posted 03-03-2003 07:53 PM                  

We are working with Sirius Satellite Radio on arrangements for a special offer to the Prowler owners to purchase Sirius Satellite Radio at a special price. Sirius is providing the radio and antenna at no cost with the activation of a one year subscription at $142.45 plus a $15.00 activation fee. It can be installed in your Prowler without having to change the radio, it works in conjunction with the Prowler radio.

We are working out the last of the details on this offer and how to order. I hope to be able to post the remainder of the information tomorrow night.

Stay tuned...............and tune in to Sirius Satellite Radio.

By the way.........Bob has it in his Dodge Durango and loves it!

posted 03-03-2003 09:30 PM                  

It is looking like the satellite providers are starting to offer real deals - I've been toying with getting one over the past couple months.

Please keep us posted.

posted 03-04-2003 03:56 PM                  

quote:

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CJ,

Here's some perspective that may help:

1) Sirius launched it's service 1 year behind XM (much like Echostar/Dish TV did vs Direct TV). After 3 months of operation in 2001, XM had 30,000 subscribers. Similarly, after Q4 2002, Sirius had 30,000 subscribers. Our growth is paralleling XM, just 1 year behind. If you look at Echostar today, they are still smaller than Direct TV, but they have a stronger balance sheet (See 2. below) and thus the stock is trading higher relative to their larger competitor. In fact, Echostar nearly bought Direct TC last year, only to be stopped by federal regulators.

2) Sirius does not need to raise more money from DCX or Ford. We are completing a recapitalization of our company that will give us a stronger financial position vs XM. They re-cap will be complete by 3/15/03! Here are some high points:

* New cash inflow of $200M from Oppenheimer, Blackstone and Apollo funds all major players in the investment world. None have placed additional money in XM. This is one of the largest venture capital investments in this horrible economy of 2002/2003. A fund like Oppenheimer doesn't do this if they dfail to see a real opportunity in the stock!
* Eliminate 90% of our debt (remining $70M) vs XM debt exceeding $700M.
* Lowers our breakeven to 2M subscribers, which is lower than that of XM

3) Sirius has exclusive relationships with DCX(all brands including MB and freightliner), Ford (All brands including Jag, Volvo, Mazda, Land Rover) and BMW (including Mini). These relationships far exceed XM' singular exclusive relationship with the GM brands. We effectively have 43% of the OEM market exclusive vs XM at 30% with GM. The remaining Asian OEMs are doing business with both of us since neither XM or Sirius will sign any further exclusive agreements. Again, we are 1 year behind XM but DCX already has 2 factory programs and 16 MOPAR accessories on the market!

Lastly, there was a question about portability. The units in the F&F program are not portable. We will have portable units for sale in the retail market come April/May.

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posted 03-06-2003 07:10 AM                    

Living near a big city, I can't even begin to count all the different AM/FM stations we have here (or can receive here).

I could see this maybe being beneficial if you were driving from L.A. to NYC and back alot (being able to stay on the same station)

But, we like to channel surf and enjoy the local stations (for that area). It only is one button press to search for the newest stations (not like the old days of manually turning the dial to tune them in)

With changes from 8-track to Quad to cassette to CD, it's obvious nothing ever stays static.

What is your take on AM/FM going away and being replaced with this new "pay monthly" radio?

quote:

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Originally posted by superdoppler:
I'm definitely interested. I was going to get satellite radio anyway and this would save over 200 bucks in equipment costs.

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Equipment costs are negligible. Remember when pc's used to cost alot (or mainframes)? With satellite TV, they usually throw in all the equipment for free. If XM really takes on, expect them to do the same provided you sign a one year contract or something like it.

posted 03-09-2003 07:29 AM                  

SIRIUS ANNOUNCES SUCCESSFUL EXCHANGE OFFER

$1.2 Billion Recapitalization Expected to Close This Week - $200 Million in New Cash to be Provided

· Approximately $636 Million in Debt and $519 Million in Preferred Stock to be Converted to Common Stock

· 91% of Debt Holders Agree to Participate in Recapitalization

NEW YORK, NY –– March 5, 2003 –– SIRIUS (NASDAQ: SIRI), the premier satellite radio broadcaster and only service delivering uncompromised coast-to-coast music and entertainment for your car and home, today announced that 91% of its debt holders have agreed to exchange their debt for common stock, in a recapitalization that also exchanges the company’’s preferred stock for common stock, plus will inject $200 million in new capital from its major financial partners through the sale of newly-issued common stock.

