The XM service launched on November 29, 1999. Originally, XM was an independent company, but it was acquired by Clear Channel Communications in 1998. In addition to the acquisition, the company made a re-capitalization plan in January 2003. This involved issuing over US$300 million in 10% convertible bonds to a group of private investors.
XM is a satellite-based digital radio service. The service is based on two high-powered satellites that transmit audio to listeners through ground-based repeaters. Currently, XM has 7.2 million subscribers. Many of the stations on XM are free to listen to, although a subscription is required.
During the launch of the XM service, the company announced its intention to provide a baseball-themed channel. As a result, a deal was reached between XM and Major League Baseball. XM obtained the right to use a silhouetted batter logo and the collective marks of all major league clubs.
XM began providing a sports-oriented channel that features live coverage of the NFL and Major League Baseball. They also provided programming that featured the PGA Tour, NASCAR, and college football.
Initially, XM offered exclusive programming from its partner, Clear Channel. XM received a portion of the bandwidth used by Clear Channel. However, the company negotiated a compromise that allowed XM to show programs inside the bandwidth of its partner. When it came time to pay for the broadcasting of those programs, XM and Clear Channel agreed to arbitrate the impact of the forward sales agreement.
As part of the re-capitalization plan, XM also issued warrants to General Motors for shares of its common stock. Additionally, the company restructured its payment obligations on the installation agreement with General Motors. These changes resulted in a revolving credit facility with GM. Using the revolving credit facility, XM was able to obtain a convertible bond from GM.
While many people believed that XM and Sirius were one and the same, the two companies have distinct histories. XM was initially founded as American Mobile Satellite Corporation (AMSC), a company that specialized in satellite broadcasting of telephone signals, fax signals, and data signals. A spin-off was formed in 1999 as XM Satellite Radio Holdings, Inc.
Initially, XM and Sirius were considered competitors. However, XM had more to offer in terms of commercial-free music. Unlike Sirius, XM had an exclusive deal with Major League Baseball. XM also gained rights to use the silhouetted batter logo, the MLB silhouetted batter logo, and the collective marks of all major league clubs.
On June 17, 2009, the iPhone app for XM Radio was released to Apple iTunes customers. Since then, the iPhone app has maintained the same channel lineup that it had been using since 2008. Users can now enjoy XM"s commercial-free musical channels on their Apple devices.
Link to this article：https://www.giaimatraderthanhcong.com/1039.html