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1st Qtr Revenues should be out shortly. Avis signed on!
The revs. should prove very interesting when they come out.
Avis Rentals takes on XM
XM goes into home model radios.
Ezco: it is down due to new offering. Anywhere from 10-11 should be a great buy.
good luck
john
PRESS RELEASE: XM Satellite Sees Funding Into 1Q 2003
XM Satellite Radio Raises $154.0 Million Prices Offering of 13,387,000 Shares of Common Stock WASHINGTON, April 12 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) announced today that it has priced a public offering of 13,387,000 shares of its Class A Common Stock at a per share price of $11.50. The offering, expected to close next week, raises gross proceeds of $154.0 million. The proceeds will be used primarily for marketing expenses, systems, and other general corporate purposes, and are expected to fund company operations into the latter half of the first quarter of 2003. All of the securities were offered by the company. (Photo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO ) The company also granted the underwriters an option to purchase up to an additional 2,008,050 shares of Class A common stock to cover over-allotments. The offering was managed by Morgan Stanley, Merrill Lynch & Co., Credit Suisse First Boston, and Deutsche Bank Securities. A copy of the prospectus relating to the offering can be obtained from the company. XM is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24-hour news sources available in the home on cable and DIRECTV. XM was named 2001 "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 CES, including "Best of CES" in the automotive category. General Motors in November rolled out factory-installed Delphi-Delco XM radios in Cadillac DeVille and Seville models, and will expand to a total of 25 Buick, Cadillac, Chevrolet, GMC, Olds and Pontiac models this year. Nissan announced it will offer XM as an option this coming fall on select Infiniti and Nissan 2003 models. XM has signed a distribution agreement to offer satellite radio to Volkswagen and Audi customers in the United States in the coming years. Isuzu dealers will begin to offer XM radios to customers in April. XM radios are available at major electronics retailers nationwide including Best Buy, Circuit City, Tweeter, Ultimate Electronics, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers. Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios that easily enable any existing car stereo system. XM's strategic investors include America's leading car, radio and satellite TV companies -- General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV. For more information, please visit XM's web site: http://www.xmradio.com . Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8-K filed with the Securities and Exchange Commission on 4-8-2002. Copies of the filing are available upon request from XM Radio' s Investor Relations Department. SOURCE XM Satellite Radio 04/12/2002 /CONTACT: Press: Charles Robbins, +1-202-380-4316, or charles.robbins@xmradio.com, or Ildiko Novak, +1-202-380-4317, or ildiko.novak@xmradio.com; or Investors: Gary Tiedemann: +1-202-380-4396, or gary.tiedemann@xmradio.com, all of XM Satellite Radio/ /Photo: Newscom: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or 212-782-2840/ /Web site: http://www.xmradio.com/ (XMSR)
(END) DOW JONES NEWS 04-12-02
09:10 AM
ezco- i bought some more xm today but I just can't get to excited about Siri, as I already have a position and can't justify adding to it without news. Do you own it?
My 1st Qtr 02 Revenue SWAG is $2.6 million up from 500k the 4qtr of 01 5x increase. Swag for 02 yr is $ 18.5million. What is your guess?
EZCO_ thanks for the great sites. The one you listed for XM I am familiar with but the one for Siri was new to me even though it was by tradek. I took the site for Siri and analyzed XM it is very strong on intermediate.
So the first site was very good short term
The second site was Very Bullish Intermediate.
I am very glad you are investing some time in this equity since I truely believe it should yield excellent returns for 1 3 and 5 yrs and longer and your insite is very helpful to me.
Our next hurdle which isn't expected to be large is the FCC findings due out shortly. Then the 1qtr figures thru Mar 31 should be good, just view the revenue growth. for the 1st 2 qtrs bet we go from 500k in 4th 01 to 2,600,000 1st qtr rev 02.
just my guess
XM Satellite Radio Holdings Announces Quarterly Dividend on Series B Preferred Stock
WASHINGTON, Apr 5, 2002 /PRNewswireFirstCall via COMTEX/ XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) announced today that it has declared a regular quarterly dividend on its 8.25% Series B Convertible Redeemable Preferred Stock.
(Photo: http://www.newscom.com/cgibin/prnh/20000724/XMSATLOGO )
The dividend is payable in shares of the Company's Class A Common Stock at a rate of $1.0313 per share of Series B Preferred Stock owned, with fractional shares to be paid in cash. The shares of Class A Common Stock to be issued will be valued at 95% of the average daily price of the Class A Common Stock for the 10 consecutive trading days ending on April 12, 2002. The dividend is payable on May 1, 2002, to Series B convertible preferred stockholders of record of XM Satellite Radio Holdings Inc. as of April 19, 2002.
XM announced Monday that it well exceeded most Wall Street analyst expectations for first quarter subscriber growth, ending with more than 76,000 total subscribers as of March 31, 2002. Described by the Yankee Group as the fastestgrowing consumer electronics audio product of the last 20 years, XM more than doubled its subscribers in the first quarter. XM was named 2001 "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 CES, including "Best of CES" in the automotive category.
XM is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coasttocoast digital channels: 71 music channels, more than 30 of them commercialfree, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24hour news sources available in the home on cable and DIRECTV.
General Motors in November rolled out factoryinstalled DelphiDelco XM radios in Cadillac DeVille and Seville models, and will expand to a total of 25 Buick, Cadillac, Chevrolet, GMC, Olds and Pontiac models this year. Nissan announced it will offer XM as an option this coming fall on select Infiniti and Nissan 2003 models. XM has signed a distribution agreement with Volkswagen of America, Inc., which also encompasses Audi of America, to offer satellite radio to Volkswagen and Audi customers in the United States in the coming years. Isuzu dealers will begin to offer XM radios to customers in April. XM radios are available at major electronics retailers nationwide including Best Buy, Circuit City, Tweeter, Ultimate Electronics, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers. Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios that easily enable any existing car stereo system. XM's strategic investors include America's leading car, radio and satellite TV companies General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV. For more information, please visit XM's web site: http://www.xmradio.com .
Factors that could cause actual results to differ materially from those in the forwardlooking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8K filed with the Securities and Exchange Commission on 1262001. Copies of the filing are available upon request from XM Radio's Investor Relations Department.
SOURCE XM Satellite Radio Holdings Inc.
CONTACT: Press: Charles Robbins, +12023804316, charles.robbins@xmradio.com, or Investors: Gary Tiedemann, +12023804396, gary.tiedemann@xmradio.com, both of XM Satellite Radio Holdings Inc. /Photo: Newscom: http://www.newscom.com/cgibin/prnh/20000724/XMSATLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, 8887766555 or 2127822840 URL: http://www.xmradio.com http://www.prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
Think xm resides in a trading range 12-14. Until significant new again arrives. Maybe financing news,(private preferrably not to dilute the current shares). Hopefully a pop from good 1str results.
Nice ads on CNBC features TRACTOR TRAILer remember the Freightliner deal, they built 40% of Americas trucks and are with XM.
Here is an interesting article not on financing just XM / Siri. 4th qtr is when the real action starts imho. OEM GM starts the 23 new models.
