Sirius Satellite Radio Accelerates National Launch Plans
Reprinted from a Sirius press release:
NEW YORK, March 27 /PRNewswire-FirstCall/ — Sirius Satellite Radio, the satellite radio broadcaster, today announced a series of positive developments in conjunction with the release of the company’s fourth quarter and year-end results.
Headlining these developments, and indicative of service capability
and consumer feedback that have exceeded the company’s expectations,
Sirius today announced it is expanding and accelerating its regional
rollout plan for its satellite radio service. Following the company’s
service launch that began February 14 in Denver, Houston, Phoenix and
Jackson, Sirius will now offer service to 39 states over the next 60
days, with full nationwide distribution available July 1.
Sirius also announced that it has successfully renegotiated the
covenants in its Lehman credit facility, eliminating 2002 requirements
and substantially reducing subsequent year requirements.
ACCELERATED NATIONAL LAUNCH DETAILS/CONSUMER FEEDBACK
Citing rapid market optimization, overwhelmingly positive consumer feedback from its initial launch phase and consumer electronics manufacturers’ readiness, Sirius has expanded and accelerated the rollout of its service offering.
Earlier this year at the Consumer Electronics Show in Las Vegas, the company announced a regional rollout strategy that targeted one city at a time. In accelerating its nationwide rollout, the company will introduce service on a state-by-state basis, beginning in April with Arizona, New Mexico, Colorado, Wyoming, Idaho, Montana, North & South Dakota, Nebraska, Kansas, and Iowa. Nevada, Utah, Oklahoma, Minnesota, Missouri, Arkansas and Louisiana will all be completed by May 1. This will be followed by more states in the Midwest, the South and, finally, the far West and far East sections of the country, completing the nationwide roll out by July 1 instead of August 1.
Sirius radios are currently available in nearly 200 storefronts in the company’s initial markets, including major retail outlets like Circuit City, Best Buy, Car Toys, Ultimate, Tweeter and independent audio specialty dealers. Retail availability will increase dramatically, reaching approximately 3,500 retail outlets by July 1.