Maxar Awarded Contract to Build New Satellite for SiriusXM
Maxar Technologies (NYSE:MAXR) has announced the manufacturing of a new geostationary communications satellite, SXM-9, for its long-term client SiriusXM. The satellite will utilize Maxar's reliable 1300-class platform and is set for launch in 2024. This partnership continues a relationship that began in 2000, including successful satellite launches in the years since. Maxar remains a key player in the space infrastructure and Earth Intelligence sectors, focusing on innovative solutions and customer service.
- Continuation of a long-term partnership with SiriusXM, strengthening customer ties.
- Manufacturing of the SXM-9 satellite highlights Maxar's expertise in satellite technology.
- Expected launch of SXM-9 in 2024 indicates ongoing business opportunities and revenue potential.
- None.
Maxar Technologies (NYSE:MAXR) (TSX:MAXR) today announced the company will manufacture a new geostationary communications satellite for longtime customer SiriusXM.
This rendering shows what the Maxar-built SXM-9 will look like once on orbit. Image credit: Maxar.
The SXM-9 satellite will be based on Maxar’s proven 1300-class platform and built at the company’s manufacturing facility in Palo Alto, California. It is expected that SXM-9 will launch in 2024.
“Maxar’s 1300-class platform has served as a reliable spacecraft platform for decades, and we’re glad to see SiriusXM will rely on its performance once again,” said Robert Curbeam, Maxar Senior Vice President of Space Capture. “We’re looking forward to continuing our decades-long relationship with SiriusXM.”
Maxar has been building satellites for SiriusXM since 2000, which includes the first-generation Sirius satellites launched in 2000 and the second-generation Sirius satellites launched in 2009 and 2013. Most recently, SXM-8 launched from Cape Canaveral, Florida on June 6, 2021, and completed in-orbit testing in July 2021.
About Maxar
Maxar is a trusted partner and innovator in Earth Intelligence and Space Infrastructure. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar’s 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in North America, and the premier programmer and platform for subscription and digital advertising-supported audio products. SiriusXM’s platforms collectively reach approximately 150 million listeners, the largest digital audio audience across paid and free tiers in North America, and deliver music, sports, talk, news, comedy, entertainment and podcasts. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM’s subsidiaries Stitcher, Simplecast and AdsWizz make it a leader in podcast hosting, production, distribution, analytics and monetization. The Company’s advertising sales organization, which operates as SXM Media, leverages its scale, cross-platform sales organization and ad tech capabilities to deliver results for audio creators and advertisers. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers. For more about SiriusXM, please go to: www.siriusxm.com.
Forward-Looking Statements
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Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this presentation. As a result, although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The risks that could cause actual results to differ materially from current expectations include, but are not limited to, the risk factors and other disclosures about the Company and its business included in the Company's continuous disclosure materials filed from time to time with U.S. securities and Canadian regulatory authorities, which are available online under the Company's EDGAR profile at www.sec.gov, under the Company's SEDAR profile at www.sedar.com or on the Company's website at www.maxar.com.
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