OG--Visteon Announces Agreement With XM™ For Satellite Radio Delivery In The U.S.
DEARBORN, Mich., Jan. 3, 2001 – In keeping its promise to deliver innovative technology that helps keep consumers linked to the world around them, Visteon Corporation (NYSE: VC) today announced that it has signed an agreement with XM™ Satellite Radio (NASDAQ: XMSR) to help bring the next generation of audio entertainment to both drivers and passengers alike.
By combining Visteon's vehicle systems and multimedia expertise with XM's 100-channel audio entertainment service, the two companies anticipate providing consumers with the ability to listen to as many as 100 new radio channels from coast-to-coast, covering such formats as music, news, talks, sports, entertainment and children's programming, 24 hours a day, seven days a week.
Under terms of the agreement, Visteon and XM™ will partner to design, develop, manufacture, market and license XM™ satellite radio technology receivers.
"We're excited about the possibilities that this new relationship will bring both Visteon and XM™," said John Slosar, North American and Asian Strategic Business Unit Director of Visteon's Telematics/Multimedia Business System. "This agreement is just one more example of our dedication to provide consumers with what they say they want and need. In this case, we look forward to providing them with radios that are capable of accepting XM's satellite transmissions."
In addition to excellent sound and reception quality, the satellite radio product will display additional information for listeners, including the channel name and number, artist and song title.
"We look forward to working with Visteon, a world renowned supplier of automotive technology and presenting the XM™ sound experience to their automotive customers," said XM's Vice President of Retail, Marketing & Distribution, Dan Murphy.
Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has a global delivery system of more than 130 technical, manufacturing, sales, and service facilities located in 23 countries. It has 81,000 employees working in three business segments: Dynamics and Energy Conversion; Comfort, Communication and Safety; and Glass.
XM™ Satellite Radio will create and package up to 100 national channels of digital sound. Using two high-powered satellites, the first of which is scheduled to launch on Jan. 8, 2001, XM™ will provide seamless coast-to-coast coverage of music, news, sports, talk, comedy and children's programming. Through its partnerships with leading auto manufacturers including General Motors corp., American Honda Motor Corp., Freightliner and Chevy Trucks, XM™will transform radio, an industry that hasn't seen a technological change since FM, almost 40 years ago. XM™-ready radios will be manufactured by such household names as Sony, Alpine and Pioneer Electronics Corporation and sold by automotive and retail outlets such as Best Buy and Circuit City. For more information, please visit www.xmradio.com
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