Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Anyone know what percentage Clear Channel owns of XM radio?

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU
 
still_one Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 04:01 AM
Original message
Anyone know what percentage Clear Channel owns of XM radio?
Printer Friendly | Permalink |  | Top
cosmicdot Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:31 AM
Response to Original message
1. from what I can see, about 7%
Edited on Sun Apr-18-04 07:33 AM by cosmicdot
Clear Channel was an early investor; and, one of the Mays family is on XM's Board of Directors. There's, also, a "Hicks" ... don't know if that is Thomas O. Hicks relative (son) or not. The Board as a whole has powerful ties to such companies as Nextel, Quest and Hughes (are they now part of Boeing??}.

Jul 8, 1999

Clear Channel, DIRECTV and General Motors invest $250 million in XM.

The combined $250 million is comprised of $75 million each from Clear Channel and the private investment group and $50 million each from General Motors and DIRECTV. American Mobile also completed its acquisition of WorldSpace Inc.'s interest in XM.

http://www.xmradio.com/corporate_info/history_main.jsp

One interesting tie is with Liberty Media, which seems to have its fingers in a lot of stuff ... including Murdoch's News Corporation. Janus, which is a beneficial holder of stock with Clear Channel, owns about 6% of Liberty (144,001 6.0%)http://www.libertymedia.com/liberty_glance/default.htm

A company's annual report to stockholders is filed as DEF14A with the SEC ... which contains such info as Board biographies, and beneficial stock ownership information.
http://www.xmradio.com/investor/investor_frameset.jsp?u...

Janus Capital Management LLC
144,001 shares 6.0%
100 Fillmore Street Denver,CO 80206



XM, also, has operational agreements with Clear Channel.

Randall T. Mays has served as a member of our Board of Directors since July 1999. Mr. Mays is the Executive Vice President and Chief Financial Officer of Clear Channel Communications. Mr. Mays has been associated with Clear Channel since 1993 when he was elected Vice President and Treasurer. Mr. Mays also serves on the board of directors of Clear Channel Communications and CNET Networks.


SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
AND RELATED STOCKHOLDER MATTERS

The information presented under Principal Stockholders and Security Ownership of Directors and Executive Officers below regarding beneficial ownership of the common stock has been presented in accordance with the rules of the SEC and is not necessarily indicative of beneficial ownership for any other purpose. Under these rules, beneficial ownership of common stock includes any shares as to which a person, directly or indirectly, has or shares voting power or investment power and also any shares as to which a person has the right to acquire such voting or investment power within 60 days through the exercise of any stock option or other right.

As of April 1, 2003, there were 108,185,043 shares of Class A common stock outstanding.

Clear Channel Investments, Inc. 200 Concord Plaza, Suite 600 San Antonio, TX 78216

8,329,877 7.7 % 6.2%

Operating Agreements


- We have entered into director designation agreements under which members selected by AEA XM Investors, Clear Channel, General Motors and American Honda have been elected to our Board of Directors. These provisions are described above under the caption Election of DirectorsDirector Designation Agreements; Board Observers.

- We have entered into a shareholders and noteholders agreement with AEA XM Investors, Clear Channel Investments, affiliates of Columbia Capital, Hughes Electronics, American Honda and affiliates of Madison Dearborn Partners, General Motors, DIRECTV and the investors that participated in our January 2003 financing transactions.

- Clear Channel Agreements

We have an advertising sales arrangement with Premiere Radio Networks, an affiliate of Clear Channel Communications. Under this arrangement, Premiere sells to advertisers time inventory owned by XM Radio for advertisements to be run on XM Radio channels. Under separate agreements, we also run advertisements on a spot and network basis on radio stations owned by Clear Channel Communications. We have a sponsorship agreement with Clear Channel Entertainment, pursuant to which we are, with certain exceptions, the exclusive satellite radio advertiser at Clear Channel Entertainment events and venues. We also lease several terrestrial repeater sites from Clear Channel Communications. During the fiscal year ended December 31, 2002, we incurred $10.2 million under these arrangements.

We have additional agreements with affiliates of Clear ChannelCommunications described below under the headings Operational Agreements and Director Designation Agreements.

