SIRIUS to Augment Satellite Constellation - Techwatch: Satellite TV forums, FTA, Cable, Hardware, & Tech forums

BGonaSTICK · 10-06-06, 12:05 PM

PRESS RELEASE
Date Released: Thursday, June 8, 2006

SIRIUS Satellite Radio (Nasdaq: SIRI) announced that it has entered into an agreement with Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq: LORL), for the design and construction of a new satellite that will be one of the most advanced and powerful communications satellites ever built.

Construction of the satellite is expected to be completed in the fourth quarter of 2008. SIRIUS plans to launch the satellite on a Proton rocket under a contract previously announced between SIRIUS and International Launch Services (ILS). The satellite will be launched into a geostationary orbit to complement SIRIUS' existing three satellites, which were also manufactured by Space Systems/Loral and operate in a highly elliptical geosynchronous orbit. This unique hybrid constellation will provide unparalleled redundancy, enhanced coverage and exceptional performance.

"This investment in next generation space technology will improve SIRIUS' already exceptional service experience," said Mel Karmazin, CEO of SIRIUS. "Not only will this satellite support our other three satellites currently in orbit, but it will also improve reception for all SIRIUS subscribers whether they are in their car, office, home or jogging in the park."

The aggregate cost of designing, building, launching and insuring the launch of the satellite will be approximately $260 million. As part of its commitment to SIRIUS, Loral has agreed to provide a $100 million vendor financing facility. SIRIUS has no current plans to draw under the vendor financing facility.

SIRIUS continues to expect that its first quarter of positive free cash flow, after capital expenditures, could be reached as early as the fourth quarter of 2006, and that the company will be free cash flow positive, after capital expenditures, for the full-year 2007. The payments associated with the purchase and launch of this satellite were anticipated in SIRIUS' guidance concerning free cash flow positive.

Analoguesat · 10-06-06, 10:40 PM

This will be for Sirius radio, rather than the European Sirius programme at 5E if anyone is wondering

BGonaSTICK · 10-06-06, 11:00 PM

Yes, good point m8.

10-06-06, 12:05 PM	#1 (permalink)
BGonaSTICK Super Murderator Join Date: Nov 2005 Location: Brighton Posts: 10,626 Thanks: 3 Thanked 52 Times in 34 Posts	SIRIUS to Augment Satellite Constellation PRESS RELEASE Date Released: Thursday, June 8, 2006 SIRIUS Satellite Radio (Nasdaq: SIRI) announced that it has entered into an agreement with Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq: LORL), for the design and construction of a new satellite that will be one of the most advanced and powerful communications satellites ever built. Construction of the satellite is expected to be completed in the fourth quarter of 2008. SIRIUS plans to launch the satellite on a Proton rocket under a contract previously announced between SIRIUS and International Launch Services (ILS). The satellite will be launched into a geostationary orbit to complement SIRIUS' existing three satellites, which were also manufactured by Space Systems/Loral and operate in a highly elliptical geosynchronous orbit. This unique hybrid constellation will provide unparalleled redundancy, enhanced coverage and exceptional performance. "This investment in next generation space technology will improve SIRIUS' already exceptional service experience," said Mel Karmazin, CEO of SIRIUS. "Not only will this satellite support our other three satellites currently in orbit, but it will also improve reception for all SIRIUS subscribers whether they are in their car, office, home or jogging in the park." The aggregate cost of designing, building, launching and insuring the launch of the satellite will be approximately $260 million. As part of its commitment to SIRIUS, Loral has agreed to provide a $100 million vendor financing facility. SIRIUS has no current plans to draw under the vendor financing facility. SIRIUS continues to expect that its first quarter of positive free cash flow, after capital expenditures, could be reached as early as the fourth quarter of 2006, and that the company will be free cash flow positive, after capital expenditures, for the full-year 2007. The payments associated with the purchase and launch of this satellite were anticipated in SIRIUS' guidance concerning free cash flow positive. __________________ Dreambox 7000, Skystar2 PCI, Skystar USB, Fibo 90cm on Moteck SG2100, Triax TD110 multi-LNB. Sky + ART cards. 45.0°E - 58.0°W

10-06-06, 10:40 PM	#2 (permalink)
Analoguesat Site Moderator Join Date: Jan 2006 Location: Scottish Borders Posts: 7,585 Thanks: 7 Thanked 193 Times in 181 Posts	Re: SIRIUS to Augment Satellite Constellation This will be for Sirius radio, rather than the European Sirius programme at 5E if anyone is wondering __________________ Dreambox 7020 / Pace Sky Digibox / Amstrad Sky Italia box 5 dishes for 5E/9E/13E/16E/19E/23E/28E Please DO NOT pm the mods & admins for c&ble keys. You may get banned for it! Read the rules before you post - click here to read them

10-06-06, 11:00 PM	#3 (permalink)
BGonaSTICK Super Murderator Join Date: Nov 2005 Location: Brighton Posts: 10,626 Thanks: 3 Thanked 52 Times in 34 Posts	Re: SIRIUS to Augment Satellite Constellation Yes, good point m8. __________________ Dreambox 7000, Skystar2 PCI, Skystar USB, Fibo 90cm on Moteck SG2100, Triax TD110 multi-LNB. Sky + ART cards. 45.0°E - 58.0°W


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