WASHINGTON and NEW YORK, July 24 /PRNewswire-FirstCall/ -- XM Satellite
Radio Holdings Inc. (Nasdaq: XMSR) and SIRIUS Satellite Radio (Nasdaq: SIRI)
today confirmed that the companies are in discussions with the Enforcement
Bureau of the Federal Communications Commission to settle outstanding
enforcement matters.
As previously disclosed by the companies, in 2006, the FCC commenced
investigations regarding the compliance of certain radios that include FM
transmitters with the Commission's rules, and the compliance of certain
terrestrial repeaters with the special temporary authority granted by the
Commission. The companies hope to enter into a Consent Decree with the
Federal Communications Commission terminating these inquiries.
As part of a possible Consent Decree, the companies expect to agree, among
other things, to:
-- adopt comprehensive compliance plans, and take steps to address any
potentially non-compliant radios remaining in the hands of consumers;
-- in the case of XM, within 60 days of the order adopting the Consent
Decree, shut down 50 variant terrestrial repeaters, and shut down or bring
into compliance an additional 50 variant terrestrial repeaters;
-- in the case of SIRIUS, bring into compliance or shut down up to 11
variant terrestrial repeaters within 60 days of the order adopting the Consent
Decree. These terrestrial repeaters were shut off by SIRIUS in October 2006;
and
-- make a voluntary contributions to the United States Treasury of
approximately $17 million in the case of XM, and approximately $2 million in
the case of SIRIUS.
There can be no assurances regarding the ultimate outcome of these
enforcement proceedings, including whether the FCC will approve Consent
Decrees under discussion with the companies.
About SIRIUS
SIRIUS, 'The Best Radio on Radio,' delivers more than 130 channels of the
best programming in all of radio. SIRIUS is the original and only home of
100% commercial free music channels in satellite radio, offering 69 music
channels. SIRIUS also delivers 65 channels of sports, news, talk,
entertainment, traffic, weather and data. SIRIUS is the Official Satellite
Radio Partner of the NFL, NASCAR, and broadcasts live play-by-play games of
the NFL, as well as live NASCAR races. All SIRIUS programming is available
for a monthly subscription fee of only $12.95.
SIRIUS Internet Radio (SIR) is an Internet-only version of the SIRIUS
radio service, without the use of a radio, for the monthly subscription fee of
$12.95.
