Delphi and WORLDSPACE® Satellite Radio Announce Development Agreements for European Satellite Radio Receivers
Delphi to Design Original Equipment and Aftermarket Receivers
LAS VEGAS — Delphi Corp. (PINKSHEETS: DPHIQ) and WORLDSPACE® Satellite Radio (NASDAQ: WRSP) announced today that the two companies have an agreement in which Delphi will design the first WORLDSPACE satellite radio mobile receiver for the European aftermarket based on a WORLDSPACE-developed reference design. In addition, the two companies announced that WORLDSPACE has selected Delphi to be a lead designer for its European OEM receiver and reception system applications that will also be based on WORLDSPACE’s reference designs. Delphi made the announcement at the 2008 International Consumer Electronics Show.
Designed by Delphi for European aftermarket applications, the WORLDSPACE aftermarket receiver will receive the signal from the WORLDSPACE satellite which covers the European continent. The satellite digital radio (SDR) standard that was approved by the technical committee of the European Telecommunications Standards Institute (ETSI) in November 2006 is the core of the technology that WORLDSPACE is implementing in its satellite radio communication networks in Europe. It combines terrestrial repeaters and satellites and permits the most efficient use of the spectrum allocated for satellite radio (12.5 MHz from 1479.5 to 1492), thus maximizing digital capacity while maintaining excellent service quality, even in difficult reception environments such as urban city centers.
The aftermarket receiver is expected to be launched in parallel with the start of WORLDSPACE’s mobile service beginning in Italy in 2009. WORLDSPACE expects to begin broadcasting 40 to 50 channels of commercial-free music, news, talk, entertainment and sports programming 24 hours a day. WORLDSPACE plans to use the most advanced digital audio technology available today (MPEG-4 accPLUS v.2). Delphi’s receiver designs will leverage the company’s satellite radio expertise and feature the advanced mobile service capabilities built into the new WORLDSPACE system.
“Based on Delphi’s long history in providing satellite radio systems, Delphi can offer high-class technologies and superior functionality in a receiver designed for the growing European satellite radio market,” said Dr. Andreas Hunscher, Delphi managing director of reception systems.
Delphi will lead the development of WORLDSPACE’s receiver and reception applications at its European Satellite Radio Center of Excellence in Bad Salzdetfurth, Germany. At the facility, Delphi has the unique capability to merge expertise in high-performance antenna systems with advanced receiver technology.
“We have always been, and will continue to be, staunch supporters of the global introduction and growth of satellite radio across the globe,” said Ken Erickson, lead executive for Delphi’s entertainment and communications product business unit. “This announcement reiterates our commitment to the satellite radio category.”
WORLDSPACE has two operational satellites that cover nearly two-thirds of the world’s population. Its AfriStar™ satellite covers Europe, the Middle East and Africa. The company’s strategy is to roll out a European service, beginning with Italy. A third satellite, already built and in storage in Toulouse, France, will provide additional capacity over Europe, enabling consumers to have access to approximately 50 channels per country at the service’s maturity.
“We are fortunate to be working with a company that has such deep knowledge of and experience in the SDARS arena. This agreement with Delphi will go a long way toward ensuring a successful launch of the WORLDSPACE Mobile Service in Europe and beyond,” stated Alexander P. Brown, WORLDSPACE’s co-chief operating officer.
As a leading provider of satellite reception hardware design, Delphi has manufactured more than 18 million satellite receivers for retailers and vehicle manufacturers in North America, just six years after introducing the first satellite radio receiver. With this long heritage as a development partner of choice in automotive satellite entertainment, Delphi is bringing its expertise to the fast-growing European satellite radio market.
Based in the Washington, D.C., metropolitan area, WORLDSPACE is the world’s only global media and entertainment company positioned to offer a satellite radio experience to consumers in more than 130 countries with five billion people, driving 300 million cars. WORLDSPACE subscribers benefit from a unique combination of local programming, original WORLDSPACE content and content from leading brands around the globe including the BBC, CNN International, Virgin Radio UK, and RFI. WORLDSPACE is a pioneer of satellite-based digital radio services and was instrumental in the development of the technology infrastructure used today by XM Satellite Radio.
For more information about Delphi, visit www.delphi.com.
For more information, visit www.WORLDSPACE.com.
This press release, as well as other statements made by Delphi may contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession financing facility and to obtain an extension of term or other amendments as necessary to maintain access to such facility; the terms of any reorganization plan ultimately confirmed; the Company’s ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; the Company’s ability to satisfy the terms and conditions of the EPCA; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan (including the transformation plan described in its filings with the SEC and the Bankruptcy Court. and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006, including the risk factors in Part I. Item 1A. Risk Factors, contained therein and the Company’s quarterly periodic reports for the subsequent periods, including the risk factors in Part II. Item 1A. Risk Factors, contained therein, filed with the SEC. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various prepetition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy cases to each of these constituencies. A plan of reorganization could result in holders of Delphi’s common stock receiving no distribution on account of their interest and cancellation of their interests. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have little or no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi’s common stock or other equity interests or any claims relating to prepetition liabilities.
For more information contact:
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.