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Hyundai Motor America And Sirius XM Radio Extend Relationship

Stocks in this article: SIRI

NEW YORK, Dec. 13, 2012 /PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) and Hyundai Motor America today announced an agreement that extends SiriusXM's relationship with Hyundai for three years, including a provision for further extension through August of 2017.

(Logo: http://photos.prnewswire.com/prnh/20101014/NY82093LOGO )

All Hyundai customers will receive a 3-month SiriusXM subscription with the purchase of any new Hyundai vehicle with a factory-equipped satellite radio.

"We are pleased to continue giving Hyundai customers access to SiriusXM's best-in-class audio entertainment as a standard feature across our vehicle lineup," said Michael Deitz, Senior Group Manager, Connected Car, Hyundai Motor America. "Customers tell us that quality audio entertainment is one of the most important features in a vehicle, so the continuation of our relationship with SiriusXM makes their very first experiences in their new Hyundai even more memorable."

"Hyundai created significant customer and dealer satisfaction by making satellite radio standard across its vehicle lineup," said Steve Cook, Group Vice President and General Manager, Automotive Division, SiriusXM. "Hyundai is one of the fastest-growing car companies. We are excited to extend our relationship with them and to welcome even more new Hyundai owners to our growing ranks of subscribers for years to come."

For more information on SiriusXM, please visit www.siriusxm.com.

About Sirius XM Radio

Sirius XM Radio Inc. is the world's largest radio broadcaster measured by revenue and has 23.4 million subscribers.  SiriusXM creates and broadcasts commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment; and the most comprehensive Latin music, sports and talk programming in radio. SiriusXM is available in vehicles from every major car company in the U.S., from retailers nationwide, and online at siriusxm.com. SiriusXM programming is also available through the SiriusXM Internet Radio App for Android, Apple, and BlackBerry smartphones and other connected devices. SiriusXM also holds a minority interest in SiriusXM Canada which has more than 2 million subscribers.

About Hyundai Motor America

Hyundai Motor America, headquartered in Costa Mesa, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 820 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile powertrain warranty, and five years of complimentary Roadside Assistance.

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 may differ materially from the results anticipated in these forward-looking statements.  

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:  our competitive position versus other forms of audio entertainment; our dependence upon automakers; general economic conditions; failure of our satellites, which, in most cases, are not insured; our ability to attract and retain subscribers at a profitable level; royalties we pay for music rights; the unfavorable outcome of pending or future litigation; failure of third parties to perform; and our substantial indebtedness.  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, 2011, which is 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.

Follow SiriusXM on Twitter or  like the SiriusXM page on Facebook.

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