SOURCE: Zacks Investment Research
Ruminations of the Contrary Investor Recommends the Following: GTNR, and XMSR
CHICAGO, April 5 /PRNewswire/ -- James Fraser concentrates on value versus fashion,
discovering unusual situations with superior profit potential. Frazer writes a provoking
letter with a human and essentially fundamental approach. Find out where the next great
stock values are coming from. http://www.featuredexpert2.zacks.com
(Photo: http://www.newscom.com/cgi-bin/prnh/20010924/CGM015LOGO )
Here are the highlights from the Featured Expert column:
James Fraser, editor of Ruminations of the Contrary Investor believes we remember our
most recent lesson the best, and lately we've had quite a lot to remember: the tech
bubble, recession, September 11th, Enron, and high-profile bankruptcies.
Today, important lessons regarding corporate accountability and prudence are in
process. This is evident with the recent commercial paper crunch. The denial of credit in
the commercial paper market can lead to spillover effects for a company's access to
credit in other markets.
With the crunch on commercial paper, Fraser has a few companies he suggests keeping
an eye on.
Clear One Communication (Nasdaq: GTNR - news) is a small company that is determined
to have a large impact on the $2 billion video conferencing market. The company's
existing products can already be found in many videoconference rooms handling the
audio requirements. An important differentiating factor between Clear One and other
video product manufacturers is that Clear One is providing the total package of hardware
and services to the market. This encompasses room/system design and installation,
maintenance and ongoing customer care, in addition to the equipment.
Clear One has a clean balance sheet with no debt, and in December raised $25 million by
selling equity at $17 per share to use for strategic acquisitions. Market interest in video
conferencing is at an all time high. Clear One's products and product pipeline includes 12
new audio and video products to be rolled out by June and 17 additional products and
product enhancements by December. At 15 times earnings, Fraser believes this stock
looks cheap. He sees a company with talented management that can use its leading
reputation in audio conferencing to break into this lucrative and growing market. Fraser
has a price target of $25, which is 20 times expected 2003 earnings.
XM Satellite Radio Holdings, Inc. (Nasdaq: XMSR - news) delivers digital radio signals
through powerful orbiting satellites.
Two primary companies have advanced the cause of satellite radio: XM Satellite Holdings
and Sirius Satellite Radio. Each offers a wide spectrum of choices, including music, talk
shows and classic literature. The companies have each partnered with the likes of BMW,
Ford, Mazda, and General Motors to offer satellite-ready radios in each company's
respective vehicle lines. The cost per month for the service is between $10 and $13.
Paying for something that is already free is a choice that echoes back to the early days
of cable television. It is predicted that approximately 4 million subscribers must sign on
for either of the current companies to break even. Fraser believes it is worth taking a
look at these companies.
To get all of James Fraser's market commentary and contrarian stock picks click
http://www.featuredexpert3.zacks.com .
About Zacks Featured Experts
To be a successful investor you need professional advice. Experts who know what
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Stock Picks from Featured Experts Highlighted in FREE Investment Newsletter
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SOURCE: Zacks Investment Research
Sub#s today from good source: 1st qtr 02 +25%
just got news of a 50,000 sub# for first quarter 02; that is 25% more than the 40,000 projected by the president HP
**Total to date from national rollout Nov 01, will be approx 80,000 and that may well come out Monday 4/1/02
If so the business is going very strongly and the sony PNP is sold out in some areas. The importance of the Sony PNP is that it is 70% of the XM sales, for Sony. They are having to ramp up since Nov 01 continually and still out of stock with Crutchfield and others many times.
We have possible negative new breaking on Mon with XM CFO leaving. Iit should be offset by this positive news, imo.
Not sure if CFO was asked to leave or just left at this point, XM treasurer is filling in for now.
EZ we just got the 10k/cc from Siri last week, JC said they have only sold a few hundred Siri vs 70k+ xm.
Volks wagon is on board, isuzu just did an exclusive with a major manufacturer to make XM tuner converters which attach to wiring harness and will fit all models back to 1998.
GM has XM now in the 4th qtr in about 50% of its lines. The scramble is under way. Rumors of private investor backing are floated(means less share dilution).
Sub#s and 1st qtr results are due out shortly. Supposed to be good+
I own the Sony PNP from back in Dec 01, I love it. I bought the stock so figured I better have the product. It is fantastic. Recently drove 11 hrs with total interupt (digital) of 26 seconds vs regular gone all the time radio.
Think of this: xm = 60 stations(with ads) with 6 minutes=360 min/hour available. National ad time, which is what this is, goes for up to $300/minute x 360mins=$108,000per hr. x 24 hrs= $2.6 mil per day x 350days equals huge damn $$ from just ads, even if I am only 1/5 correct on the totals due to nite time hrs volume of certain channels higher than others so the cost is also etc.
Then add the radio subs# at $120 each per yr. Just in in 17weeks they are now over $8,400,000 in revenue since Nov 12th the start up. They are scheduled for 350,000+ this yr x 120= $42,000,000 per yr revenue. From a start up to a rate of $42 million/yr(just subs) in a yr and 6 weeks is unreal.
These guys have a printing press and it is just starting. Marketing groups estimate the total market at up to 48,000,000 subscribers. Say they only get 1/5 of that is still 9.6 million subs x 120/yr
I think it is more than great!
EZ_ The concept will take off (imho). XM is first out of the box and Siri is playing catch up with a national rollout in mid summer.
They both have very major endorsements from the Auto companies, and Freightliner which makes 40% of all us made trucks.
Give this 3 yrs and $10k will growth very very well. They have to split for cash to growth so it is a matter of time. I bet we see the first split for xm well within 18 months end if things continue to go well.
just a real swag but it is what I am betting on.
good luck
john
Ez: did u get a siri set up. If so do u like it?
I recently bought some siri to trade with, but due to the southerly heading I can't yet.
If XM has good luck with the 1st qtr sub #s, and the FCC licenses are extended for the repeaters than we should be well on the way. FCC news due this month, not expected in analyst community to be much of a deal, but it could be, without repeaters both companys have problems.
Synopsis of News for XM 2/11 thru 3/13
XMSR 14.15 +0.09
Wed Mar 13, 2002
•
Isuzu Dealers to Offer XM in Axiom and Rodeo This Spring PR Newswire - 09:54
AM EST
Tue Mar 12, 2002
•
XM Draws Awards From Three Top Trade Magazines PR Newswire - 10:43 AM EST
Mon Mar 11, 2002
•
Alpine Expands XM Radio Products at Retail PR Newswire - 01:54 PM EST
Thu Mar 07, 2002
•
XM Satellite bets listeners will pay for radio Hosted by CBS MarketWatch - 12:20 AM
EST
•
Changing the game, Part II: Formats Hosted by CBS MarketWatch - 12:19 AM EST
•
XM's Abrams tries to lead second revolution in medium
Hosted by CBS MarketWatch - 12:18 AM EST
Wed Mar 06, 2002
•
XM Premieres Never-Released Bob Marley Song And New CDs From UB40
and Jazz Legend Paul Hardcastle PR Newswire - 10:17 AM EST
Tue Feb 26, 2002
•
VH1 Radio to Broadcast Live From Grammy Awards on XM PR Newswire - 11:44
AM EST
Mon Feb 25, 2002
•
XM Radio Delivers Four-Day Celebration of Grammy Awards; Plays All
Nominated and Winning Songs in Major Categories, Airs Exclusive Reports
from Correspondents in LA PR Newswire - 10:33 AM EST
Wed Feb 20, 2002
•
Alert: Robertson Stephens initiates coverage of XMSR at Buy, price target $18
(Headline only) Briefing.com - 09:37 AM EST
•
Entertainment Weekly Gives XM an 'A' PR Newswire - 09:36 AM EST
Thu Feb 14, 2002
•
XM to Air Global Forum With U.S. Secretary of State Colin Powell On MTV
Radio Channel PR Newswire - 09:06 AM EST
•
Sweet Nothings for Wall St. Hosted by The Motley Fool
Wed Feb 13, 2002
•
Viacom news sends media shares up Hosted by CBS MarketWatch - 04:44 PM EST
•
XM Radio hits 'mother load': analyst Hosted by CBS MarketWatch - 12:55 PM EST
•
XM Satellite, DirectTV partner up Hosted by CBS MarketWatch - 09:20 AM EST
•
XM Satellite Radio, DirecTV In Mktg Pact Dow Jones - 09:06 AM EST
•
XM Satellite Radio and DIRECTV Announce Joint Marketing Agreement
PR Newswire - 09:05 AM EST
Tue Feb 12, 2002
•
XM Programming Heats Up in February With Oscar Nomination Coverage By
Harry Knowles, Live Enron Testimony and a Valentine's Musical Celebration of
the Best and Worst of Love PR Newswire - 09:50 AM EST
Mon Feb 11, 2002
•
XM Satellite Radio Revs Up Complete Coverage of 2002 NASCAR Winston
Cup Circuit PR Newswire - 01:23 PM EST
More Stories
XM + Isuzu = way ahead of the curve...