- Bandwidth. We have agreements with Clear Channel, DIRECTV and the TCM Group (which is owned by Columbia Capital, Telcom Ventures (an XM stockholder) and Madison Dearborn Partners) under which we have agreed to make available to such companies up to 406.6 kilobits per second, 204.8 kilobits per second, 64.0 kilobits per second each, respectively, of our bandwidth, for such companies to supply programming to us with content reasonably acceptable to us, on terms (including revenue sharing) no less favorable than those offered to similar commercial programmers who provide similar programming. Only Clear Channel has taken advantage of its agreement to provide programming on our system. Until these options are exercised and this bandwidth is actually used by such companies, we can use the bandwidth. Any use of our bandwidth by these companies must be in compliance with applicable laws, must not interfere with our business or obligations to other content providers, and must meet our quality standards. These agreements remain in effect so long as Clear Channel, DIRECTV, and Columbia Capital, Telcom Ventures and Madison Dearborn Partners hold at least 5% of our fully diluted ownership or a certain amount of their original investments in us.

- Technology License. We have granted to Clear Channel, DIRECTV, and TCM Group under the agreements described above a royalty-free, non-transferable, non-exclusive license to use, sell, manufacture and have manufactured any and all technology we develop relating to the XM Radio system worldwide for any purpose other than one related to digital audio radio service.

- Advertising and Distribution. We provide Clear Channel and DIRECTV with access to our advertising at the lowest available commercial rates. Clear Channel must make good faith efforts to give us access to its advertising at the lowest available commercial rates.

The agreements provide for further good faith negotiations with respect to other arrangements, including advertising barter arrangements, marketing of XM Radio service by Clear Channel and DIRECTV, and technology cooperation. We also have an advertising sales arrangement with Premiere Radio Networks, an affiliate of Clear Channel Communications, as described above under the heading Clear Channel Agreements.

- We have a registration rights agreement with AEA XM Investors, Clear Channel Investments, Columbia Capital, Hughes Electronics, American Honda and Madison Dearborn Partners, General Motors, DIRECTV and the investors that participated in our January 2003 financing transactions.

- We have entered into director designation agreements under which members selected by AEA XM Investors, Clear Channel, General Motors and American Honda have been elected to our Board of Directors. These provisions are described above under the caption Election of DirectorsDirector Designation Agreements; Board Observers.

- We have entered into a shareholders and noteholders agreement with AEA XM Investors, Clear Channel Investments, Columbia Capital, Hughes Electronics, American Honda and Madison Dearborn Partners, General Motors, DIRECTV and the investors that participated in our January 2003 financing transactions, which is further described above under the caption Security Ownership of Certain Beneficial Owners and Related Stockholder MattersShareholders and Noteholders Agreement.



Other XM Board Members:

Gary M. Parsons has served as our Chairman of the Board of Directors since May 1997. Mr. Parsons was Chairman of the Board of Directors of Motient Corporation from March 1998 to May 2002. Mr. Parsons joined Motient in July 1996 and also served as its Chief Executive Officer and President. He serves on the board of Sorrento Networks Corporation and is Chairman and Chief Executive Officer of Mobile Satellite Ventures L.P. Previously, Mr. Parsons was with MCI Communications Corporation where he served in a variety of roles from 1990 to 1996, including most recently as Executive Vice President of MCI Communications, and as Chief Executive Officer of MCIs subsidiary MCImetro, Inc. From 1984 to 1990, Mr. Parsons was one of the principals of Telecom*USA, which was acquired by MCI. Prior to the recruitment of Hugh Panero, Mr. Parsons served as our Chief Executive Officer.

Hugh Panero has served as a member of our Board of Directors and as President and Chief Executive Officer since June 1998. Mr. Panero has over 16 years experience building and managing entertainment distribution services. Most recently, from 1993 to 1998, Mr. Panero served as President and Chief Executive Officer of Request TV, a national pay-per-view network owned by Liberty Media and Twentieth Century Fox. Prior to his employment with Request TV, Mr. Panero spent ten years with Time Warner Cable where he was part of the team that built the cable systems serving parts of Queens and Brooklyn, New York. Mr. Panero held various positions with Time Warner Cable, including Vice President, Marketing.

Nathaniel A. Davis has served as a member of our Board of Directors since October 1999. Mr. Davis is President and Chief Operating Officer and a member of the board of directors of XO Communications Inc., formerly Nextlink Communications Inc. XO Communications filed a petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code in June 2002 and completed its restructuring and emerged from Chapter 11 in January 2003. From October 1998 to December 1999, he was Executive Vice President of Nextel Communications where he had responsibility for the technical and engineering operations of Nextels nationwide switching and wireless communications network, billing and information technology systems. From August 1986 through September 1998, Mr. Davis served in a variety of senior engineering and finance roles at MCI, most recently as Senior Vice President and Chief Financial Officer of MCI Telecommunications. Mr. Davis serves on the board of directors of Mutual of America Capital Management Corporation.

