SiriusXM's New SXM-8 Satellite, Built by Maxar, Completes In-Orbit Testing, Now Ready for Service

Rhea-AI Summary

Maxar Technologies and SiriusXM announced on July 29, 2021 that the SXM-8 satellite has successfully completed in-orbit testing and is now operational. The satellite, launched on June 6, 2021, is designed to provide over 15 years of service, enhancing SiriusXM's audio programming across the U.S., Canada, and the Caribbean. This deployment marks an important milestone in SiriusXM's efforts to improve service quality and expand coverage, ensuring reliable delivery of entertainment and information services well into 2036.

Positive

• SXM-8 enhances SiriusXM's satellite coverage in the U.S., Canada, and the Caribbean.
• The satellite is expected to provide service for over 15 years, extending the fleet's operational life.
• Successful completion of in-orbit testing indicates reliability and readiness for service.

Negative

• None.

NEW YORK and WESTMINSTER, Colo., July 29, 2021 /PRNewswire/ -- Maxar Technologies (NYSE:MAXR) (TSX:MAXR) and SiriusXM (NASDAQ: SIRI) announced today that the SXM-8 satellite has completed in-orbit testing and has been handed over to SiriusXM. A SpaceX Falcon 9 rocket launched the satellite into space on June 6, 2021, from Cape Canaveral, Florida.

SXM-8 is the ninth high-powered, digital, audio radio satellite built by Maxar for SiriusXM. Built on Maxar's 1300-class platform and designed to provide more than 15 years of service, SXM-8 is more than 27 feet tall and weighed nearly 7,000 kg at launch. SXM-8 has a large, mesh, unfurlable reflector almost 30 feet in diameter that will allow SiriusXM programming to reach its radios, including those in moving vehicles.

"We are proud of our long-standing relationship with SiriusXM and excited to see SXM-8 ready for service to bring entertainment to millions of SiriusXM subscribers," said Chris Johnson, Maxar's Senior Vice President of Space Programs Delivery. "The entire Maxar team is committed to excellence, and playing a role in the success of our customers' missions is what drives us every day."

"We are committed to enhancing our satellite fleet and ability to deliver the best audio entertainment, traffic, weather, data and information services for years to come," said Bridget Neville, SiriusXM's Senior Vice President of Satellite and Repeater Systems Engineering and Operations. "We congratulate our engineering team, Maxar and SpaceX on a successful launch and commissioning."

SXM-8 will provide continuous, reliable delivery of SiriusXM's audio entertainment and information services to consumers in the United States and will expand SiriusXM's coverage area in Canada and the Caribbean. SXM-8 will extend the health of SiriusXM's satellite fleet and its satellite-delivered services through at least 2036.

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. 

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 and the timing of events may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:  we face substantial competition and that competition is likely to increase over time; our efforts to attract and retain subscribers and listeners, or convert listeners into subscribers, which may not be successful, and may adversely affect our business; we engage in extensive marketing efforts and the continued effectiveness of those efforts is an important part of our business; we rely on third parties for the operation of our business, and the failure of third parties to perform could adversely affect our business; we may not realize the benefits of acquisitions and other strategic investments and initiatives; a substantial number of our Sirius XM subscribers periodically cancel their subscriptions and we cannot predict how successful we will be at retaining customers; our ability to profitably attract and retain subscribers to our Sirius XM service as our marketing efforts reach more price-sensitive consumers is uncertain; our business depends in large part on the auto industry; vehicle production and sales are dependent on may factors, including the availability of consumer credit, general economic conditions, consumer confidence, fuel costs and component supply shortages; the impact of COVID-19, including its variant strains, on our business; failure of our satellite would significantly damage our business; our Sirius XM service may experience harmful interference from wireless operations; our Pandora ad-supported business has suffered a substantial and consistent loss of monthly active users, which may adversely affect our Pandora business; our failure to convince advertisers of the benefits of our Pandora ad-supported service could harm our business; if we are unable to maintain revenue growth from our advertising products, particularly in mobile advertising, our results of operations will be adversely affected; changes in mobile operating systems and browsers may hinder our ability to sell advertising and market our services; if we fail to accurately predict and play music, comedy or other content that our Pandora listeners enjoy, we may fail to retain existing and attract new listeners; privacy and data security laws and regulations may hinder our ability to market our services, sell advertising and impose legal liabilities; consumer protection laws and our failure to comply with them could damage our business; failure to comply with FCC requirements could damage our business; if we fail to protect the security of personal information about our customers, we could be subject to costly government enforcement actions and private litigation and our reputation could suffer; interruption or failure of our information technology and communications systems could impair the delivery of our service and harm our business; the market for music rights is changing and is subject to significant uncertainties; our Pandora services depend upon maintaining complex licenses with copyright owners, and these licenses contain onerous terms; the rates we must pay for "mechanical rights" to use musical works on our Pandora service have increased substantially and these new rates may adversely affect our business; our use of pre-1972 sound recordings on our Pandora service could result in additional costs; failure to protect our intellectual property or actions by third parties to enforce their intellectual property rights could substantially harm our business and operating results; some of our services and technologies may use "open source" software, which may restrict how we use or distribute our services or require that we release the source code subject to those licenses; rapid technological and industry changes and new entrants could adversely impact our services; we have a significant amount of indebtedness, and our debt contains certain covenants that restrict our operations; we are a "controlled company" within the meaning of the NASDAQ listing rules and, as a result, qualify for, and rely on, exemptions from certain corporate governance requirements; while we currently pay a quarterly cash dividend to holders of our common stock, we may change our dividend policy at any time; and our principal stockholder has significant influence, including over actions requiring stockholder approval, and its interests may differ from the interests of other holders of our common stock; if we are unable to attract and retain qualified personnel, our business could be harmed; our facilities could be damaged by natural catastrophes or terrorist activities; the unfavorable outcome of pending or future litigation could have an adverse impact on our operations and financial condition; we may be exposed to liabilities that other entertainment service providers would not customarily be subject to; and our business and prospects depend on the strength of our brands. 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, 2020, 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.

Source: SiriusXM

Investor Relations Contact:
Jason Gursky
Maxar VP, Investor Relations and Corporate Treasurer
1-303-684-2207
jason.gursky@maxar.com

Hooper Stevens
SiriusXM
212-901-6718
hooper.stevens@siriusxm.com

Media Contact:
Kristin Carringer
Maxar Media Relations
1-303-684-4352
kristin.carringer@maxar.com

Patrick Reilly
SiriusXM
Patrick.Reilly@siriusxm.com

Kevin Bruns
SiriusXM
Kevin.Bruns@siriusxm.com

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SOURCE Sirius XM Holdings Inc.

FAQ

What is the SXM-8 satellite and its purpose for SiriusXM?

The SXM-8 satellite is designed to enhance SiriusXM's audio programming and provide reliable entertainment services to consumers in the U.S., Canada, and the Caribbean.

When was the SXM-8 satellite launched?

The SXM-8 satellite was launched on June 6, 2021, aboard a SpaceX Falcon 9 rocket.

How long is the SXM-8 satellite expected to operate?

The SXM-8 satellite is designed to provide service for over 15 years, extending SiriusXM's satellite fleet capabilities through at least 2036.

What are the benefits of the SXM-8 satellite for SiriusXM subscribers?

The SXM-8 satellite will improve audio entertainment delivery and expand SiriusXM's coverage area, ensuring reliable access to services for millions of subscribers.

What is the significance of the successful in-orbit testing of SXM-8?

The successful in-orbit testing signifies the satellite's readiness for service, indicating that it can effectively deliver SiriusXM’s audio entertainment to subscribers.