(PR NEWSWIRE) Isuzu Dealers to Offer XM in Axiom and Rodeo This Spring Isuzu Dealers
to Offer XM in Axiom and Rodeo
WASHINGTON, March 13 /PRNewswire-FirstCall/ -- XM Satellite Radio, America's leading
satellite radio service, announced today that participating Isuzu dealers will offer to
install XM radios in Axiom and Rodeo models beginning in April 2002.
http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO
In addition, the company announced that Isuzu Motors America's Accessory Operations
Department, working with TMI Inc., has designed and developed a mounting kit that
allows all Isuzu Axioms and all 1998 and newer Isuzu Rodeos to be easily retrofitted with
a Pioneer XM satellite radio. Pana-Pacific Corp., a national distributor of mobile and audio
electronics, will exclusively distribute these XM Satellite Radio kits directly to Isuzu
dealerships.
"We believe having direct access to XM Satellite Radio provides our dealerships with
cutting-edge technology and an innovative advantage over our competition," said
American Isuzu President and CEO Yasuyuki "Sonny" Sudo.
"By offering XM, our dealers now join GM as the only vehicle companies to have a direct
connection to this fast-growing and exciting radio service."
"We're delighted that Isuzu will offer XM in two of its top models," XM Executive Vice
President Steve Cook said today. "Isuzu stands for quality, versatility, performance and
value, which makes XM a fitting addition to an Isuzu cabin."
Last month, AMI Auto World Magazine named XM as one of the best new car options in
its "Best of 2002" issue. In January, General Motors announced that it will offer XM in 23
models this year, comprising nearly half of all GM
models, expanded from two Cadillac models available with XM since November.
XM was named "Product of the Year" by Fortune, an "Invention of the Year" by Time and
won Popular Science's 2001 "Best of What's New" Grand Award in the
electronics category. XM won several awards at the 2001 CES, including "Best of CES" in
the automotive category. v
Anybody have leaps on QQQ? Thought about it but didn't do it yet.
just curious.
Good luck
john
JMO: but I think TYC looks good. Est. 3 billion of rev. from the sale of the plastics unit deepens the coffers. The eventual breakup value is estimated at between 36 - 72 per share depending on who you listen to, so it seems like a good deal at the low end of that spectrum. Good luck! john
JMO : Solid Support now exists from $9-12.75 Next support level being built is $13 -15
IMHO the news may break soon, April, relative to 1st qtr subs# and an additional offering will likely take place this spring. This cash will fund XM well into 2003 calendar year.
Then automobile/truck OEM subs will start to kick in and supplement the aftermarket sales, ad revenue should start to mount.
If correct:
The stock should break through $20 this year, and there is little resistance above that level. It should move along well as the concept grows. Since the company is not scheduled to breakeven until 2004 we probably can look for a split, or maybe if really lucky, two along the way.
I am a long and for the long haul, I love the service. If you have it, try a test and go to am/fm for 48 hrs, guranteed you will be anxious to get back to XM. Siri should rise in sympathy with XM regardless of the current time lead XM has. So as an inexpensive play I think it is a good way to have some gains.
Good Luck!
john
The train is leaving and heading north!
XM Draws Awards From Three Top Trade Magazines
PR Newswire, Tuesday, March 12, 2002 at 10:44
/FROM PR NEWSWIRE WASHINGTON DC 202-347-5155/ [STK] XMSR [IN] AUT ENT MAG RAD [SU] AWD -- WITH PHOTO -- TO BUSINESS, ENTERTAINMENT AND TECHNOLOGY EDITORS:
XM Draws Awards From Three Top Trade Magazines
AudioVideo Magazine, Heavy Duty Trucking Magazine and Mobile Electronics
Magazine Laud XM's Service and Technology
WASHINGTON, March 12 /PRNewswire-FirstCall/ -- XM Satellite Radio, the nation's leading satellite radio service, has scored a hat trick of awards from top trade magazines for its revolutionary service and technology, receiving honors from AudioVideo Magazine, Heavy Duty Trucking Magazine and Mobile Electronics Magazine.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"XM is honored to receive these prestigious awards," said XM President and CEO Hugh Panero. "XM is the fastest-selling audio product in the past 20 years and receiving recognition from these publications is a wonderful testament to our service and technology."
AudioVideo Magazine awarded XM the 2002 Autosound Grand Prix Award for its satellite radio technology and will appear in a special section of its March issue. The award is given only to those products that embody the year's greatest technical advances. The Grand Prix Award is voted by retailers for sound/video fidelity, design engineering, reliability, installation, user and installer friendliness, product integrity and value-for-price/performance.
Heavy Duty Trucking named XM one of the 50 best product introductions of the year in its March 2002 issue. The "Nifty Fifty" winners are selected by Heavy Duty Trucking's editors from hundreds of new product articles appearing in the magazine over the past year. Editors selected products based on their usefulness to the truck operator in terms of innovation, serviceability and performance.
XM has received an Industry Achievement Award from Mobile Electronics magazine, a monthly trade publication covering the 12-volt industry, for its impact on the car audio market. According to the magazine, 12-volt retailers and XM's manufacturing partners have praised the satellite radio service for its national advertising campaign, providing for a type of exposure that the 12-volt industry has never seen before.
Earlier, XM was named "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 CES, including "Best of CES" in the automotive category.
XM (NASDAQ:XMSR) is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24-hour news sources available in the home on cable and DIRECTV. XM radios are available at major electronics retailers nationwide including Best Buy, Circuit City, Tweeter, Ultimate Electronics, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers. Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios including models that will easily enable any existing car stereo system to receive XM service (the Pioneer Universal Receiver and the Sony Plug-and-Play) and over 20 models of new AM/FM/XM systems offering many other great features. General Motors in November rolled out factory-installed Delphi-Delco XM radios in Cadillac DeVille and Seville models, and will expand to 21 additional GM models this year. XM's strategic investors include America's leading car, radio and satellite TV companies -- General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV. For more information, please visit XM's web site: http://www.xmradio.com .
