XM Satellite Radio Inc., an emerging force in broadcasting, was incorporated in 1992 and is a wholly owned subsidiary of XM Satellite Radio Holdings Inc. XM is publicly traded on the NASDAQ exchange since October 5, 1999. XM's founding was prompted by the radio industry's first major technological change since the popularization of FM radio in the 1970s: the creation of a third broadcast medium, transmitted by satellite, now taking its place alongside AM and FM on the radio dial. One of only two companies with a license for this new national audio service, XM has assembled a "dream team" of creative radio professionals and a management team committed to leading the world into the next generation of radio. In 2004, XM transmits over 120 discrete, nationwide radio channels to subscribers throughout the continental U.S. in digital sound from coast to coast.
XM's powerful strategic and equity partners are leaders in their respective industries. These include General Motors, the largest U.S. auto and truck manufacturer; Honda Motors; Clear Channel, the largest U.S. radio station operator.
Our partnerships with GM, Honda, and other auto manufacturers, with leading audio manufacturers such as Delphi, Pioneer, Alpine and Sony, and with electronics retailers such as Walmart, Best Buy, Circuit City, Sears and participating Radio Shack franchise dealers favorably position XM Radio within the reach of millions of consumers.
In addition to our corporate headquarters and broadcast facilities in Washington, D.C., XM has broadcast facilities in New York and Nashville, and additional offices in Boca Raton, FL; Southfield, MI; and Yokohama, Japan.
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