# XM Makes Another Money Move, This Time Global



## Neil Derryberry (Mar 23, 2002)

XM Makes Another Money Move, This Time Global

In another money move for the No. 1 satellite radio company, XM Satellite Radio said Tuesday it made a strategic investment of $25 million in the common stock of WorldSpace, the satellite radio provider serving Asia, Europe, the Middle East and Africa. In connection with the investment, XM said it will cooperate with WorldSpace to develop satellite radio products, technology and distribution and supplier networks. In addition, XM will have warrants to acquire $37.5 million in additional WorldSpace stock and an option to invest along with WorldSpace and other partners in various countries around the world, the company said.

WorldSpace and XM are both based in Washington, D.C. Through its two satellites, named AfriStar and AsiaStar, WorldSpace broadcasts news, music and educational programming to listeners on two continents.

Last week, XM announced plans to buy WCS Wireless, which holds wireless spectrum in several cities.

http://www.skyreport.com (Used with Permission)


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