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8-K filed with the Securities and Exchange Commission on 12-6-2001. Copies of the filing are available upon request from XM Radio's Investor Relations Department.
SOURCE XM Satellite Radio
-0- 03/12/2002
/CONTACT: Charles Robbins, +1-202-380-4316, charles.robbins@xmradio.com, or Kristine Ludecke, +1-202-380-4132, kristine.ludecke@xmradio.com, both of XM Satellite Radio/
/Photo: Newscom: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840/
/Web site: http://www.xmradio.com/
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:XMSR XM Satellite Radio Holdings Inc. (NM)
XM Satellite Radio Holdings Inc.
XM Draws Awards From Three Top Trade Magazines
[ PR Newswire ]
03/12/2002 10:44
Alpine Expands XM Radio Products at Retail
[ PR Newswire ]
03/11/2002 13:55
XM Premieres Never-Released Bob Marley Song And New CDs From UB40 and Jazz Legend Paul Hardcastle
[ PR Newswire ]
03/06/2002 10:17
VH1 Radio to Broadcast Live From Grammy Awards on XM
[ PR Newswire ]
02/26/2002 11:44
XM Radio Delivers Four-Day Celebration of Grammy Awards; Plays All Nominated and Winning Songs in Major Categories, Airs Exclusive Reports from Correspondents in LA
[ PR Newswire ]
02/25/2002 10:34
Sirius, XM and ASCAP Reach Music Licensing Accord
[ BusinessWire ]
02/20/2002 13:47
Entertainment Weekly Gives XM an 'A'
[ PR Newswire ]
02/20/2002 09:37
XM to Air Global Forum With U.S. Secretary of State Colin Powell On MTV Radio Channel
[ PR Newswire ]
02/14/2002 09:06
Four US Cities To Get Sirius Satellite Radio
[ Dow Jones Business News ]
02/14/2002 00:37
XM Satellite Radio, DirecTV In Marketing Pact
[ Dow Jones Business News ]
02/13/2002 10:55
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Alpine Expands XM Radio Products at Retail
PR Newswire, Monday, March 11, 2002 at 13:55
/FROM PR NEWSWIRE WASHINGTON DC 202-347-5155/ [STK] XMSR [IN] RAD AUT ENT CSE [SU] -- WITH PHOTO -- TO BUSINESS, TECHNOLOGY AND ENTERTAINMENT EDITORS:
Alpine Expands XM Radio Products at Retail
New Universal Controller Device, Coupled with Tuner,
Enables Any Existing Car Stereo to Receive XM
WASHINGTON, March 11 /PRNewswire-FirstCall/ -- Alpine XM universal controllers have arrived at retail stores across the country. The device enables any existing car head unit to receive XM Satellite Radio's 100 coast- to-coast digital channels when coupled with an Alpine XM tuner.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
The CRA-1667RF XM Radio/Changer Controller by Alpine Electronics of America, Inc., the industry-leading manufacturer of high-performance mobile electronics, allows the XM listener to change channels and to access information including the song title, artist and channel name. Alpine has built into the units a host of easy-to-use features such as a spin dial, a backlit display that shows both the channel number and name, an FM modulator that can connect to any stereo and outputs that directly connect to any stereo with an auxiliary input. The controller, which is about the size of a jumbo pack of chewing gum, can be installed anywhere in the driver's area and retails for approximately $80.
"The Alpine CRA-1667RF Controller makes a compelling addition to XM's radio lineup," said Robert Acker, XM's Vice President of Product Marketing and Strategy. "Alpine's legions of loyal electronics consumers now have another exciting and affordable way to get XM Satellite Radio."
"Many people are happy with the sound in their cars, but don't have the latest technologies like XM's satellite radio service," said Stephen Witt, Alpine's vice president of Brand Marketing. "Alpine has a long history of leadership in optimizing new technologies for the mobile environment and this controller brings tremendous value to the consumer by allowing them to add XM Radio, MP3 playback and DVD without having to replace their entire system."
Alpine's CRA-1667RF XM Radio/Changer Controller allows consumers to seamlessly integrate XM Satellite Radio capabilities and a CD/MP3 changer or CD/DVD changer with almost any existing OEM or aftermarket system. Alpine also offers seven head units and an in-dash A/V Mobile Multimedia Station(TM) that are all XM-Ready.
Consumers who purchase the CRA-1667RF for XM access will also need an Alpine TUA-T020XM tuner module, which costs approximately $280, and an antenna, which begins at around $49. The controllers and tuner modules are available at all Alpine Authorized Independent Specialist retailers and Circuit City, Tweeter, Good Guys, Car Toys, Audio Express, Myer-Emco, 6th Ave., Sound Advice and Ultimate Electronics.
XM (NASDAQ:XMSR) is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24-hour news sources available in the home on cable and DIRECTV.
XM was named "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 CES, including "Best of CES" in the automotive category. General Motors in November rolled out factory-installed Delphi-Delco XM radios in Cadillac DeVille and Seville models, and will expand to 21 additional GM models this year. XM's strategic investors include America's leading car, radio and satellite TV companies -- General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV. For more information, please visit XM's web site: http://www.xmradio.com .
About Alpine Electronics
Alpine Electronics specializes in an integrated platform concept for mobile multimedia with premium components for digital audio/video media playback, digital broadcast reception, security and satellite linked navigation. With research and development facilities in Asia, Europe and the U.S., Alpine is the global leader for in-vehicle navigation systems in Japan, North America and Europe for both after-market and OEM factory installations. Alpine Electronics is a consolidated subsidiary of Alps Electric Co., Ltd., one of the world's premier manufacturers of electronic components for computer, communications and car electronics equipment. Alpine is the Alps Group's specialized supplier of high quality mobile electronics systems. Visit Alpine at http://www.alpine.com to learn more about mobile multimedia excellence or http://www.alpine1.com to find the closest dealer.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8-K filed with the Securities and Exchange Commission on 12-6-2001. Copies of the filing are available upon request from XM Radio's Investor Relations Department.
SOURCE Alpine Electronics and XM Satellite Radio
-0- 03/11/2002
/CONTACT: John Rafacz, +1-310-248-5454, or john@fdpr.com, or Heidi Davis, +1-207-363-8575, or heidi@fdpr.com, both of Faiola Davis PR, for Alpine; or Charles Robbins, +1-202-380-4316, or charles.robbins@xmradio.com, or Kristine Ludecke, +1-202-380-4132, or Kristine.ludecke@xmradio.com, both of XM Satellite Radio/
/Photo: Newscom: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840/
/Web site: http://www.xmradio.com
http://www.alpine.com
http://www.alpine1.com/
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:XMSR XM Satellite Radio Holdings Inc. (NM)
XM Satellite Radio Holdings Inc.
