that is specific to each brand of SIRIUS-ready in-dash radio. This greatly simplifies installation as well as lowering overall production costs.
SiriusConnect will be packaged with an antenna for easy purchase and inventory management and is currently shipping to support Alpine and Pioneer branded head units. Pricing will vary depending on the specific brand interface.
About SIRIUS
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, 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 and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. 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, 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.
SOURCE SIRIUS Satellite Radio
CONTACT: Jim Collins, +1-212-901-6422, cell phone at CES: +1-732-927-3924,
jcollins@SIRIUSradio.com, or Ron Rodrigues, Media Relations, +1-212-584-5192, cell
phone at CES: +1-646-240-9154, rrodrigues@SIRIUS.com, both of SIRIUS; or Dena Cook o
Zeno Group, +1-310-566-2283, cell phone at CES: +1-310-600-7160,
dena.cook@zenogroup.com, or Zach Colvin, +1-310-566-2286, cell phone at CES:
+1-310-880-4314, zach.colvin@zenogroup.com, both of Zeno Group
SIRIUS AND PIONEER OFFER TUNER FOR SATELLITE RADIO
New Tuner Compatible With SAT-Ready Head Units From Pioneer
NEW YORK and LAS VEGAS, NV - January 5, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) and Pioneer Electronics (USA) Inc., an established leader in mobile entertainment products, today announced at the Consumer Electronics Show in Las Vegas the availability of a new tuner for SIRIUS that is compatible with satellite-ready head units and most IP-Bus head units from Pioneer.
The new SIR-PNR1 tuner will come equipped with all installation hardware, including the SIRIUS antenna, for the manufacturer's suggested retail price of $120.
"Pioneer consumers now have a choice of satellite radio service," said Michael Townsen, director of marketing for the mobile entertainment division of Pioneer Electronics (USA) Inc. "The SIRIUS tuner is compatible with millions of head units with IP-Bus changer controls we've sold throughout the years. Offering an add-on SIRIUS tuner shows our commitment to the satellite radio business."
"We are thrilled to add Pioneer to the long list of companies now producing satellite radio products for SIRIUS," said Larry Pesce, Senior Vice President of Product Management and Strategic Planning. "Their reputation for building quality products is well-known throughout the world, and we are very pleased that Pioneer customers will now have the opportunity to access SIRIUS' quality programming."
The Pioneer SIR-PNR1 will be available at retail stores beginning this month.
About SIRIUS
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, 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, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
Media Contacts:
Jim Collins
SIRIUS
Corporate Communications
732.927.3924
jcollins@siriusradio.com
Ron Rodrigues
SIRIUS Media Relations
646.240.9154
rrodrigues@SIRIUSradio.com
SIRIUS SATELLITE RADIO CREATES 'STAR MATE'
Palm Sized Satellite Radio Available at Retail This Month
NEW YORK and LAS VEGAS, NV - January 5, 2004 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced at the Consumer Electronics Show in Las Vegas that its smallest "Plug & Play" satellite radio - Star Mate - will be available at retail stores beginning this month.
Star Mate, which is about the size of a deck of cards, is a transportable "Plug & Play" unit that can be used in vehicles, boats and homes, and provides access to SIRIUS' 65 channels of 100% commercial-free music as well as over 55 channels of news, sports, weather, traffic information, original entertainment and call-in talk shows.
Featuring a three-line full display, the six-ounce Star Mate has 30 presets and a built-in wireless FM transmitter with 100 frequencies. The Star Mate, including both home and vehicle adapter kits, is expected to retail for just $129.95.
"The small, lightweight and affordable Star Mate provides yet another ideal way for subscribers to access SIRIUS' innovative programming, whether it's in the car, truck, boat, RV or at home," said Larry Pesce, Senior Vice President of Product Management and Strategic Planning for SIRIUS. "This is the smallest transportable SIRIUS satellite radio unit to date, and we believe it will be very popular with consumers."
About SIRIUS
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, 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 and Volkswagen. Beginning in February of 2005 SIRIUS will also be available in Toyota, Lexus and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
Media Contacts:
Jim Collins
SIRIUS
Corporate Communications
732.927.3924
jcollins@siriusradio.com
Ron Rodrigues
SIRIUS Media Relations
646.240.9154
rrodrigues@SIRIUSradio.com
SIRIUS AND MICROSOFT TO COLLABORATE TO DEVELOP VIDEO SERVICE
SIRIUS Selects Windows Media Video 9 for Mobile Video Service
NEW YORK and LAS VEGAS, NV - January 5, 2005 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced at the Consumer Electronics Show in Las Vegas that it has selected Windows Media Video 9 for use in SIRIUS' mobile video platform, and has reached an agreement with Microsoft to collaborate in the further development of video applications.
SIRIUS plans to offer a video service in the second half of 2006, and expects to devote 2-3 channels of premium video content designed primarily for children. With the explosive growth of DVD sales, video capabilities in automobiles are quickly becoming a prime feature for families and travelers. The automobile industry is increasingly interested in offering entertainment features to their new car buyers. According to SIRIUS, its automotive partners are eager proponents of the service, given the strong demand for rear seat video entertainment.
