Hey DML'ers, check this out.
George
>>>>>>>>>>>>
Stuttgart, Auburn Hills, MI, February 3, 2000
DaimlerChrysler and Sirius Satellite Radio have announced an agreement
to bring satellite radio to DaimlerChrysler vehicles in the United States
beginning next year.
Sirius Radio will provide DaimlerChrysler customers with seamless,
coast-to-coast coverage of up to 100 channels of programming, including 50
channels of commercial-free music and up to 50 channels of news, sports and
entertainment for a monthly subscription fee of $9.95.
Under the terms of the agreement, DaimlerChrysler Corporation will
purchase $100 million of Sirius common stock and exclusively factory-install
Sirius receivers in DaimlerChrysler cars and light trucks.
The arrangement includes all DaimlerChrysler brands sold in the United
States, including Mercedes-Benz, Chrysler, Jeep®, Dodge, Dodge Truck, as
well as Freightliner and Sterling heavy trucks.
DaimlerChrysler and Sirius will also work together to develop
innovative telematics functions using the Sirius national digital
broadcasting system. These applications may include a range of wireless
security, convenience and navigation services for DaimlerChrysler vehicle
owners. This is a further step in DaimlerChrysler's strategy to create and
develop technologies to better serve its customers.
DaimlerChrysler is North America's third largest auto manufacturer,
selling more than 4.8 million vehicles worldwide per year. Freightliner is
North America's largest heavy-duty truck manufacturer -- and the first truck
manufacturer to agree to install satellite radios in commercial vehicles.
"We believe Sirius Radio has a superior system which will offer our
vehicle owners tailored, commercial-free broadcasts across the country,"
said Jim Holden, President, DaimlerChrysler Corporation. "We see this
arrangement as part of DaimlerChrysler's ongoing strategy to expand our
business beyond the traditional automotive manufacturing and sale. This is
all about DaimlerChrysler bringing new value and services to our Chrysler,
Jeep and Dodge customers, and providing innovation in every area of their
automotive experience."
"Luxury car owners expect the most advanced performance, information
and entertainment technologies," added Ken Enders, Vice President of
Marketing for Mercedes-Benz USA, Inc. "We believe Sirius Radio will provide
our Mercedes-Benz clients with a revolution in audio information and
entertainment."
"It is crucial that our commercial vehicle customers have the most
advanced technologies and the best entertainment options for the long hours
spent on the road," said Jim Hebe, President & CEO of Freightliner
Corporation. "We expect this alliance to usher in a new era of
commercial-free music and innovative news, talk and entertainment radio
programming for motorists and truckers across the U.S."
"We're extremely pleased that one of the world's most respected
automakers has made this significant commitment to our technology, our
service and our company," said David Margolese, Sirius Chairman and Chief
Executive. "We believe this decision affirms the superiority of our
proprietary transmission technology and the power of our completely
commercial-free music capability."
Sirius has alliances with eight leading automotive electronics
manufacturers to produce digital receivers for the automotive aftermarket
and for installation in new cars. These companies include Alpine, Audiovox,
Clarion, Delphi Delco Electronics, Kenwood, Panasonic, Recoton and Visteon.
Sirius Satellite Radio, www.siriusradio.com, is building a digital
satellite radio system that will broadcast music and entertainment
programming to motorists throughout the continental United States.
Sirius has also announced agreements with some of the world's foremost
creators of compelling audio information and entertainment programming,
including CNBC, National Public Radio, USA Networks/SCI-FI Channel,
Bloomberg and the BBC. The company has the exclusive right to carry the
nationally acclaimed program "Car Talk" on satellite radio.
Sirius expects to begin broadcasting nationally at the end of the
fourth quarter of 2000.
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