NEW YORK and WESTMINSTER, Colo., July 29, 2021 /PRNewswire/ -- Maxar
Technologies (NYSE:MAXR) (TSX:MAXR) and SiriusXM (NASDAQ: SIRI)
announced today that the SXM-8 satellite has completed in-orbit
testing and has been handed over to SiriusXM. A SpaceX Falcon 9
rocket launched the satellite into space on June 6, 2021, from Cape
Canaveral, Florida.
SXM-8 is the ninth high-powered, digital, audio radio satellite
built by Maxar for SiriusXM. Built on Maxar's 1300-class platform
and designed to provide more than 15 years of service, SXM-8 is
more than 27 feet tall and weighed nearly 7,000 kg at launch. SXM-8
has a large, mesh, unfurlable reflector almost 30 feet in diameter
that will allow SiriusXM programming to reach its radios, including
those in moving vehicles.
"We are proud of our long-standing relationship with SiriusXM
and excited to see SXM-8 ready for service to bring entertainment
to millions of SiriusXM subscribers," said Chris Johnson, Maxar's Senior Vice President of
Space Programs Delivery. "The entire Maxar team is committed to
excellence, and playing a role in the success of our customers'
missions is what drives us every day."
"We are committed to enhancing our satellite fleet and ability
to deliver the best audio entertainment, traffic, weather, data and
information services for years to come," said Bridget Neville, SiriusXM's Senior Vice
President of Satellite and Repeater Systems Engineering and
Operations. "We congratulate our engineering team, Maxar and SpaceX
on a successful launch and commissioning."
SXM-8 will provide continuous, reliable delivery of SiriusXM's
audio entertainment and information services to consumers in
the United States and will expand
SiriusXM's coverage area in Canada
and the Caribbean. SXM-8 will
extend the health of SiriusXM's satellite fleet and its
satellite-delivered services through at least 2036.
About Maxar
Maxar is a trusted partner and innovator in Earth Intelligence
and Space Infrastructure. We deliver disruptive value to government
and commercial customers to help them monitor, understand and
navigate our changing planet; deliver global broadband
communications; and explore and advance the use of space. Our
unique approach combines decades of deep mission understanding and
a proven commercial and defense foundation to deploy solutions and
deliver insights with unrivaled speed, scale and
cost-effectiveness. Maxar's 4,400 team members in over 20 global
locations are inspired to harness the potential of space to help
our customers create a better world. Maxar trades on the New York
Stock Exchange and Toronto Stock Exchange as MAXR. For more
information, visit www.maxar.com.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio
entertainment company in North
America, and the premier programmer and platform for
subscription and digital advertising-supported audio products.
SiriusXM's platforms collectively reach approximately 150 million
listeners, the largest digital audio audience across paid and free
tiers in North America, and
deliver music, sports, talk, news, comedy, entertainment and
podcasts. Pandora, a subsidiary of SiriusXM, is the largest
ad-supported audio entertainment streaming service in the U.S.
SiriusXM's subsidiaries Stitcher, Simplecast and AdsWizz
make it a leader in podcast hosting, production, distribution,
analytics and monetization. The Company's advertising sales
organization, which operates as SXM Media, leverages its scale,
cross-platform sales organization and ad tech capabilities to
deliver results for audio creators and advertisers. SiriusXM,
through Sirius XM Canada Holdings, Inc., also offers satellite
radio and audio entertainment in Canada. In addition to its audio entertainment
businesses, SiriusXM offers connected vehicle services to
automakers. For more about SiriusXM, please go
to: www.siriusxm.com.
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 future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend,"
"plan," "projection," "outlook" or words of similar meaning. Such
forward-looking statements are based upon the current beliefs and
expectations of our management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements.
