User:Quorum816/sandbox

Company History
The American Mobile Satellite Corporation was founded in 1998. In 1991, Lon Levin joined the company. In 1992, the American Mobile Satellite Corporation created a new division known as American Mobile Radio Corp. Later that year, American Mobile brought in WorldSpace as an investor.

On May 16, 1997, American Mobile Satellite and WorldSpace officially change the name of American Mobile Radio to XM Satellite Radio. Later that month, Lon Levin became president, a position he would hold until 1998. In October 1997, XM Satellite Radio obtains one of only two satellite digital audio radio service licenses offered by the Federal Communications Commission. In 1998 Hugh Panero leaves Request TV as its President and CEO, to join XM Satellite Radio in the same role.

In June 1999, Clear Channel Communications, DirecTV, General Motors, and a private investment group invest US$250 million in XM Satellite Radio convertible debt. On June 7, with GM's investment in XM, they enter into a 12-year "Distribution Agreement" between XM and GM subsidiary, OnStar Corporation. The agreement calls for exclusive installation of XM Satellite Radio into GM vehicles from November 12, 2001 until November 2013. OnStar must meet specific escalating installation rates each year, while XM must make extensive payments to OnStar for the installation and sale of XM in their vehicles, while sharing revenue earned from these radios with OnStar – as well as payments on the exclusivity agreement.

At the same time as the investment, American Mobile Satellite, still XM's parent company, reacquired the stake WorldSpace held in the company. In October, XM Satellite Radio issues 10,241,000 shares of Class A common stock at an IPO price of US$12.00 per share. American Mobile Satellite remains the majority holder of the public company.

In April 2000, American Mobile Satellite Corp. changed its name to Motient. In July, American Honda joined several private investors in a US$235 million preferred stock investment in the company.

On September 25, 2001, XM Satellite Radio launched in San Diego and Dallas/Fort Worth, with nationwide expansion plans set for November. The initial lineup included 100 channels consisting of sports, talk, children's programming, entertainment and news.

In October 2001, Motient was heading into bankruptcy and spun off their non-XM satellite division into a joint operation with TMI Communications and Company, L.P., a wholly owned subsidiary of BCE Inc. of Canada. The new venture was known as the Mobile Satellite Ventures. In November, Motient was in bankruptcy, and sold off their controlling interest in XM to Hughes Electronics, SingTel and Baron Capital Partners. Hughes Electronics would go on to combine this new interest in with the interest already held by their subsidiary, DirecTV.

On November 12, XM Satellite Radio marked the official launch of its nationwide service.

In January 2003, the company underwent a re-capitalization plan, involving XM exchanging US$300 million in old debt for new debt, while deferring interest for 3-years on the notes. They also restructured payment obligations on the General Motors installation agreement, issuing a convertible bond to GM, issuing a warrant for shares to GM, and establishing a revolving credit facility with GM. The plan also included new funding coming from a placement of over US$300 million in 10% convertible bonds to a group of private investors.

In 2004, General Motors sold Hughes Electronics to Rupert Murdoch's News Corp., and sold DirecTV's interest in XM Satellite Radio. On February 2, XM Radio announced 100% commercial free music lineup. On March 1, XM Radio launched Instant Traffic and Weather Channels for major metropolitan markets in the United States.

The company partners with automakers General Motors, Honda, Isuzu, Nissan, Toyota, Volkswagen, and SAAB to offer in-dash XM receivers on an OEM basis. The Acura TL is the first luxury automobile to offer XM radio as "standard" in every vehicle.

On October 4, "Shock" jocks Opie and Anthony begin broadcasting on a premium ($1.99/month extra) XM Satellite Radio station. Also, former National Public Radio host Bob Edwards broadcasts the first Bob Edwards Show on XM Public Radio, channel 133. On October 20, XM announces an 11-year, US$650 million deal with Major League Baseball to broadcast games live nationwide and become the Official Satellite Radio provider of Major League Baseball. The agreement grants XM the rights to use the MLB silhouetted batter logo and the collective marks of all major league clubs. As part of the deal, XM creates a 24/7 MLB channel called "Home Plate". The deal starts with the 2005 season and runs through the 2012, with a 3-year option that MLB can pick up. On October 26, XM presented its first XM2go portable XM receiver: The Delphi MyFi.

On January 5, 2005, XM introduced two new XM2go models: Pioneer's AirWare and the Tao from Giant International. On February 28, XM's third satellite, Rhythm, was successfull launched. On March 3, XM becomes the exclusive satellite partner of the Indy Racing League and Indianapolis 500 (IMS Radio Network). On April 11, XM announced that a deal has been reached to be the official satellite radio network of Air America Radio. On May 16, XM announced that subscribership has topped 4 million. On May 28, the Wall Street Journal reported that XM had been awarded the contract for the XM 5 spacecraft to Space Systems/Loral. On June 7, XM partnered with Audible.com to offer downloadable audio show archives of The Opie and Anthony Show, as well as The Bob Edwards Show. On August 1, XM announced a three-year partnership with the United States Tennis Association to broadcast the US Open tournament through 2007, as well as weekly reports from other US Open Series events. On September 13, XM announced a 10-year US$100 million deal to carry National Hockey League broadcasts beginning with the 2005–06 season, initially sharing the coverage with SIRIUS but gaining satellite-radio exclusivity from 2007 onward. On November 29, XM launched service in Canada.

On January 2, 2006, XM began broadcasting Fox News Talk. On January 9, XM won top honors at the 2006 Consumer Electronics Show. On February 9, XM announced a $55 million three-year deal with Oprah Winfrey's Harpo Productions. On July 24, Nate Davis, formerly of XO Communications, was made the president and chief operating officer. In October, the XM-4 "Blues" satellite was launched atop a Zenit 3SL rocket.

On January 18, 2007 the Federal Communications Commission ruled that licensing regulations would prohibit a possible merger of XM and rival Sirius Satellite Radio. On February 19, XM Satellite Radio Holdings Inc. and Sirius Satellite Radio announced they would merge, creating a satellite radio giant. See XM/Sirius merger.

On March 20, XM and Sirius Satellite Radio filed a "Consolidated Application for Authority to Transfer Control" at the FCC. On July 24, XM announced that CEO Hugh Panero would leave the company in August, and that then-current President and COO Nate Davis would step in to serve as President and interim CEO.

On March 24, 2008, the United States Department of Justice declined to block the merger of XM and Sirius Satellite Radio after thirteen months of review. On July 25, the FCC approved the XM-Sirius merger and on July 29, Sirius and XM officially merged as Sirius XM Radio XM Canada and Sirius Canada, subsidiaries of the parent companies remained separate until April 2011.

On February 11, 2009, XM prepared to file Chapter 11 bankruptcy. SIRI had a $1 billion debt obligation in 2009 and $175 million immediate obligation due February 17, 2009. On November 12, Gary Parsons resigned as chairman and was replaced by Eddy W. Hartenstein, as the new non-executive chairman.

On April 11, 2011, the Canadian Radio-television and Telecommunications Commission approved the merger of Sirius and XM branches in Canada into Sirius XM Canada.