DirecTV sells nine million shares to XM radio for $230 million

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silversurfer

silversurfer

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Sep 8, 2003
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WASHINGTON, March 26 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings
Inc. (Nasdaq: XMSR) announced today that DirecTV Group Inc. (NYSE: DTV), the
owner of approximately 9.0 million shares of its Class A common stock, has
priced a public offering for all of its remaining holdings of XMSR shares for
approximately $230 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
Bear, Stearns & Co. Inc. is the sole underwriter for this offering. The
offering is by prospectus only and a copy of the prospectus can be obtained
from the company upon request.

About XM
XM is America's #1 satellite radio service with more than 1.5 million
subscribers today. Broadcasting live daily from studios in Washington, D.C.,
New York City and Nashville, Tennessee at the Country Music Hall of Fame, XM's
2004 lineup includes more than 120 digital channels of choice from coast to
coast: 68 commercial-free music channels, featuring hip hop to opera,
classical to country, bluegrass to blues; 32 channels of premier sports, talk,
comedy, children's and entertainment programming; and 21 channels of the most
advanced traffic and weather information for major metropolitan areas
nationwide. For more information about XM, visit http://www.xmradio.com.

Factors that could cause actual results to differ materially from those in
the forward-looking statements in this press release include demand for the
Company's service, the Company's dependence on technology and third party
vendors, its potential need for additional financing, as well as other risks
described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the
Securities and Exchange Commission on 3-15-04. Copies of the filing are
available upon request from XM Radio's Investor Relations Department.



SOURCE XM Satellite Radio Holdings Inc.
Web Site: http://www.xmradio.com
Photo Notes: Newscom:
http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO AP
Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555
or 212-782-2840
 
Scott Greczkowski

Scott Greczkowski

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So is that good or bad? I am surprised to see DirecTV selling off its XM holdings.
 
MikeD-C05

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Scott Greczkowski said:
So is that good or bad? I am surprised to see DirecTV selling off its XM holdings.


Especially with Dish getting involved with Sirus sat radio . Maybe they know something that we don't? :confused:
 
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