Sirius Radio Completes In-Orbit Testing
22 December 2000
NEW YORK, Dec. 22 Sirius Satellite Radio ,the satellite radio broadcaster, today announced that in-orbit testing of its third satellite has been completed. Payload and signal testing showed all systems performing to specification. The satellite was launched on November 30, marking the completion of Sirius' three-satellite constellation. Sirius is scheduled to begin broadcasting its audio entertainment service in January 2001. With the completion of its three-satellite constellation, Sirius commenced its comprehensive quality assurance program. This includes end-to-end testing and integration of Sirius' receiver, studio, broadcast, transaction management and customer service systems. From its three orbiting satellites, Sirius will directly broadcast up to 100 channels of digital-quality radio to motorists throughout the continental United States for a monthly subscription fee of $9.95. Sirius will deliver 50 channels of commercial-free music in virtually every genre, and up to 50 channels of news, sports, talk, comedy and children's programming. Sirius' broad and deep range of almost every music format as well as its news, sports and entertainment programming is not available on conventional radio in any market in the United States. Sirius has alliances to install three-band (AM/FM/SAT) radios in Ford, Chrysler, BMW, Mercedes, Mazda, Jaguar and Volvo vehicles as well as Freightliner and Sterling heavy trucks. Numerous manufacturers will furnish radios to automakers, and will also provide adapters to electronics retailers that will allow radios in existing vehicles to receive Sirius broadcasts. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to Sirius Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in Sirius' Annual Report on Form 10-K for the year ended December 31, 1999. Among the key factors that have a direct bearing on Sirius' results of operations are the potential risk of delay in implementing Sirius' business plan; unproven market and unproven applications of existing technology; unavailability of Sirius radios; and Sirius' need for additional financing.