XM Draws Awards From Three Top Trade Magazines
[ PR Newswire ]
03/12/2002 10:44
Alpine Expands XM Radio Products at Retail
[ PR Newswire ]
03/11/2002 13:55
XM Premieres Never-Released Bob Marley Song And New CDs From UB40 and Jazz Legend Paul Hardcastle
[ PR Newswire ]
03/06/2002 10:17
VH1 Radio to Broadcast Live From Grammy Awards on XM
[ PR Newswire ]
02/26/2002 11:44
XM Radio Delivers Four-Day Celebration of Grammy Awards; Plays All Nominated and Winning Songs in Major Categories, Airs Exclusive Reports from Correspondents in LA
[ PR Newswire ]
02/25/2002 10:34
Sirius, XM and ASCAP Reach Music Licensing Accord
[ BusinessWire ]
02/20/2002 13:47
Entertainment Weekly Gives XM an 'A'
[ PR Newswire ]
02/20/2002 09:37
XM to Air Global Forum With U.S. Secretary of State Colin Powell On MTV Radio Channel
[ PR Newswire ]
02/14/2002 09:06
Four US Cities To Get Sirius Satellite Radio
[ Dow Jones Business News ]
02/14/2002 00:37
XM Satellite Radio, DirecTV In Marketing Pact
[ Dow Jones Business News ]
02/13/2002 10:55
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AP today
CEO discusses XM Satellite Radio's competitive landscape in Wall Street Transcript InterviewHUGH PANERO is President and CEO of XM Satellite Radio Inc.
New York City, New York, Mar 08, 2002 (The Wall Street Transcript via COMTEX) Nine analysts and top management from sixteen sector firms examine the consumer sector in this special 119page Bear, Stearns & Co. 15th Annual Media, Entertainment & Information Conference issue from The Wall Street Transcript, available at (212/9527433) or http://www.twst.com/info/info502.htm
TWST: Could we begin with a brief historical sketch of XM Satellite Radio Holdings (Nasdaq:XMSR) and an overview of what you are doing at the present time?
Mr. Panero: The company was awarded an FCC license to provide national satellite radio in 1998. When I arrived at XM, there was an FCC license and a CFO. Over that period of time we have raised about $1.6 billion in capital, we have completed the technological rollout of our service, both with the launching of satellites and the construction of a terrestrial repeater network, and most importantly, we have delivered XM radios with a proprietary chip set technology included to retail stores across the nation. We launched this service in two lead markets, Dallas and San Diego, and then 45 days later, on November 12, we went nationwide. We had our first earnings call as a commercial company on January 24, 2002, when we reported that we had 30,000 customers.
TWST: Can you give us a sense of the competitive landscape?
Mr. Panero: There are two companies that have been awarded what's called a DARS (Digital Audio Radio Service) license, one to XM and one to Sirius Satellite Radio. Sirius was reportedly a year ahead to market of XM but they have had trouble executing their business plan, particularly their technology, and XM now has at least a ninemonth lead to market in providing a national service.
TWST: What did you do to move ahead so rapidly?
Mr. Panero: Besides just executing our business plan, our ability to overtake our competitor to market was based on our proven chip set technology and ability to integrate this technology into retail radios being manufactured by Pioneer, Alpine and Sony. However, it's a pretty big market and the real prize is for satellite radio to become an integral part of the audio landscape, which is what both companies are trying to do.
TWST: Could you sketch out your plan for the next two or three years?
Mr. Panero: Our plan is to methodically continue to execute our business plan as detailed on our recent earnings call. We laid out some subscriber guidance for the company, which would call for 70,000 customers at the end of the first quarter of 2002, 130,000 at the end of the second quarter of 2002, and we project 350,000 customers at the end of 2002. And then continue to grow the business and build the base of customers for what is this exciting new service, which has been proclaimed Product of the Year by Fortune magazine.
TWST: Could you expand on the nature of satellite radio, what it does for the customer?
Mr. Panero: It offers 100 channels, digital quality, coasttocoast service. It will do to radio what cable and DBS have done to the television industry, and that's provide more choice, quality, and convenience. We have 71 music channels, 60 or more which were assembled originally here in our facility. We have live programming in the areas of blues, jazz, reggae and other formats that currently don't exist on terrestrial radio, which as you know, is a very homogenized audio environment with 70% of the radio stations only using one of five mass market formats, which obviously prevents some very popular, but niche oriented music from making it on to local radio like jazz, or blues, or reggae. And we complement our music channels with 29 news, sports and talk channels from companies like Fox News, CNN, Headline News, CNBC, BBC World Service, and CSPAN among others. So for the first time you get the same 24hour news coverage from these trusted names in news in your car that you are used to getting at home as well as other services from companies like Discovery, E! and NASCAR; XM is offering the first 24hour, dedicated NASCAR channel. We've shown the college championship bowl series, the NBA AllStar game, the World Series, and the combination of those exciting sports events with our dedicated music channels makes this a very compelling service in the car.
This special conference issue includes:
1) Large Cap Entertainment Stocks In an indepth (1,100 words) Analyst Interview, Raymond Lee Katz, Senior Managing Director at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
2) Publishing & Information Services In an indepth (3,400 words) Analyst Interview, Kevin Gruneich, Senior Managing Director at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
3) Outlook for Broadcasting Stocks In an indepth (4,300 words) Analyst Interview, Victor B. Miller, IV, Senior Managing Director at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
4) Advertising & Marketing Services In an indepth (1300 words) Analyst Interview, Alexia Quadrani, member of the media equity research team focused on advertising and marketing services, database management, direct mailer, and outsource marketing services stocks at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
5) Outlook for Interactive Entertainment In an indepth (1,600 words) Analyst Interview, Jeff Vilensky, Interactive Entertainment and Digital Media Equity Research Analyst at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
6) European Broadcasting & Entertainment In an indepth (816 words) Analyst Interview, Nicholas Bell, Analyst that focuses on European media stocks at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
7) European Publishing & Information Services In an indepth (3,300 words) Analyst Interview, Brendan Hoey, Associate Director in European equity research at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
8) European Cable Industry In an indepth (1,400 words) Analyst Interview, Ruth Belbin, Eastern European Telecommunications Analyst at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
9) Outlook for Asian Media In an indepth (706 words) Analyst Interview, Andrew Collier, Asian Media Analyst at Bear, Stearns & Co., examines the outlook for the sector and shares specific stock recommendations.
10) CEO interviews (average 2,500 words). Top management of sixteen sector firms examine the outlook for their firm and the sector.
This interview is a small excerpt from a comprehensive interview published in The Wall Street Transcript on 03/04/02.
Hugh Panero CONTACT: The Wall Street Transcript Corporation 67 Wall Street, 16th floor, NY, NY 10005, USA (212) 952 7433 (212) 668 9842 info@twst.com URL: http://www.twst.com The Wall Street Transcript is a premier weekly investment publication interviewing market professionals for serious investors for over 36 years.
Copyright 2002 Wall Street Transcript Corp.
Roundup/Jim: Great post, thanks for the insight!
2 News leaks:
1) I am told the Freightliner deal should be announced very soon from. XM had targeted this company but I am told that a written agreement has now been signed. Freightliner, as you are likely aware, makes about 40% of all US made trucks in America. So that should help the OEM truck market enormously.
I love my PNP and wondered how the truck market would relate to the PNP, since it is cheaper than the mirrior mounted antennas.
Could the pnp antenna be fastened with velcro anywhere you would like it to be, even on the top of the trailer?I have an industrial velcro which is damn near impossible to get apart for my radar detector. Radio Shack carries it I believe. It is extremely agressive.
If it would work someone gets a whole unit for a rig for $270 and it is portable, short of all the velcro.
2) It was also leaked that during the Daytona 500, and when the Sports Ilustrated put XM as a center fold in the Swim Suit Issue, a little while ago, XM acquired close to 15,000 subs in a very few days. If this turns out to be valid the subs for 1st Qtr 2002 should be fine. Much More importantly if this is valid then XM acquired about 50% of what it did for subs in the first 6weeks in 2001, which was 30K subs.The significance of this would be that ordinarily in electronics XMAS sales account for up to 60%-70% of annual.