The following factors, among others, could cause actual
results and the timing of events to differ materially from the
anticipated results or other expectations expressed in the
forward-looking statements: we face substantial
competition and that competition is likely to increase over time;
our efforts to attract and retain subscribers and listeners, or
convert listeners into subscribers, which may not be successful,
and may adversely affect our business; we engage in extensive
marketing efforts and the continued effectiveness of those efforts
is an important part of our business; we rely on third parties for
the operation of our business, and the failure of third parties to
perform could adversely affect our business; we may not realize the
benefits of acquisitions and other strategic investments and
initiatives; a substantial number of our Sirius XM subscribers
periodically cancel their subscriptions and we cannot predict how
successful we will be at retaining customers; our ability to
profitably attract and retain subscribers to our Sirius XM service
as our marketing efforts reach more price-sensitive consumers is
uncertain; our business depends in large part on the auto industry;
vehicle production and sales are dependent on may factors,
including the availability of consumer credit, general economic
conditions, consumer confidence, fuel costs and component supply
shortages; the impact of COVID-19, including its variant strains,
on our business; failure of our satellite would significantly
damage our business; our Sirius XM service may experience harmful
interference from wireless operations; our Pandora ad-supported
business has suffered a substantial and consistent loss of monthly
active users, which may adversely affect our Pandora business; our
failure to convince advertisers of the benefits of our Pandora
ad-supported service could harm our business; if we are unable to
maintain revenue growth from our advertising products, particularly
in mobile advertising, our results of operations will be adversely
affected; changes in mobile operating systems and browsers may
hinder our ability to sell advertising and market our services; if
we fail to accurately predict and play music, comedy or other
content that our Pandora listeners enjoy, we may fail to retain
existing and attract new listeners; privacy and data security laws
and regulations may hinder our ability to market our services, sell
advertising and impose legal liabilities; consumer protection laws
and our failure to comply with them could damage our business;
failure to comply with FCC requirements could damage our business;
if we fail to protect the security of personal information about
our customers, we could be subject to costly government enforcement
actions and private litigation and our reputation could suffer;
interruption or failure of our information technology and
communications systems could impair the delivery of our service and
harm our business; the market for music rights is changing and is
subject to significant uncertainties; our Pandora services depend
upon maintaining complex licenses with copyright owners, and these
licenses contain onerous terms; the rates we must pay for
"mechanical rights" to use musical works on our Pandora service
have increased substantially and these new rates may adversely
affect our business; our use of pre-1972 sound recordings on our
Pandora service could result in additional costs; failure to
protect our intellectual property or actions by third parties to
enforce their intellectual property rights could substantially harm
our business and operating results; some of our services and
technologies may use "open source" software, which may restrict how
we use or distribute our services or require that we release the
source code subject to those licenses; rapid technological and
industry changes and new entrants could adversely impact our
services; we have a significant amount of indebtedness, and our
debt contains certain covenants that restrict our operations; we
are a "controlled company" within the meaning of the NASDAQ listing
rules and, as a result, qualify for, and rely on, exemptions from
certain corporate governance requirements; while we currently pay a
quarterly cash dividend to holders of our common stock, we may
change our dividend policy at any time; and our principal
stockholder has significant influence, including over actions
requiring stockholder approval, and its interests may differ from
the interests of other holders of our common stock; if we are
unable to attract and retain qualified personnel, our business
could be harmed; our facilities could be damaged by natural
catastrophes or terrorist activities; the unfavorable outcome of
pending or future litigation could have an adverse impact on our
operations and financial condition; we may be exposed to
liabilities that other entertainment service providers would not
customarily be subject to; and our business and prospects depend on
the strength of our brands. Additional factors that could cause our
results to differ materially from those described in the
forward-looking statements can be found in our Annual Report on
Form 10-K for the year ended December 31, 2020, which is 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 we disclaim any
intention or obligation to update any forward looking statements as
a result of developments occurring after the date of this
communication.
Source: SiriusXM
Investor Relations Contact:
Jason Gursky
Maxar VP, Investor Relations and Corporate Treasurer
1-303-684-2207
jason.gursky@maxar.com
Hooper Stevens
SiriusXM
212-901-6718
hooper.stevens@siriusxm.com
Media Contact:
Kristin
Carringer
Maxar Media Relations
1-303-684-4352
kristin.carringer@maxar.com
Patrick Reilly
SiriusXM
Patrick.Reilly@siriusxm.com
Kevin Bruns
SiriusXM
Kevin.Bruns@siriusxm.com
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SOURCE Sirius XM Holdings Inc.