Technology
XM Extends Another Big Pact
01/31/07 - 09:19 AM EST
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XM XMSR is extending another exclusive contract with a big auto partner. The Washington, D.C., pay-radio broadcaster says Toyota TM has agreed to provide XM radios as factory-installed options in its vehicles until 2017. The renewed pact comes a day after Honda HMC reupped its exclusive agreement with XM until 2016. "We're pleased to extend our agreement with Toyota through 2017, making XM available as the sole provider of factory-installed satellite radio for one of the world's largest and most successful auto manufacturers," XM president Nate Davis said in a press release Wednesday. In addition to Toyota and Honda, XM has exclusive contracts with GM GM, Nissan, Hyundai and Porsche. Satellite radio rival Sirius SIRI has partnered with Ford F, DaimlerChrysler DCX, Volkswagen, BMW and Kia. XM shares were up 15 cents to $14.05, and Sirius was unchanged at $3.71 in premarket trading Wednesday.
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