SIRIUS said the holders of approximately 91% in principal amount of the company’’s debt tendered in the exchange offer, including 100% of its term loans, approximately 90% of its senior secured discount notes, approximately 85% of its senior secured notes and approximately 89% of its convertible subordinated notes. In connection with the offer, holders of a majority of the company’’s debt agreed to reduce the minimum tender conditions.

Also, at a special stockholder meeting held yesterday in New York City, an overwhelming majority of SIRIUS stockholders approved the recapitalization transactions. Over 90% of stockholder votes cast were in favor of the transactions.

Affiliates of OppenheimerFunds, Blackstone and Apollo have agreed to provide $200 million in additional funds, that –– when combined with existing cash on-hand –– will give SIRIUS over $300 million in cash, sufficient to fund SIRIUS into the second quarter of 2004. OppenheimerFunds will provide $150 million, and affiliates of Apollo Management, L.P. and The Blackstone Group L.P. will each provide $25 million. Apollo and Blackstone will also exchange all of their existing convertible preferred stock for shares of common stock and warrants to purchase common stock.

““This is a major milestone for SIRIUS that now enables us to move forward with a strong balance sheet,”” said Joseph P. Clayton, President and CEO of SIRIUS. ““With our commercial-free music and additional products coming online this year, including portable ‘‘Plug & Play’’ and in-home units, and with our car manufacturer programs taking shape, we believe that 2003 will be a defining year for SIRIUS, and a catalyst for long-term success.””

Upon completion of all transactions, which are expected to conclude this week, the recapitalization will convert approximately $636 million in debt and $519 million in preferred stock into common stock.

About SIRIUS

SIRIUS is the only satellite radio service bringing listeners 100 streams of the best music and entertainment coast-to-coast. SIRIUS offers 60 music streams with no commercials, along with 40 world-class sports, news and entertainment streams for a monthly subscription fee of $12.95. Stream Jockeys create and deliver uncompromised music in virtually every genre to our listeners 24 hours a day. Satellite radio products bringing SIRIUS to listeners in the car, truck, home, RV and boat are manufactured by Kenwood, Panasonic, Clarion, Audiovox and Jensen, and are available at major retailers including Circuit City, Best Buy, Car Toys, Good Guys, Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is the leading OEM satellite radio provider, with exclusive partnerships with DaimlerChrysler, Ford and BMW. Automotive brands currently offering SIRIUS radios in select new car models include BMW, Chrysler, Dodge, Jeep®®, and Nissan. Automotive brands that have announced plans to start offering SIRIUS in select models include Ford, Lincoln, Mercury, Mercedes-Benz, Jaguar, Volvo, Mazda, Infiniti, MINI, Audi, Volkswagen, Land Rover and Aston Martin.

Click on www.SIRIUS.com <http://www.sirius.com/> to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.

Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Registration Statement on Form S-4 (File No. 333-101317), and amendments thereto, filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our results of operations are: our need for substantial additional financing in the first half of this year; our dependence upon third parties to manufacture, distribute, market and sell SIRIUS radios and components for those radios; the unproven market for our service; our competitive position and any events which affect the useful life of our satellites.

posted 03-30-2003 06:55 PM                  

Buy the way CJ: My Son lives in West BLoomfield. We will be going up in 3 or 4 weeks to help him with some yard work. We will go up for the Dream Cruise also with the Prowler. May see you then!

posted 03-30-2003 07:30 PM                  

here is the info on Alpine in Mich. that makes the Mopar Radios.

Alpine Electronics Manufacturing of America
27101 Hills Tech Ct. Farmington, Mi 48331-5725.
Phone 248-489-9440.
http://www.wjjeeps.com/nav.htm
This is where they have the GPS radio I bought and the satellite radio.