NEW YORK and HAWTHORNE,
Calif. and WESTMINSTER, Colo., Dec. 13,
2020 /PRNewswire/ -- Maxar Technologies (NYSE:MAXR)
(TSX:MAXR), a trusted partner and innovator in Earth Intelligence
and Space Infrastructure, SiriusXM, the leading audio entertainment
company in the United States, and
SpaceX, today announced that the SXM-7 satellite was successfully
launched and is performing properly.
SXM-7, a high-powered digital audio radio satellite, was
launched aboard a SpaceX Falcon 9 rocket from Cape Canaveral, Florida earlier today. Shortly
afterward, SXM-7 deployed its solar arrays and began receiving and
sending signals. Next, SXM-7 will begin firing its thrusters to
commence its journey to its final geostationary orbit.
SXM-7 will provide continuous, reliable delivery of SiriusXM's
audio entertainment and information services to consumers in
the United States, and will expand
SiriusXM's coverage area in Canada
and the Caribbean, for years to
come. SXM-7 will deliver the highest power density of any
commercial satellite on-orbit, sending more than 8,000 watts of
content to the continental U.S., Canada, Puerto
Rico and the Caribbean,
increasing the power and reach of the signal for SiriusXM.
"Maxar and SiriusXM have worked together for more than two
decades to build world-class digital audio radio satellites that
bring entertainment to almost every new car in America," said
Megan Fitzgerald, Maxar's Senior
Vice President of Space Programs Delivery. "We are proud to have
built the latest addition to the SiriusXM constellation and look
forward to the launch of their next Maxar-built satellite, SXM-8,
next year."
"SXM-7 plays an important role in bolstering the continuity and
reliable delivery of SiriusXM's audio entertainment, as well as our
traffic, weather, data and information services for years to come,"
said Bridget Neville, SiriusXM's
Senior Vice President of Satellite and Repeater Systems Engineering
and Operations. "With the addition of SXM-7, our
satellite-delivered service coverage area in North America is larger and more powerful than
ever before. We congratulate our engineering team, Maxar and SpaceX
on a successful launch."
"We had a beautiful Falcon 9 launch today, safely delivering
SXM-7 to orbit," said Lee Rosen,
SpaceX's Vice President of Customer Operations and Integration.
"This was the seventh flight for this rocket's first stage booster,
and we are grateful SiriusXM chose our flight-proven hardware to
help broaden its coverage area."
SXM-7 weighs almost 7,000 kg and is built on Maxar's 1300-class
platform, the world's most prevalent geosynchronous spacecraft
platform. The satellite is designed to provide service for greater
than 15 years. Maxar has previously built a total of seven
satellites for SiriusXM, including its first-generation Sirius
satellites that launched in 2000 and its second-generation Sirius
satellites that launched in 2009 and 2013.
SXM-7 joins XM-3, XM-4, XM-5, FM-5, and FM-6 in SiriusXM's
active satellite fleet. SXM-7 and SXM-8 together will replace XM-3
and XM-4, extending SiriusXM's satellite delivered services through
at least 2036.
About Maxar
Maxar is a trusted partner and innovator
in Earth Intelligence and Space Infrastructure. We deliver
disruptive value to government and commercial customers to help
them monitor, understand and navigate our changing planet; deliver
global broadband communications; and explore and advance the use of
space. Our unique approach combines decades of deep mission
understanding and a proven commercial and defense foundation to
deploy solutions and deliver insights with unrivaled speed, scale
and cost effectiveness. Maxar's 4,000 team members in 20 global
locations are inspired to harness the potential of space to help
our customers create a better world. Maxar trades on the New York
Stock Exchange and Toronto Stock Exchange as MAXR. For more
information, visit www.maxar.com.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI)
is the leading audio entertainment company in the U.S., and the
premier programmer and platform for subscription and digital
advertising-supported audio products. Pandora, a subsidiary of
SiriusXM, is the largest ad-supported audio entertainment streaming
service in the U.S. SiriusXM and Pandora's properties reach more
than 150 million listeners, the largest addressable audience in the
U.S., across all categories of digital audio – music, sports, talk,
and podcasts. SiriusXM's acquisitions of Stitcher and Simplecast,
alongside industry-leading ad tech company AdsWizz, make it a
leader in podcast hosting, production, distribution, analytics and
monetization. SiriusXM, through Sirius XM Canada Holdings,
Inc., also offers satellite radio and audio entertainment in
Canada. In addition to its audio
entertainment businesses, SiriusXM offers connected vehicle
services to automakers. For more about SiriusXM, please go to:
www.siriusxm.com.
This communication contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, but are not limited to,
statements about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend,"
"plan," "projection," "outlook" or words of similar meaning. Such
forward-looking statements are based upon the current beliefs and
expectations of our management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements.
