XM Satellite Radio Joins Forces With Concord Music Group To Launch Co-Branded CD Series
Washington D.C., March 20, 2006 -- XM Satellite Radio (NASDAQ: XMSR), the nation’s leading satellite radio service with more than six million subscribers, and Concord Music Group, one of the world’s largest and most important independent record labels, today announced a partnership to launch a series of co-branded compilation CDs. Co-produced by XM and Concord, each CD in the series will feature songs culled from Concord’s extensive catalog of new and historic recordings and will reflect the breadth and depth of XM’s programming across multiple genres and channels. The concepts behind each CD in the XM Concord compilation series are derived from XM’s programming, including specific XM channels and original XM music shows combined with Concord’s remarkable collection of music including jazz, Latin jazz, rock, blues, R&B, world music and classical. The initial series will focus on both company’s comprehensive commitment to jazz. XM and Concord will jointly market and promote these special recordings.
“XM’s partnership with Concord Music Group is a unique opportunity for us to create CDs that offer music fans the same diverse musical sensibility they’ve come to expect from XM’s kaleidoscope of channels,” said Lee Abrams, Chief Creative Officer, XM Satellite Radio. “Concord’s truly impressive music catalog combined with its reputation as one of the most respected labels in the business make them the perfect partner with which to launch this new CD series.”
The first CD, “Watercolors Series,” scheduled for release early this summer, will highlight songs by contemporary jazz artists, including those featured on XM’s contemporary jazz channel, Watercolors (XM channel 71). The second series, “Blistering Licks,” will cover the gamut of brilliant jazz pieces and players which have influenced other genres of music from blues to progressive rock in addition to jazz. All CD’s in this series will be available at retailers nation-wide, the major digital music outlets and the Concord website: www.concordmusicgroup.com.
“Like Concord, XM is passionate about music and offers the most comprehensive programming available on radio reflecting the true scope of music,” said Gene Rumsey, general manager, Concord Music Group. “Not only will we have an opportunity to share the work of both new artists and established masters, but we’ll be able to create new fans among the millions of XM listeners.” Rumsey adds, “When we find a partner who is as focused on the same segments of the market as we are, we definitely find a way of being in business with them. We view XM as just that kind of partner.”
About XM Satellite Radio
XM is America’s number one satellite radio service with more than 6 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM’s 2006 lineup includes more than 160 digital channels of choice from coast to coast: the most commercial-free music channels, sports, talk, comedy, children’s and entertainment programming; and the most advanced traffic and weather information.
XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan and Volkswagen/Audi, is available in more than 130 different vehicle models for 2006. XM’s industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com.
About Concord Music Group
Concord Records merged with Fantasy, Inc. in 2004 to create the Concord Music Group, strengthening its preeminent position as one of the largest independent record companies in the world and keeper of an extraordinarily rich and, in many cases, historically significant catalog of recordings. They include titles from some of the most admired and enduring names in music, including Rosemary Clooney, John Coltrane, Creedence Clearwater Revival, Miles Davis, Ella Fitzgerald, Isaac Hayes, Little Richard, Thelonious Monk, Tito Puente, Dave Brubeck, George Shearing, Ray Brown, Oscar Peterson and Mel Torme. The group’s current roster of world-class artists includes: Karrin Allyson, Regina Belle, Peter Cincotti, Michael Feinstein, Nnenna Freelon, John Fogerty, LaToya London, Sergio Mendes, Ozomatli, Eddie Palmieri, The Rippingtons, Sonny Rollins and Poncho Sanchez. Late last year, Concord acquired Telarc International, renowned for their roster of artists including Tierney Sutton, John Pizarrelli, Ladysmith Black Mambazo and Spyro Gyra.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio’s service, the Company’s dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.’s Form 10-K filed with the Securities and Exchange Commission on 3-3-06. Copies of the filing are available upon request from XM Radio’s Investor Relations Department.
XM is America’s number one satellite radio service with more than 6 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall in of Fame Nashville, Toronto and Montreal, XM’s 2006 lineup includes 160 digital channels of choice from coast to coast: the most commercial-free music channels, plus premier sports, talk, comedy, children’s and entertainment programming; and 21 channels of the most advanced traffic and weather information.
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