XM Satellite Radio Announces Strategic Investment In WorldSpace

SPACEMART

Washington (SPX) Jul 20, 2005
XM Satellite Radio announced Tuesday that it has made a strategic investment of $25 million in the common stock of WorldSpace, a satellite radio provider for Asia, Europe, the Middle East and Africa.

In connection with the investment, XM will cooperate with WorldSpace to develop satellite radio products, technology and distribution and supplier networks.

In addition, XM will have warrants to acquire $37.5 million in additional WorldSpace stock and an option to invest along with WorldSpace and other partners in various countries around the world.

"We look forward to becoming a strategic investor in WorldSpace's worldwide satellite radio system and advancing satellite radio technology and reach through our cooperative efforts," said Gary Parsons, Chairman, XM Satellite Radio.

Through its subscription-based service, WorldSpace broadcasts news, music brand name content and educational programming to a global service area and targets its programming to consumers, governments, and other organizations.

The company utilizes its two geo-stationary satellites, AfriStar and AsiaStar, and its ownership of spectrum licenses to deliver more than 100 digital quality audio channels per satellite as well as multimedia content directly to WorldSpace Satellite Radio receivers.

SPACEMART

Globalstar Opens Satellite Gateway In Sebring

Milpitas CA (SPX) Jul 15, 2005
Globalstar announced Thursday enhanced service coverage in Florida, the Gulf of Mexico, and the Caribbean with the opening of a new Globalstar gateway in Sebring, Florida.