So if this leak is true, this is a real coup.
The above are two leaks which I have heard recently, and personally place a 50% probability in. ** Although I have not gone and bought any stock based on them, at this point* they are merely rumors and nothing more. Nice if they happen, guess we will see.
Just some fun, speculative math to illustrate revenue potentials:
XM commercials should be replaced as the audience grows, then the paid advertisers should take over the current XM spots. When this happens the math indicates that :
6mins per hour of commercials, times 60 stations = 600mins x $100/min fee= $60,000/hr time X 12hrs/day(50% capacity)= $720,000/day(at a 50% level) x 350 days/ yr =$252,000,000/yr in advertising revs.
This is in adittion to subscriber revenue. The total market estimated at 45 million users(2 independent firms) taking 20% = 9,000,000 subs/yr x $120 per yr sub chg =$ 1,800,000,000. (in 10yrs).
Potentially this stock has a huge amount of revenue and if you are less conservative than me the numbers grow expotentially.
Thanks again,
john
Take a look all the XMSR AP news of the month+
Here's the site:
http://news.moneycentral.msn.com/ticker/rcnews.asp?Symbol=xmsr
ezcomngo2, guess it is tag, and ure it! _ 3/1 Volumes: I think were in general good due to the NAZ & DOW having a super day 3/1.
**As they say when the tide is out few boats float, and when the tide comes in it lifts all boats.
XM & Gen. market
No news was announced for XM 3/1 that I am aware of, but the market was way up. Theory I heard was that if the institutions have tons of cash, and the markets take off, the managers are screwed. So they jumped in when good numbers on the Trade Def came out, good productivity #s hit, car production pickup, GM saying picture is the best in 18 months, and the GWB saying it is time for SSI and stocks to both be components of SSI retirement soon.
Problem will be what happens after Oracles negative earnings were announced after the bell FRI. Does the market ignore it next week, w/o 02/03 or does it go south some. Only $.01/shr off so I hope it is a non event,but techs now are volatile.
Siri:
Siri will quite likely come along, but it has to play serious catch up and it is now about 9 months behind with a cash burn and no revenue of consequence yet announced. Ford doesn't want XM due to it hating anything which GM has for a supplier. But if there is no choice, hmmmmm?
Personally, I think XM in the 10-13 range is a good deal, and Siri in the 3.50-4 is also a good deal,(though stocks under $5) make
investment non existent usually for institutions. Many institutions can't even pour money into a stock until it breaks $10.
Have a great weekend, we will catch up sometime!
XM There is some potentially huge news under cover which I am trying to verify and if what I heard is accurate XM is a real gimme let you know if I find out.
Good luck!
john
XM Satellite Radio Holdings Consensus Recommendation: Buy
Feb 25, 2002 (Nelson's Broker Summaries via COMTEX)
Company: XM Satellite Radio Holdings (NMS:XMSR) Consensus Recommendation: Buy (Strong Buy: 4, Buy: 6, Hold: 1, Underperform: 0, Sell: 0) Quarter Consensus Estimate [Q1]: 1.32 FY Consensus Estimate [FY2002]: 5.64 Next FY Consensus Estimate [FY2003]: 4.35 Industry: MediaBroadcasting Media
http://www.nelnet.com
Copyright 2002, Nelson Information, a Thomson Financial company
ezcomngo2- guess 6 days is a long time for Siri. Now there are serious doubts about the launch, the chips are in trouble and the stock price for Siri is toileting, down about 25% since its launch, while XM is off some, but holding. Several law suits are pending against Sirus, XM has none, Sirus in danger of violating debt covenents according to analysts, and the projected 200,000 subscribers by the end of the year is in big trouble.
All in ALL I would say, do as I did and cut your loss, take the proceeds and buy XM when it falls to 9-10 as it probably will before fall.
I lost this last time on Siri, but had done ok til then, hope you do too.
good luck,
john
SDARS Opinion Satellite stations signal a challenge to free radio
MICHAEL POSNER
Wednesday, February 13, 2002
Would you pay $10 a month to listen to radio? Before you summon medics to treat my
precipitous slide into derangement, consider this: The $10 would buy 100 discrete
channels and offer every conceivable musical genre (plus news, talk, sports and comedy
formats). It would give you access to a static-free digital signal, delivered via satellite,
available in every part of the country. And best of all, there would be few if any
annoying or distracting ads.
Still not convinced that the era of free radio might be threatened? Well, some mighty
corporations, including General Motors, DaimlerChrysler and Clear Channel
Communications (the largest single owner of conventional AM-FM stations), are betting
you're wrong. They're staking hundreds of millions of dollars on the notion that satellites
will do to radio what cable and satellite technology did to television: Fragment the
market and improve the programming product.
Already, XM Satellite Radio is up and running in the United States (and, after five
months, claims 30,000 subscribers); its rival, Sirius Satellite Radio, goes live on
Valentine's Day in three U.S. markets, with a rollout nation-wide by the end of October.
(Neither service, for now, will be offered in Canada.)
Taking principal aim at 208 million registered motorists who listen 50 minutes a day on
average to radio, the satellite sellers will each need at least four million subscribers to
reach break-even. XM is allied with GM, which has bought a 20-per-cent-plus equity
stake and will offer satellite radio as an option on 23 new car and truck lines this fall.
Sirius, which has a Canadian connection (former chief executive officer and current
$200,000-a-year (U.S.) board chairman David Margolese, who founded Cantel), has
signed similar pacts with Ford and DaimlerChrysler (a 39.5-per-cent shareholder) for the
2003 model year. You can also equip existing cars with satellite radios (from Kenwood,
Alpine and Clarion), and Sony offers a $399 portable unit for use in cars and out.
The past few years in Radioland USA have been marked by a fever of acquisition and
consolidation; there are 25 per cent fewer owners than there were only five years ago.
To offset higher debt loads, owners have increased commercial minutes from eight to 14
minutes an hour, with corresponding cuts in time available for music, news and talk.
Fewer commercials and a clearer signal are major benefits of satellite, but the bottom
line here is content; the product is vastly superior. In addition to all the predictable pop
and rock material, XM, for example, devotes six separate channels to jazz and blues, and
dedicates others to big band, Broadway, Latin, world, classical and movie music. Sirius's
60 musical categories are broadly comparable, while its 40 other channels (licensed from
the likes of Bloomberg, Fox, CNN and National Public Radio) are divided between news,
sports, Hispanic, lifestyle and entertainment.
Compared with this, standard AM-FM programming is very thin gruel. Increasingly part of
conservative media conglomerates, program managers have blandly homogenized a
narrow range of formats (adult contemporary, talk, rock, country and western, etc.), so
that stations from Bangor to Walla Walla sound virtually identical; the only thing that
changes is the local weather forecast.
At a minimum, therefore, the arrival of satellite radio will likely engender a rare but
welcome spasm of creativity from conventional programmers, trying to play catchup.
But new technology is seldom neutral. A darker scenario is therefore possible, perhaps
even probable. The flight of audiences to satellite services will push some AM-FM
stations into outright bankruptcy. Smaller operations, denied economies of scale, may be
embraced by bigger players. The result: an even further degree of ownership
concentration and, for news, more centralization and fewer independent sources of
information.
