MediaFile

Timeline: Sirius and XM Satellite Radio

July 28, 2008

A Russian Proton with a satellite for Sirius Satellite Radio is lifted into place at its launching pad at the Baikonur Cosmodrome, Kazakhstan, on September 1, 2000, while (L to R) Bob Prevaux, Program Director for Space Systems Loral talks with Rob Briskman, Executive Vice President for Sirius Satellite Radio and Ted Sitek, Mission Manager for International Launch Services. (Reuters/Karl Ronstrom)******Federal regulators have cleared the last remaining hurdle for Sirius Satellite Radio’s proposed acquisition of XM Satellite Radio Holdings, a deal that will combine rivals in the nascent U.S. pay-radio market.******The U.S. Federal Communications Commission reached an agreement to conditionally approve the deal on Thursday, four months after the Department of Justice gave its blessing, and 18 months after XM and Sirius agreed to combine. Experts say that new services from a combined company could come in a few months, but suggest their holiday subscription growth may be hurt by the delayed deal closing.******Here are are some important dates in the history of the satellite radio industry.******* 1994 – CD Radio goes public at about $3.15.******* Oct. 1999 – XM goes public at $12 a share.******XM and Sirius Price chart - 3 years******* Nov. 1999 – CD Radio changes its name to Sirius Satellite.******A Pioneer Xm2go Inno satellite radio is displayed in a car at a trade show* Nov. 2001 – XM starts national radio service, after launching its first two satellites — “Rock” and “Roll” — earlier in the year.***

**** 2002 – Sirius launches national satellite radio service.******* Oct 2003 – XM reaches 1 million subscribers.******* Dec 2003 – Sirius signs 7-year, $220 million pact with the National Football League.******xm-sirius-logo.jpg* Oct 2004 – Shock Jocks Opie and Anthony begin broadcasting on XM, on a premium channel.******* Oct 2004 – XM signs 11-year, $650 million pact with Major League Baseball; deal starts with the 2005 season.******* Oct 2004 – XM unveils Delphi MyFi, its first portable radio receiver.******* Dec 2004 – Sirius reached 1 million subscribers********** Shock Jock Howard SternOct 2004 – Sirius signs shock jock Howard Stern to 5-year, $500 million deal.******* April 2005 – XM raises subscription price to $12.95 a month from $9.99, matching Sirius.*******Sept 2005 – XM surpasses 5 million subscribers.******* Feb 2006 – XM signs 3-year, $55 million deal with Oprah Winfrey.******* Sept 2006 – Sirius tops 5 million subscribers.******* Jan 2006 – Sirius starts broadcasts of Howard Stern.******* Feb 2007 – Sirius and XM propose merger; Deal requires approval of their respective shareholders, the U.S. Federal Communications Commission and the U.S. Justice Department. Sirius CEO Mel Karmazin to be CEO of new company, XM Chairman Gary Parson to become Chairman.******Lifestyle diva Martha Stewart (R) stands next to Mel Karmazin, CEO of SIRIUS Satellite Radio******* July 2007 – CEO Hugh Panero says he is stepping down in August; COO Nate Davis to become Interim CEO.******* Nov 2007 – XM and Sirius shareholders approve the deal.******* Gary Parsons, Chairman of XM Satellite RadioMar 2008 – The Justice Department approves the deal.************* June 16, 2008 – FCC Chairman Kevin Martin announced his recommendation to approve the merger with conditions.******* June 30, 2008 – Sirius ends the second quarter with 8.9 million subscribers, up 25 percent from a year earlier. XM had 9.65 million subscribers at the end of June, up 17 percent from a year earlier.******* July 25, 2008 – FCC Commissioners approve the deal with conditions, clearing the way for a deal that will leave just one U.S. satellite radio service. Analysts expect the deal to close within days or weeks of the regulatory approval.******(Sources: XM, Sirius, Hoover’s, Reuters)******(Top picture: A Russian Proton with a satellite for Sirius Satellite Radio is lifted into place at its launching pad at the Baikonur Cosmodrome, Kazakhstan, on September 1, 2000, while (L to R) Bob Prevaux, Program Director for Space Systems Loral talks with Rob Briskman, Executive Vice President for Sirius Satellite Radio and Ted Sitek, Mission Manager for International Launch Services. (Reuters/Karl Ronstrom))

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