"We will take the DVD experience to the next level, offering the best content easily available to families and consumers," said Mel Karmazin, CEO of SIRIUS. "Working together with Microsoft will help ensure the exciting development of a solid and user friendly video platform for SIRIUS for years to come."
"We are excited to be working with SIRIUS on its new mobile video service that will be delivered using our technology," said Amir Majidimehr, Corporate Vice President of the Windows Digital Media Division at Microsoft. "We will further work together to enable consumers to experience SIRIUS video whether on the go or at home -- from the initial mobile service in vehicles to the PC and home entertainment devices."
According to Microsoft, the high-quality and compression efficiencies of this technology are well suited for reception of video in mobile environments. SIRIUS broadcasts over 120 channels of commercial free music, news, talk and entertainment programming, and the addition of its video channels are not expected to affect the current audio fidelity of the company's existing channels.
"Working with Microsoft to utilize the compression efficiencies inherent to WMV9 will enable SIRIUS to deliver content optimized for satellite broadcasts and reception," said Jim Meyer, President of Operations and Sales for SIRIUS.
About SIRIUS
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, 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 and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
SIRIUS Contact:
Jim Collins
732.927.3924
jcollins@siriusradio.com
FORD AND SIRIUS SATELLITE RADIO TARGET EXTENSIVE FACTORY INSTALLATIONS BEGINNING SUMMER 2005
- Up to one million SIRIUS subscribers expected in first two years
- Up to 21 vehicle lines targeted
- At least six months of SIRIUS Service included with factory-installed option
DETROIT, NEW YORK, January 4, 2005 - Ford Motor Company (NYSE: F) and SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that Ford and Lincoln Mercury will begin offering SIRIUS as a factory installed option this summer. Ford is targeting the SIRIUS factory installed option for up to 21 vehicle lines. Ford expects to generate up to one million SIRIUS subscribers over the 2006 and 2007 model year periods.
Each Ford and Lincoln Mercury vehicle sold with factory equipped SIRIUS will include a six-month or longer subscription. Pricing will be announced at a later date.
Starting with the 2006 model year, Ford plans to offer factory installed SIRIUS on the following vehicle lines:
- Ford F-150
- Ford Explorer
- Lincoln Mark LT
- Mercury Mountaineer
Ford and Lincoln Mercury are targeting up to 17 additional vehicle lines for the SIRIUS factory installed option during the 2006 and 2007 calendar year period. In total about 80 percent of all Ford and Lincoln Mercury vehicles will have SIRIUS as a factory installed option.
"Ford is a very important automotive relationship for us, and we are very pleased that they plan to offer factory installed SIRIUS in the vast majority of their vehicle lines," said Mel Karmazin, CEO of SIRIUS.
"When you add premium programming from SIRIUS to quality vehicles from Ford, you have an unbeatable combination that will enhance the driving experience of any Ford customer."
"We believe the option for SIRIUS satellite radio will be very attractive to many of our customers," said Earl Hesterberg, Ford group vice president. North America Marketing, Sales and Service. "This is an exciting opportunity for us and for our customers."
About Ford
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures and distributes automobiles in 200 markets across six continents. With more than 327,000 employees worldwide, the company's automotive brands include Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo.
Its automotive-related services include Ford Credit, Quality Care and Hertz.
Visit http://media.ford.com for information, news releases and high-resolution photography.
About SIRIUS
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. SIRIUS also broadcasts live play-by-play games of the NFL and NBA, and is the Official Satellite Radio partner of the NFL.
Click on 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, 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.
SIRIUS SATELLITE RADIO ENDS YEAR WITH MORE THAN 1.1 MILLION SUBSCRIBERS
Company Exceeds Year-End Target of 1 million Subscribers
SIRIUS Expects to Double Number of Subscribers in 2005
NEW YORK - January 3, 2004 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it ended 2004 with 1,143,258 million subscribers, exceeding its end-of-year target of 1 million subscribers. The company attributed its strong full-year results to robust retail sales, growing awareness of the benefits of satellite radio, and greater recognition by consumers of the company's premium quality programming.
"While we were looking to finish the year with 1 million subscribers, we are very pleased to have significantly exceeded that number," said Mel Karmazin, CEO of SIRIUS. "The combination of our innovative products, diverse content and greater awareness of the SIRIUS brand, along with strong growth from the retail and automotive channels, contributed to a better-than-expected year-end figure."
SIRIUS' Sportster "Plug & Play" was a popular gift item during the holidays, as were many of the other transportable products from the satellite radio broadcaster. The "Plug & Play" products can be used in vehicles, boats, RVs or homes, and provide a flexible, low-cost way of experiencing satellite radio.
"2004 has been a watershed year for SIRIUS with the introduction of exceptional programming and feature-rich products," added Karmazin. "This strong finish underscores the momentum that we continue to see for our service, including commercial-free music, news, weather, traffic, entertainment and the best sports coverage in satellite radio. We believe that this enthusiasm will continue, and we expect to double our subscribers during 2005."
About SIRIUS
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, 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 and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on 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, 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.
Media Contacts:
Patrick Reilly
SIRIUS Media Relations
preilly@siriusradio.com
212.901.6646
Ron Rodrigues
SIRIUS Media Relations
rrodrigues@siriusradio.com
212.584.5192