Company Overview of Sirius XM Radio Inc.
Sirius XM Radio Inc. provides radio broadcasting services in the United States and Canada. It creates and offers commercial-free music; sports and live events; news and comedy; exclusive talk and entertainment; and various Latin commercial-free music, sports, and talk programming. The company also offers its service online at siriusxm.com. The company also offers telematics and connected vehicles solutions to automotive manufacturers. In addition, it provides traffic, weather, data, and information services for subscribers; and weather, data, and information services to aircraft and boats. The company was incorporated in 1990 and is based in New York, New York. Sirius XM Radio Inc. operates ...
1221 Avenue of the Americas
New York, NY 10020
Founded in 1990
Key Executives for Sirius XM Radio Inc.
Chief Executive Officer and Director
President and Chief Content Officer
Chief Financial Officer and Executive Vice President
Executive Vice President of Operations, Products and Connected Vehicle
Principal Accounting Officer, Senior Vice President and Controller
Compensation as of Fiscal Year 2015.
Sirius XM Radio Inc. Key Developments
Sirius XM Radio Inc. Prices Offering of $1 Billion of 5.375% Senior Notes Due 2026
May 18 16
Sirius XM Holdings announced that its subsidiary, Sirius XM Radio Inc., priced an offering of $1 billion of senior notes due 2026. The company will receive gross proceeds of $1 billion from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses. The company intends to use a portion of the net proceeds to repay all borrowings outstanding under its revolving credit facility. It will also use the remaining net proceeds from the offering for general corporate purposes, which may include the repayment, repurchase, redemption, defeasance or tender of its outstanding indebtedness, including any future borrowings under its revolving credit facility, dividends or loans to the company, its parent corporation, to fund share repurchases of the company common stock and the payment of the cash consideration for, and fees related to, the company’s previously announced recapitalization of Sirius XM Canada Holdings Inc.
Sirius XM Radio Inc. Intends to Offer $750 Million of Senior Notes Due 2026
May 18 16
SiriusXM announced that Sirius XM Radio Inc., intends to offer $750 million of Senior Notes due 2026 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulations of the Securities Act. The company intends to use a portion of the net proceeds from the offering to repay all borrowings outstanding under its revolving credit facility. The company intends to use the remaining net proceeds from the offering for general corporate purposes, which may include, from time to time and as market conditions warrant, the repayment, repurchase, redemption, defeasance or tender of its outstanding indebtedness, including any future borrowings outstanding under its revolving credit facility, dividends or loans to SiriusXM, its parent corporation, to fund share repurchases of SiriusXM common stock and the payment of the cash consideration for, and fees related to, SiriusXM's previously announced recapitalization of Sirius XM Canada Holdings Inc. Pending application of these amounts, the company currently expects to maintain any excess amount as cash on hand.
Sirius XM Radio Inc. Enters into Memorandum of Understanding to Settle the Purported Class Action Suits
Apr 8 16
On April 5, 2016, Sirius XM Radio Inc. entered into a memorandum of understanding to settle the purported class action suits that allege that it, or call center vendors acting on its behalf, made calls which violate provisions of the Telephone Consumer Protection Act of 1991. The settlement is expected to resolve the claims of consumers for the period February 2008 through the present relating to telemarketing calls to their mobile telephones. As part of this settlement, Sirius XM will agree to pay $35 million in cash (from which notice, administration and other costs and attorneys' fees will be paid), to offer participating class members the option of receiving three months of its Select service for no charge, and to enter into agreements to make certain modifications to the system architecture of certain call center vendors. The memorandum of understanding is subject to the execution of a definitive settlement agreement and court approval, neither of which can be assured.
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