The following factors, among others, could cause actual
results and the timing of events to differ materially from the
anticipated results or other expectations expressed in the
forward-looking statements: the current coronavirus
(COVID-19) pandemic is adversely impacting our
business; our substantial competition that is likely to
increase over time; our efforts to attract and retain subscribers
and listeners, or convert listeners into subscribers, which may not
be successful, and may adversely affect our business; our Pandora
ad-supported business has suffered a loss of monthly active users,
which may adversely affect our Pandora business; privacy and data
security laws and regulations may hinder our ability to market our
services, sell advertising and impose legal liabilities; we engage
in extensive marketing efforts and the continued effectiveness of
those efforts are an important part of our business; consumer
protection laws and our failure to comply with them could damage
our business; a substantial number of our Sirius XM subscribers
periodically cancel their subscriptions and we cannot predict how
successful we will be at retaining customers; our ability to
profitably attract and retain subscribers to our Sirius XM service
as our marketing efforts reach more price-sensitive consumers is
uncertain; our failure to convince advertisers of the benefits of
our Pandora ad-supported service could harm our business; if we are
unable to maintain revenue growth from our advertising products,
particularly in mobile advertising, our results of operations will
be adversely affected; if we fail to accurately predict and play
music, comedy or other content that our Pandora listeners enjoy, we
may fail to retain existing and attract new listeners; if we fail
to protect the security of personal information about our
customers, we could be subject to costly government enforcement
actions and private litigation and our reputation could suffer;
interruption or failure of our information technology and
communications systems could impair the delivery of our service and
harm our business; we rely on third parties for the operation of
our business, and the failure of third parties to perform could
adversely affect our business; our business depends in part upon
the auto industry; our Pandora business depends in part upon
consumer electronics manufacturers; the market for music rights is
changing and is subject to significant uncertainties; our ability
to offer interactive features in our Pandora services depends upon
maintaining licenses with copyright owners; the rates we must pay
for "mechanical rights" to use musical works on our Pandora service
have increased substantially and these new rates may adversely
affect our business; failure of our satellites would significantly
damage our business; our Sirius XM service may experience harmful
interference from wireless operations; failure to comply with FCC
requirements could damage our business; economic conditions,
including advertising budgets and discretionary spending, may
adversely affect our business and operating results; if we are
unable to attract and retain qualified personnel, our business
could be harmed; we may not realize the benefits of acquisitions or
other strategic investments and initiatives, including the
acquisition of Pandora; our use of pre-1972 sound recordings on our
Pandora service could result in additional costs; we may from time
to time modify our business plan, and these changes could adversely
affect us and our financial condition; we have a significant amount
of indebtedness, and our debt contains certain covenants that
restrict our operations; our facilities could be damaged by natural
catastrophes or terrorist activities; the unfavorable outcome of
pending or future litigation could have an adverse impact on our
operations and financial condition; failure to protect our
intellectual property or actions by third parties to enforce their
intellectual property rights could substantially harm our business
and operating results; some of our services and technologies may
use "open source" software, which may restrict how we use or
distribute our services or require that we release the source code
subject to those licenses; rapid technological and industry changes
and new entrants could adversely impact our services; existing or
future laws and regulations could harm our business; we may be
exposed to liabilities that other entertainment service providers
would not customarily be subject to; our business and prospects
depend on the strength of our brands; we are a "controlled company"
within the meaning of the NASDAQ listing rules and, as a result,
qualify for, and rely on, exemptions from certain corporate
governance requirements; while we currently pay a quarterly cash
dividend to holders of our common stock, we may change our dividend
policy at any time; and our principal stockholder has significant
influence, including over actions requiring stockholder approval,
and its interests may differ from the interests of other holders of
our common stock. Additional factors that could cause our results
to differ materially from those described in the forward-looking
statements can be found in our Annual Report on Form 10-K for the
year ended December 31, 2019 and Quarterly Report on Form 10-Q for
the quarter ended March 30, 2020, which are filed with the
Securities and Exchange Commission (the "SEC") and available at the
SEC's Internet site (http://www.sec.gov). The
information set forth herein speaks only as of the date hereof, and
we disclaim any intention or obligation to update any forward
looking statements as a result of developments occurring after the
date of this communication.
Source: SiriusXM
Investor Relations Contacts:
Jason Gursky
Maxar VP, Investor Relations and Corporate Treasurer
1-303-684-2207
jason.gursky@maxar.com
Hooper Stevens
SiriusXM
212-901-6718
hooper.stevens@siriusxm.com
Media Contacts:
Kristin
Carringer
Maxar Media Relations
1-303-684-4352
kristin.carringer@maxar.com
Patrick Reilly
SiriusXM
Patrick.Reilly@siriusxm.com
Kevin Bruns
SiriusXM
Kevin.Bruns@siriusxm.com
SpaceX
media@spacex.com
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SOURCE Sirius XM Holdings Inc.