SXM-11 and -12 join SXM-9 and -10 in Maxar
development pipeline for SiriusXM
Maxar Technologies (NYSE:MAXR) (TSX:MAXR) and SiriusXM (NASDAQ:
SIRI) today announced a new agreement commissioning Maxar to build
and deliver two new geostationary communications satellites for
SiriusXM.
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the full release here:
https://www.businesswire.com/news/home/20221129006004/en/
The Maxar-built SXM-11 and SXM-12
satellites for SiriusXM as shown in an artist rendering. Credit:
Maxar.
The SXM-11 and -12 satellite orders increase the total number of
spacecraft in development for SiriusXM by Maxar to four, following
the 2021 agreement for the construction of SXM-9 and -10.
“This investment reaffirms our commitment to satellite content
delivery systems and cutting-edge technology,” said Bridget
Neville, SiriusXM’s Senior Vice President of Satellite and
Terrestrial Engineering and Operations. “SXM-11 and -12, along with
SXM-9 and -10, will allow us to innovate and improve our service
offerings for subscribers and will extend the continuous and
reliable delivery of our audio entertainment content.”
“This agreement, in combination with SXM-9 and -10 ordered last
year, shows one of Maxar’s greatest strengths—the advantage of
performance at scale,” said Chris Johnson, Maxar’s Senior Vice
President of Space. “These satellites will provide more capability
to SiriusXM’s fleet, including an expanded service area and higher
service quality. We continue to push for new ways to expand
capability for commercial geostationary customers, keeping our
leadership in this market secure and growing.”
There are more than 150 million SiriusXM-equipped vehicles on
the road today that rely on SiriusXM’s proprietary satellite
network, which is also a key delivery mechanism for the company’s
360L platform. SiriusXM with 360L combines satellite and streaming
to ensure the best possible coverage across the U.S. and Canada and
the best customer experience. SiriusXM also offers a suite of
satellite-delivered Marine and Aviation services that provide
pilots and boaters important weather data and information directly
to their cockpits.
SXM-11 and -12 will be twin high-powered digital audio radio
satellites, built on Maxar’s proven 1300-class platform at the
company’s manufacturing facilities in Palo Alto and San Jose,
California. Maxar has been building satellites for SiriusXM for
more than two decades, including the first-generation Sirius
satellites launched in 2000; the second-generation Sirius
satellites launched in 2009 and 2013; and the company’s current
third-generation satellites, the first one of which started service
in 2021. The delivery of SXM-11 and -12 will bring the number of
Maxar-built spacecraft for SiriusXM to 13.
About Maxar
Maxar Technologies is a provider of comprehensive space
solutions and secure, precise, geospatial intelligence. 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. 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, talk, news, comedy,
entertainment and podcasts. SiriusXM offers the most extensive
lineup of professional and college sports in audio. 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 arm, 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 have been, and may continue to be, adversely
affected by supply chain issues as a result of the global
semiconductor supply shortage; we face substantial competition and
that competition is likely to increase over time; if our efforts to
attract and retain subscribers and listeners, or convert listeners
into subscribers, are not successful, our business will be
adversely affected; 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; the
ongoing COVID-19 pandemic has introduced significant uncertainty to
our business; a substantial number of our Sirius XM service
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 part on the auto
industry; failure of our satellites 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 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; 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; 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, 2021, and our Quarterly
Report on Form 10-Q for the quarterly period ended March 31, 2022,
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 we disclaim any intention or obligation
to update any forward looking statements as a result of
developments occurring after the date of this communication.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221129006004/en/
Kristin Carringer Maxar Media Relations 1-303-684-4352
kristin.carringer@maxar.com
Kevin Bruns SiriusXM Kevin.Bruns@siriusxm.com
Sirius XM (NASDAQ:SIRI)
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