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Lifted from SkyReport.com
Satellite Radio Gets A Boost
DirecTV is investing $50 million in XM Satellite Radio, the planned
satellite-to-receiver broadcasting service aiming to provide listeners
in their car and at home with up to 100 channels of music, news and
entertainment coast-to-coast.
DirecTV's investment is part of a $250 million combined investment in
DARS (Digital Audio Radio Service) licensee XM, which includes
additional contributions from General Motors, Clear Channel
Communications and a private investment group comprised of Columbia
Capital, Telecom Ventures and Madison Dearborn Partners.
Hugh Panero, president and CEO of XM, said, "Our business is delivering
satellite digital radio primarily to the car where most radio listening
is done, and these companies with their respective expertise in the
automotive, direct broadcast satellite, telecommunications and radio
business give new meaning to the term strategic partner."
Another strategic alliance was announced Tuesday by National Public
Radio (NPR) and CD Radio, another DARS contender. As part of the
agreement, NPR will provide programming for two channels on CD Radio's
national digital satellite radio service. CD Radio will be the only
satellite broadcaster of public radio programming nationwide.
The NPR channels will launch at the end of 2000, at which time CD Radio
subscribers will have access to up to 100 channels, including 50
channels of commercial-free music and up to 50 channels of news, talk,
sports, and other entertainment and programming.
NPR will start two channels, featuring new programs developed
specifically for CD Radio, as well as existing public radio shows. It
plans to dedicate one channel - NPR Nationwide - to news, talk and
information. The other channel will focus on entertainment and cultural
features.
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