Introducing HD Radio;Coming Soon to an AM/FM Station Near You
Kenwood to Rollout HD Radio; Ready Receivers in 2003
Industries Bracing Themselves for HD Radio;--Yankee Group Cites Strong Consumer Demand
Columbia, MD and Warren, NJ, August 12, 2002 - iBiquity Digital Corporation, the sole developer of In-Band On-Channel (IBOC) digital AM and FM broadcast technology in the United States, announced today the unveiling of its new trademarked brand name for its IBOC digital AM/FM technology--HD Radio;. According to a recent Yankee Group study, half of all consumers shopping for a car or home receiver in the next year are interested in buying a digital AM/FM radio. Radio is poised for its digital migration to HD Radio;, having relied on analog transmissions for the past 80 years. Leading receiver manufacturer, Kenwood, plans to launch HD Radio-Ready; automotive receivers in 17 of its 23 radio models in 2003.
"We plan to launch product at CES 2003 and look forward to working with broadcasters to offer the new HD Radio; services," said Bob Law, senior vice president, sales and marketing, Kenwood USA Corporation. "We were the first receiver manufacturer to commit to build digital radios and will now be the first to launch receivers with HD Radio; technology."
Ryan Jones, analyst, Media and Entertainment Strategies for Yankee Group stated, "Of all possible features offered by HD Radio; technology, consumers are most interested in its improved sound quality. Yet Interactive digital features, like radio recording and on-screen information, will help fuel consumer demand."
iBiquity Digital's HD Radio; technology (formerly known as IBOC) transforms today's radio experience by allowing AM/FM broadcasters to seamlessly transmit digital quality audio alongside today's analog-based broadcasts. Consumers will receive these enhanced broadcasts with radically improved fidelity and future on-demand interactive audio and wireless data services, including traffic reports, weather alerts, breaking news, sports highlights, market updates, radio program information and much more.
Bob Struble, CEO, iBiquity Digital Corporation said, "The new trademarked brand name HD Radio; tested extremely well in focus groups with consumers, broadcasters, retailers and manufacturers. The name was chosen for the strong image we believe it will create with consumers. Over the next few years, HD Radio; will transform AM and FM into a high definition digital multimedia experience."
About iBiquity Digital (www.ibiquity.com)
iBiquity Digital is the sole developer and licenser of digital AM and FM broadcast technology in the U.S., which will transform today's analog radio to digital, enabling radically upgraded sound and new wireless data services. The company's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom; leading financial institutions, such as J.P. Morgan Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Lucent, Texas Instruments and Visteon. iBiquity Digital is a privately held company with operations in Columbia, MD, Detroit, MI, Redwood City, CA, and Warren, NJ.
