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Technology Stocks : CDRD (CD Radio)

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To: Chang-Shing Perng who wrote (245)	10/7/1997 12:33:00 PM
From: Candle stick	of 904

If this is the news that pushed the stock up, get ready for a quick decline......this is nothing but hyping up an already well know fact from 6 months ago, CDRD got a license from the FCC........... CD Radio Completes License Payment WASHINGTON (Oct. 7) BUSINESS WIRE -Oct. 7, 1997--The Federal Communications Commission announced yesterday that it is ready to grant a satellite radio broadcast license to CD Radio Inc. (NASDAQ: CDRD). In announcing that it is prepared to grant the license, the FCC directed that the balance of payment due for the license be paid. CD Radio today paid $66.7 million in completion of payment for its license. The company had previously deposited $16.7 million for the license. The total amount paid for the license was $83.3 million. CD Radio is the winning bidder for one of two FCC national satellite radio broadcast licenses. The company is building a satellite-to-car 50 channel radio system for the broadcast of music and other programming to motorists throughout the United States. -0- al/ny* rg CONTACT: David Margolese, 202-296-6192 or www.cdradio.com KEYWORD: DISTRICT OF COLUMBIA INDUSTRY KEYWORD: ENTERTAINMENT TELECOMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com

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