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Article: XM Satellite Radio Announces Strategic Investment in WorldSpace.
- Article from:
- PR Newswire
- Article date:
- July 19, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, July 19 /PRNewswire-FirstCall/ -- XM Satellite Radio , the nation's leading satellite radio company with more than 4.4 million subscribers, today announced that it has made a strategic investment of $25 million in the common stock of WorldSpace, Inc., a leading satellite radio provider for Asia, Europe, the Middle East and Africa.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
In connection with the investment, XM will cooperate with WorldSpace to develop satellite radio products, technology and distribution and supplier networks. In addition, XM will have warrants to acquire $37.5 million in additional WorldSpace stock ...