XM's announcement comes on the heels of rival Sirius Satellite Radio's completion of a $230 million IPO Feb. 28.
XM also announced that its satellite radios, made by car stereo manufacturer Pioneer, are now availabe at retail outlets including Best Buy, Circuit City Stores, RadioShack and Sears Roebuck & Co. XM and Sirius each plan to launch 100 digital-quality channels this spring or summer for a monthly fee of $9.95. Sirius' three satellites were launched last year, while XM plans to send its first sattelite into orbit March 18, after a postponed January launch. The consumer launches of the subscription-based satellite services will be backed by ad campaigns from TBWA/Chiat/Day, Playa del Rey, Cailf., for XM, and Goodby, Silverstein & Partners, San Francisco, for Sirius.
Copyright March 2001, Crain Communications Inc.