Sirius Satellite Radio (Nasdaq: SIRI), the digital satellite radio broadcaster, today confirmed that it is in negotiations with American Honda Motor Co. Inc. to deliver its 100-channel digital satellite radio service to Honda and Acura customers in the United States. The negotiations are expected to lead to an agreement consistent with the unified standard agreement announced by Sirius and XM Satellite Radio in February. Under the unified standard agreement, Honda, along with any other new automaker partners, will deploy satellite radio receivers that can receive both services.
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The unified standard agreement does not affect any automaker agreement in place before February 17, 2000. Sirius has alliances to factory-install Sirius-only receivers in DaimlerChrysler cars and light trucks, including Chrysler, Dodge, Jeep, and Mercedes, and is the preferred service provider for Freightliner and Sterling heavy trucks. Sirius also has alliances to factory-install Sirius receivers in BMW, Ford, Lincoln, Mercury, Jaguar, Mazda, Land Rover, Aston Martin and Volvo automobiles. Sirius also has alliances with leading automotive electronics manufacturers to design and develop receivers for the automotive aftermarket and for installation in new cars. These companies include Alpine, Audiovox, Clarion, Delphi Delco Electronics, Kenwood, Panasonic, Jensen, Sanyo and Visteon.
Sirius Satellite Radio (www.siriusradio.com) is building a digital satellite radio system that will broadcast an unprecedented breadth of unique music and entertainment programming to motorists throughout the continental United States. Sirius plans to offer 50 channels of commercial-free music all created at the company’s National Broadcast Studio in New York City, and up to 50 channels of news, sports and entertainment programming for a monthly subscription fee of $9.95. Sirius’ first satellite is scheduled for launch at the end of June. Sirius expects to begin broadcasting nationally at the end of this year.
As part of its commitment to creating commercial-free music and an unmatched range of audio programming, Sirius has created alliances with critically acclaimed artists and on-air personalities, including Sting, Grandmaster Flash, and MC Lyte, who will have regularly scheduled programs on Sirius Radio. Sirius also has a strategic alliance with the John F. Kennedy Center for the Performing Arts and the National Symphony Orchestra. Some of the world’s foremost creators of audio information and entertainment programming will also have channels on Sirius Radio, including CNBC, National Public Radio, SCI FI Channel, Bloomberg and the BBC. Sirius also has the exclusive right to carry the nationally acclaimed Car Talk on satellite radio.
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 the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in Sirius Satellite Radio Inc.’s Annual Report on Form 10-K for the year ended December 31, 1999. Among the key factors that have a direct bearing on Sirius Satellite Radio’s results of operations are the potential risk of delay in implementing Sirius Satellite Radio’s business plan; dependence on satellite construction and launch contractors; risk of launch failure; unproven market and unproven applications of existing technology; unavailability of Sirius Satellite Radio receivers; and Sirius Satellite Radio’s need for additional financing.