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Technology Stocks : CDRD (CD Radio) -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (870)	10/4/1999 12:41:00 PM
From: Jeff Vayda	Read Replies (1) \| Respond to of 904

FORD INVESTS $20 MILLION IN CD RADIO (They must have increased the offer when they found out how much FORD wanted. Thanks to Phillips Telecom) Jeff Vayda Ford is investing $20 million in CD Radio Inc. [CDRD], one of two start-up companies that plan to offer satellite-car radio to motorists. William Kidd, an analyst with C.E. Unterberg Towbin, said the investment was part of CD Radio's recent secondary stock offering. In the stock offering, CD Radio executives announced today they had raised a total of $200 million but did not mention the Ford investment. The proceeds from the stock offering will be used for the "continued buildout" of the company's systems and for general purposes, executives said. The investment from Ford, along with General Motors Corp.'s [GM] $50 million investment in CD Radio's main competitor, is a strong sign that the automotive industry has faith in the satellite-to-car radio concept. CD Radio's main competitor is XM Satellite Radio Inc. [SKYC].