Alluring as satellite radio may be, it thus fits the broader social pattern -- drowning us in
entertainment, unable to discern what's actually going on.
mposner@globeandmail.ca
http://news.globetechnology.com/servlet/GAMArticleHTMLTemplate?tf=globetechnolog
y/TGAM/NewsFullStory.html&cf=globetechnology/tech-config-neutral&slug=MEPOSN&dat
e=20020213
SIri News 2-14-02
DJ Four US Cities To Get Sirius Satellite Radio
DENVER (AP)Sirius Satellite Radio (SIRI) is set to offer its 100 commercialfree stations Thursday in four cities, launching a battle against a competitor that beat it to the market.
The challenge is persuading listeners to pay $249 for a receiver and antenna and a $12.95 monthly fee to hear the music.
The launch comes after months of delays that let competitor XM Satellite Radio (XMSR) roll out its service nationwide last year for $9.99 a month. XM now has more than 30,000 subscribers with 350,000 expected by the end of the year. Sirius won't be national until Aug. 1, although it is airing its programs over the Internet.
Lehman Brothers analyst William Kidd said the satellite sector has had some highprofile failures, but XM's launch is encouraging.
"The future of satellite radio is far from proven, but XM's start is better than all of the recent forays that we've seen," Kidd said. "It harkens back to the days of DirecTV's launch."
Sirius has raised about $1.8 billion to offer its music, news and sports channels in Denver, Houston, Phoenix and Jackson, Miss., by Thursday, senior vice president Doug Wilsterman said. XM has raised $1.6 billion.
Sirius is available only in vehicles but the company is developing a system that could be heard in buildings. XM is available in both vehicles and buildings.
Executives say their research suggests residents in the launch cities are more willing to spend money to try new technology.
Sirius CEO Joe Clayton was sold on satellite radio after he took it for a test drive with his wife and five children from Rochester, N.Y., to Detroit. His wife listened to swing music, his children heard hip hop and Clayton got to hear his bluegrass without static or having to change stations from state to state.
With Sirius, he's using the same plan he used to launch DirecTV while he was with the TV service's codeveloper, Thomson Multimedia even including DirecTV launch city Jackson, Miss., among Sirius launch cities.
Yet DirecTV is backing XM and announced Wednesday it was offering special deals to customers to get satellite radio service.
Sirius plans to entice listeners with moneyback guarantees, equipment rebates and price breaks for fullyear subscriptions.
XM also offers deals on its Web site to lure subscribers.
"Being first doesn't guarantee success," Clayton said.
Sirius says its technology offers better sound than XM's without commercials. Besides hits and obscure finds, its vaults include 170 live performances recorded in Sirius studios in New York.
"Where we're the same is we both sell nationwide service," said Wilsterman of Sirius. "It ends there."
XM rebroadcasts a few conventional stations, such as KROQ in Los Angeles, and listeners occasionally hear commercials. But it has 1,000 repeaters to make sure signals beamed from its satellites to subscribers' radios don't get blocked by buildings or other obstacles. Sirius has 88.
Both have exclusive deals with carmakers. GM plans to make XMready radios an option in 23 models next year. Sirius has lined up agreements with Ford (F), BMW (G.BMW)and DaimlerChrysler (DCX).
Receivers for each service cannot be used to pick up the other company's signal, although the companies say that could change in the next decade.
At Sirius, programming from New York is sent to satellites that beam signals back to users' receivers.
In a model displayed in a BMW X5, a touch screen mounted above where the car radio should be displays programming menus, preset buttons, and song and artist names.
Kidd said Sirius and XM both have the potential to do well.
"We really think we can do for radio what cable did for TV," said Steve Cook, XM's executive vice president of sales and marketing.
Just a good in depth look at XM by the analysts:
http://www.quicken.com/investments/estimates/?symbol=xmsr
XM Satellite Radio (XMSR: news, chart, profile) rallied more than 6 percent after
the company announced a marketing agreement with Hughes Electronics's
(GMH: news, chart, profile) DirecTV unit. Analyst John Stone at Ladenburg
Thalmann said XM Satellite struck the "mother lode," as DirecTV subscribers
offer a "nearly ideal demographic" for distributing XM Radio.
02-13-02 XM Satellite Radio and DIRECTV Announce Joint Marketing Agreement
WASHINGTON, Feb 13, 2002 /PRNewswire via COMTEX/ XM Satellite Radio (Nasdaq: XMSR), the nation's leading satellite radio service, and DIRECTV, Inc. the nation's leading provider of digital satellite television entertainment, today announced a joint marketing agreement designed to help drive XM subscriber growth by giving DIRECTV satellite television customers valueadded offers for XM. Specific elements of the proposed marketing program were not disclosed.
(Photo: Newscom: http://www.newscom.com/cgibin/prnh/20000724/XMSATLOGO )
"DIRECTV customers already understand the advantages that come with satellite entertainment programming variety, superior reception and great value," said Hugh Panero, XM's president and CEO and Roxanne Austin, DIRECTV president and COO, in a joint statement. "XM looks forward to providing DIRECTV customers with a premier nationwide radio service for the car and home that revolutionizes radio the same way DIRECTV revolutionized television."
XM is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coasttocoast digital channels: 71 music channels, more than 30 of them commercialfree, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24hour news sources available in the home on cable and DIRECTV.
XM radios are available at major electronics retailers nationwide including Best Buy, Circuit City, Tweeter, Ultimate Electronics, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers. Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios including models that will easily enable any existing car stereo system to receive XM service (the Pioneer Universal Receiver and the Sony PlugandPlay) and 21 models of new AM/FM/XM systems offering many other great features. General Motors in November rolled out factoryinstalled DelphiDelco XM radios in Cadillac DeVille and Seville models, and will expand to 21 additional GM models this year. XM's strategic investors include America's leading car, radio and satellite TV companies General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV.
XM was named "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 International Consumer Electronics Show, including "Best of CES" in the automotive category. For more information, please visit XM's web site: www.xmradio.com.
About DIRECTV, Inc.
DIRECTV is the nation's leading digital satellite television service provider with more than 10.7 million customers. DIRECTV and the Cyclone Design logo are trademarks of DIRECTV, Inc., a unit of Hughes Electronics Corporation. HUGHES is the world's leading provider of digital television entertainment, broadband services, satellitebased private business networks, and global video and data broadcasting. The earnings of HUGHES, a unit of General Motors Corporation, are used to calculate the earnings per share attributable to the General Motors Class H common stock (NYSE: GMH). Visit DIRECTV on the World Wide Web at http://DIRECTV.com .
Factors that could cause actual results to differ materially from those in the forwardlooking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8K filed with the Securities and Exchange Commission on 1262001. Copies of the filing are available upon request from XM Radio' s Investor Relations Department.
SOURCE DIRECTV, Inc. and XM Satellite Radio
LemonHead: XM I got mine at a CC, but BB, Sears,Radio Shack, Tweeder,Good Guys,Car Toys, Crutchfield, and private installers have them too, for a total of 6000 distribution points by year end. You might use the puter to find the 800# for the store closest to you, and see if they have them. They should be in stock, but if you are finding them not to be, please let me know and I will see if I can provide feedback for XMSR.
My sony pnp is neat cause you can bring it indoors, plug it into your cassette part of the stereo, then plug it into the wall. Use a model 22-501 power supply adapter from Radio Shack, has a 12vdc 1000amp output, I am told you need that capability. It costs about $11. Then you get the 100 channels inside, just put the antena in a south window. Just don't do a permanent installation in the car when you get it, if you think this is an idea, or your kinda screwed.
