PressClub USA · Article.
BMW AND SIRIUS XM RADIO EXTEND RELATIONSHIP
Mon Nov 10 12:00:00 CET 2008 Press Release
Woodcliff Lake, NJ - November 10, 2008... BMW has extended its relationship with SIRIUS XM Radio (NASDAQ: SIRI) through September of 2011.
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BMW will continue to offer SIRIUS as a factory option with a one-year bundled
Woodcliff Lake, NJ - November 10, 2008... BMW has extended its relationship
with SIRIUS XM Radio (NASDAQ: SIRI) through September of 2011.
"Satellite radio's exceptional content fits well with BMW, delivering a premium
mobility experience to our owners. More and more BMW owners are choosing to
equip their vehicles with SIRIUS and we are pleased to continue making it
available to current and future BMW owners," said Jack Pitney, Vice-President
of Marketing for BMW of North America.
"BMW provides their customers with a superb driving experience and our
commercial-free music and great sports, talk and news programming affords BMW
owners the best in-vehicle entertainment anywhere," said Mel Karmazin, CEO of
SIRIUS XM Radio. "We are very pleased to continue to extend our partnership
SIRIUS satellite radio is available as an option on all BMW vehicles with a
one-year bundled subscription included in the price of the vehicle. For more
information on SIRIUS, please visit www.sirius.com.
About SIRIUS XM Radio
SIRIUS XM Radio is America's satellite radio company delivering The Best Radio
on Radio™ to more than 18 million subscribers, including 100% commercial free
music, and premier sports, news, talk, entertainment, traffic and weather.
SIRIUS XM Radio has content relationships with an array of personalities and
artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett,
Elvis, Jamie Foxx, Barbara Walters, Frank Sinatra, Opie & Anthony, The Grateful
Dead, Willie Nelson, Bob Dylan, Dale Earnhardt Jr., Tom Petty, and Bob Edwards.
SIRIUS XM Radio is the leader in sports programming as the Official Satellite
Radio Partner of the NFL, Major League Baseball, NASCAR, NBA, NHL, and PGA
Tour, and broadcasts major college sports.
SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio
products are available at shop.sirius.com and shop.xmradio.com, and at retail
locations nationwide, including Best Buy, Circuit City, RadioShack, Target,
Sam's Club, and Wal-Mart.
SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle
rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon
Network; XM NavTraffic service for GPS navigation systems delivers real-time
traffic information, including accidents and road construction, for more than
80 North American markets.
This communication contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to, statements about the benefits of the business
combination transaction involving SIRIUS and XM, including potential synergies
and cost savings and the timing thereof, future financial and operating
results, the combined company's plans, objectives, expectations and intentions
with respect to future operations, products and services; and other statements
identified by words such as "anticipate," "believe," "plan," "estimate,"
"expect," "intend," "will," "should," "may," or words of similar meaning. Such
forward-looking statements are based upon the current beliefs and expectations
of SIRIUS' and XM's management and are inherently subject to significant
business, economic and competitive uncertainties and contingencies, many of
which are difficult to predict and generally beyond the control of SIRIUS and
XM. Actual results may differ materially from the results anticipated in these
The following factors, among others, could cause actual results to differ
materially from the anticipated results or other expectations expressed in the
forward-looking statement: general business and economic conditions; the
performance of financial markets and interest rates; the ability to obtain
governmental approvals of the transaction on a timely basis; the failure to
realize synergies and cost-savings from the transaction or delay in realization
thereof; the businesses of SIRIUS and XM may not be combined successfully, or
such combination may take longer, be more difficult, time-consuming or costly
to accomplish than expected; and operating costs and business disruption
following the merger, including adverse effects on employee retention and on
our business relationships with third parties, including manufacturers of
radios, retailers, automakers and programming providers. Additional factors
that could cause SIRIUS' and XM's results to differ materially from those
described in the forward-looking statements can be found in SIRIUS' and XM's
Annual Reports on Form 10-K for the year ended December 31, 2007 and their
respective Quarterly Reports on Form 10-Q for the quarter ended June 30, 2008,
which are filed with the Securities and Exchange Commission (the "SEC") and
available at the SEC's Internet site (http://www.sec.gov). The information set
forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any
intention or obligation to update any forward looking statements as a result of
developments occurring after the date of this communication.
BMW Group In America
BMW of North America, LLC has been present in the United States since 1975.
Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW
Group in the United States has grown to include marketing, sales, and financial
service organizations for the BMW brand of motor vehicles, including
motorcycles, the MINI brand, and the Rolls-Royce brand of Motor Cars;
DesignworksUSA, an industrial design firm in California; a technology office in
Silicon Valley and various other operations throughout the country. BMW
Manufacturing Co., LLC in South Carolina is part of BMW Group's global
manufacturing network and is the exclusive manufacturing plant for all Z4
models, X5 Sports Activity Vehicles and X6 Sports Activity Coupes. The BMW
Group sales organization is represented in the U.S. through networks of 338 BMW
passenger car centers, 335 BMW Sports Activity Vehicle centers, 142 BMW
motorcycle retailers, 83 MINI passenger car dealers, and 30 Rolls-Royce Motor
Car dealers. BMW (US) Holding Corp., the BMW Group's sales headquarters for
North, Central and South America, is located in Woodcliff Lake, New Jersey.
Information about BMW Group products is available to consumers via the Internet
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Journalist note: Information about the BMW Group and its products is available
to journalists on-line at the BMW Group PressClub at the following address:
www.press.bmwgroup.com. Broadcast quality video footage is available via The
NewsMarket at www.thenewsmarket.com.
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