Tuesday, July 12, 2005

XM Satellite to Acquire WCS Wireless for 2.3 GHz Spectrum Nationwide

XM Satellite Radio agreed to acquire privately-held WCS Wireless for nearly $200 million in stock.

WCS Wireless are wireless spectrum licenses in geographic areas covering 163 million people throughout the United States, including 15 of the top 20 metropolitan markets. On average, WCS Wireless licenses include 10 megahertz in the frequency bands adjacent to XM's satellite radio service. XM and WCS Wireless expect to close the transaction before the end of the year, subject to necessary government approvals.

XM Satellite said the acquisition would enable it to expand its existing business with a variety of multimedia subscription services, including innovative video and data offerings, transmitted over these new frequencies. http://www.xmradio.com/

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