Stock:
The fundamentals on this stock will look like dog do, due to it being a heavily capitalized, startup 1-2billion, and its revenues just barely starting Nov. 14th 2001. But the $1/2 M in sales for 01 was mostly 6weeks. If it takes off, like I think it should, a market of 48M potential subscribers x $120/yr., plus ad rev., less GM kicks etc. is tremendous. After breakeven, and GM, it is a very low cost and highly profitable business model. IMHO, it is a long term play, but with a certain amount used to trade along the way.
XM stock: Crysta ball
It should move well in another 6-9months, if not before with unscheduled news. The news could be: a problem with Siri launch, or the Siri chips, and then Ford coming over to XM, or Toyota or VW linking up, as of yet they are undecided. Maybe a big boost breaking thru on the truck market, XM deals with Freightliner now. They make 40% of the trucks in the US. So there are some extraneous things which may occur. Ultimately, if the March Subscriber #s ytd blow the estimate away then this thing will shoot up in early Mar, as news leaks. If not and the #s are as projected it will be gradual climb until auto oem reports in 4th qtr.
*Boeing has a 60 million dollar stake also in XM along with Hughs/GM, nice having a multi year contract with you largest customer. This will cause GM to promote the concept as much as possible.
If this goes, as some tout it, the next cable TV, it will make many people very wealthy; if not I guess you can say you knew me when a still had a few bucks.
Good Luck
john
LemonHead_ I have a sony pnp in my car and it's great. It's neat to drive 300 miles+ and no static and keep the same channel without hardly losing a beat. I have a Honda and it had horrendous sound prior to the XM, but the sony pnp converts thru the tape deck and consequently it improved the sound phenominally.
Did you get any of the stock?
Good Luck,
john
Aim Guy_ Thanks for you interest and your help!
john
rich2341- JMHO, the industry needs both stocks to propell the concept. The issue is concept acceptance, obviously without good subscription #s, since neither company makes radios, or has much advertisement revenue, it will be a concept acceptance/cash burn issue while they build subscribers.
So far the # of subscribers for XM was about 30k, from its rollout in Nov, til the first week in 02. Additional XM subs are estimated at 17k for Jan 02, and xm's projected 1st qtr sub #s are 70K thru Mar. If they continue to have sucess with subs then this will rocket. The capital expenditure was phenominal and the breakeven is estimated at 4M subs,
but after this is reached, in an estimated market of 48M, well, you can do the math!
Siri_ has their regional rollout this week I believe, 3 or 4 cities - They are in a somewhat more precarious position at the moment, due to continual delays they are now seen as about 9-12 months behind XM. If however their planned rollout goes off without issue, which I think it will, and the reception is good with no chip issues, then they will be well on their way. They are scheduled to have Ford, Jag, BMW and others for the Auto oem installers in the year 03. Siri's breakeven # of subs is 25% less than XM's, it is placed at 3M subs.
**Acceptance of the concept, and time to market are key issues for both companies, jmho.
I have owned both but currently only xm. Siri is price wise about where XM was a few months back if you review the charts. So it may very well be a very good play once the chip issue is settled for sure. These stocks are very volatile as you have said and are fun to be involved with, since they are truly the cutting edge for the industry!
Both stocks need subscriptions, but the concept is fantastic and I love my XM.
Good Luck,
john
Serious problems for Sirius?
Salomon SB favors XM Satellite in satellite radio race
By Susan Lerner, CBS.MarketWatch.com
Last Update: 5:04 PM ET Feb. 6, 2002
NEW YORK (CBS.MW) -- You've heard the hype about satellite radio. Now the first major advance in radio since F-M is finally here.
But XM Satellite hasn't only won the race to bring this technology to the masses; it's also won the favor of Armand Musey over its rival Sirius Satellite Radio.
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"Over the past year, we believe XM has emerged as the leader in the race to provide satellite radio, completing a nationwide rollout in the fourth quarter of 2001 and concluding an agreement with GM for factory installation in 23 of its 2003 models," Musey, the Salomon Smith Barney analyst, said in a note upgrading shares of XM Satellite (XMSR: news, chart) to "outperform" from "neutral."
Although Musey cites the stock's recent pullback as the trigger for the XM Satellite upgrade, it's the company's business model he truly supports.
"We believe that XM Radio's national distribution capabilities should give it the potential to be a widely accepted consumer offering," Musey said. Although widespread availability and rising consumer awareness are anticipated in 2002, he doesn't expect subscriber growth to hit critical mass until after receivers are widely available in automobiles with the introduction from General Motors (GM: news, chart).
Given the XMSR's "nearly flawless execution to date," Musey said he believes the stock represents a pure play on demand for satellite radio.
So if XM is so impressive, why not give it a "buy" recommendation? Despite a $15.50 12-month price target, Musey says he prefers to wait until there is evidence of sales acceleration through original equipment manufacturers. And he acknowledges the possibility of "heavy dilution" that would result from a rumored stock offering.
"We estimate XM will need to seek additional financing before the end of the first quarter of 2003," he said.
Still, the upgrade comes in sharp contrast to Musey's downgrade of Sirius Satellite (SIRI: news, chart) to "neutral" from "outperform" after repeated execution problems resulted in a delay in the commercial launch by over a year and pushed out original equipment manufacturer factory installations until late '03.
"The delay of Sirius OEM rollout to the 2004 model year represents a competitive setback given the importance of this channel," Musey told clients.
And it's not just a competition issue. Musey believes the delay could result in Sirius breaking one of its debt covenants sit it is unlikely the company will generate 200,000 net ads by year-end. This, he said, would likely necessitate the repayment of the company's $150 million Lehman facility. Because he thinks the loan would probably be trading far below par value, this would leave Sirius with only enough funding to operate through the first quarter of 2003.
"We think that Sirius has very little room to maneuver on this matter, and that if execution problems continue the company could have difficulty raising sufficient funds to continue service," he said.
Even though the company has brought in new management to help resolve operational issues, Musey noted that it has still yet to resolve these technology driven issues.
"Sources that we speak with who are closely associated with the receiver manufacturers have indicated to us that Agere's chipset is still not completed in true production form and that Sirius' manufacturing partners are not happy with this situation," Musey told clients. "The current chipset is only a temporary fix."
The stocks reacted as would be expected following Musey's comments: XM Satellite shares popped 97 cents, or 8.4 percent, to $12.56 while Sirius shares fell 33 cents, or 5.3 percent, to $5.95.
But Lehman Brothers was not ready to write-off Sirius.
"We believe Sirius' service launch could be an important catalyst," Lehman analyst William Kidd told clients. "Given that Sirius is on the cusp of having more receiver manufacturers in the market than XM, and that Sirius' receiver partners, Jensen, Kenwood, Panasonic and Clarion, are comfortable enough to have already ordered and built receivers for next week's launch, we are not sure why 'chipsets' are still an issue."
Kidd continues to rate Sirius a "strong buy" with $15 price target.
Susan Lerner is a reporter for CBS.MarketWatch.com.
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***WELCOME TO THE BOARD AND THANK YOU FOR THE INTEREST!
JOHN
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AIM GUY_ glad you are here. This is a great stock and I firmly believe that it is going North long term.
I personally have a Sony PnP and it is phenominal.
Great Luck to you,
john