Hmmmm - I wonder who is providing the 'tiny dishes'?
From Briefing.com
CD RADIO INC (CDRD) 13 1/4 +5 7/8. Stock has advanced 80% on news the company and a unit of American
Mobile Satellite Corp (SKYC 11 1/2 +11/16) each won a license in a government auction to provide a
nationwide radio service that will be delivered via satellite and offer CD-quality reception. CD Radio
agreed to pay $83.3 million for one license, while American Radio Corp anted up $89.9 million for the other. CD Radio
said it expects to have its service operational by the second-half of 1999, delivering 50 stations of news, entertainment,
and other programs. The company expects to invest more than $500 million in the network and the launching of a pair of
satellites. American Radio plans to have its services up and running within 3 years, delivering 25-35 channels of
programming. Yesterday, after 22 rounds, CD Radio led the bidding with an offer of $83.3 million, while American
Mobile Radio had bid $80.9 million for the other license. Earlier this month, the FCC cleared the way for this new
technology, called digital audio radio service, or DARS. The service will be received by individuals equipped
with tiny, disc-shaped antennas and special radios. Users will likely be charged a monthly subscription
for the service. The service will probably target motorists, particularly commuters, truck drivers and others who
spend a lot of time in their cars. |