Thomas J. Donohue has served as a member of our Board of Directors since October 1999. Mr. Donohue is President and Chief Executive Officer of the U.S. Chamber of Commerce, the worlds largest business federation, and has been active in national policy and non-profit operations for 30 years. From July 1984 through September 1997, Mr. Donohue served as President and Chief Executive Officer of the American Trucking Association. He serves on the board of directors of Qwest Communications International, Union Pacific Corporation, Sunrise Assisted Living Corporation, Marymount University and the Hudson Institute.


Thomas G. Elliott has served as a member of our Board of Directors since January 2003. Mr. Elliott is executive vice president, automobile operations and a director of American Honda Motor Co., Inc. Mr. Elliott became senior vice president, automobile operations of American Honda in 1986, and in 1988 was promoted to executive vice president and was named to the American Honda Board of Directors. He was appointed to the Honda North America Board of Directors in 1992. In 1992, additionally, Mr. Elliott became president of Honda Performance Development, Inc., a subsidiary of American Honda, established to manage the Honda Championship Auto Racing Team (CART) racing and race engine development programs. Mr. Elliott is a director of American Honda Finance Corporation, a subsidiary of American Honda that provides financing for the lease and sale of Honda products in the United States, and a director of Honda Performance Development.

R. Steven Hicks has served as a member of our Board of Directors since January 2003. Mr. Hicks is Chairman of Click Radio. From 1996 to October 1999, he served as President and Chief Executive Officer of Capstar Broadcasting. From October 1999 to August 2000, Mr. Hicks was the Vice Chairman and President of AMFM Inc.s New Media division, which developed internet products and technologies for the radio industry. Mr. Hicks is a director of Prime Medical Services, Inc.

James N. Perry has served as a member of our Board of Directors since May 2002. Mr. Perry a is a Managing Director of Madison Dearborn Partners, Inc., a Chicago-based private equity investing firm, where he specializes in investing in companies in the communications industry. Mr. Perry also presently serves on the board of directors of Allegiance Telecom, Inc. and Focal Communications Corporation.

Pierce J. Roberts, Jr. has served as a member of our Board of Directors since August 2000. Mr. Roberts has been Managing Director of AEA Investors since September 1999. Previously, he was with Bear Stearns from 1993 to 1998 where he was the head of the Telecom investment banking group. Prior to that, he was Managing Director at The Blackstone Group, Vice President-Corporate Development at BellSouth Corporation, and founder of his own corporate development business.

Jack Shaw has served as a member of our Board of Directors since May 1997. Mr. Shaw is Chief Executive Officer of Hughes Electronics Corporation and served as Chief Executive Officer and Chairman of Hughes Network Systems, Inc. from 1987 and 1988, respectively, through January 2000. Mr. Shaw is a member of the Hughes Electronics Corporation Executive Committee and board of directors. Previously, Mr. Shaw held senior management positions with companies including ITT Space Communications, Inc., Digital Communications Corporation and M/A-Com Telecommunications, Inc., which was acquired by Hughes Electronics Corporation in 1987. Mr. Shaw is Chairman of the Board of Directors of PanAmSat Corporation.

Liberty Media Corporation (NYSE: L, LMC.B) is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses operating in the United States, Europe, South America and Asia. Our businesses are classified in three groups; Interactive, Networks and International and include some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, UnitedGlobalCom, Inc., IAC/InterActiveCorp, and News Corporation.

Printer Friendly | Permalink |  | Top
 
KharmaTrain Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:40 AM
Response to Reply #1
2. GREAT Catch! Thank You
One area that you won't find...and that's the real noteholders and investors inside the investment houses and banks that sign on and off on the huge loans and refinancing deals that have kept XM going...and are used by Clear Channel to expand their media empire.

Clear Channel wants XM to fail to succeede...be a "premium" radio for the few who can afford it while they maintain control on exisiting analog radio for as long as they can. Eventually the marketplace will force them to go digital, and they just want to be positioned to dominate there when that time comes and to defer it as long as possible.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Apr 23rd 2014, 01:29 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC