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4-Traders Homepage  >  Equities  >  Nasdaq  >  Sirius XM Radio Inc    

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Sirius XM Radio Inc : Sonic Automotive Customers to Get 3-Month SiriusXM Subscription on Pre-Owned Vehicles with Factory-Installed Satellite Radios

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05/03/2012 | 08:35pm CEST

NEW YORK, May 3, 2012/PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) and Sonic Automotive, Inc. (NYSE: SAH), one of the nation's largest automotive retailers, today announced that every one of Sonic Automotive's 108 dealers will automatically give their customers a 3-month SiriusXM subscription when they purchase a pre-owned vehicle, regardless of manufacturer, equipped with satellite radio.

"Sonic dealers are devoted to giving their customers an attractive selection of pre-owned vehicles," said Harold McLarty, Vice President of Pre-Owned Vehicles, Sonic Automotive.  "SiriusXM is installed in many of the pre-owned vehicles we sell.  So, delivering 3 months of SiriusXM's expansive programming is a value-added feature we are excited to provide our customers."

"Sonic Automotive is one of the largest pre-owned vehicle retailers in the country and we are thrilled to have all their locations participating in the SiriusXM pre-owned vehicle program," said Joe Verbrugge, Senior Vice President and General Manager, Automotive Remarketing and Retail Sales, SiriusXM.  "Including a 3-month SiriusXM subscription is a fantastic benefit to Sonic Automotive customers, allowing them to leave the lot with unparalleled entertainment delivered by SiriusXM and accessible at the touch of a button in their newly-acquired pre-owned vehicles."

Sonic Automotive customers purchasing pre-owned vehicles will have access to commercial-free music, and premier sports, news, talk, entertainment plus traffic and weather information broadcast by SiriusXM. 

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

About Sirius XM Radio

Sirius XM Radio is America's satellite radio company.  SiriusXM broadcasts more than 135 satellite radio channels of commercial-free music, and premier sports, , talk, entertainment, traffic, weather, and data services to more than 22 million subscribers. SiriusXM offers an array of content from many of the biggest names in entertainment, as well as from professional sports leagues, major colleges, and national news and talk providers.

SiriusXM programming is available on more than 800 devices, including pre-installed and after-market radios in cars, trucks, boats and aircraft, smartphones and mobile devices, and consumer electronics products for homes and offices. SiriusXM programming is also available at siriusxm.com, and on Apple, BlackBerry and Android -powered mobile devices.

SiriusXM has arrangements with every major automaker and its radio products are available for sale at shop.siriusxm.com as well as retail locations nationwide.

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is one of the nation's largest automotive retailers.  Sonic can be reached on the web at www.sonicautomotive.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 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.

O-SIRI

Contact for SiriusXM:

Sal Resendez
[email protected]
646 313 2405

SOURCE Sirius XM Radio

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Financials ($)
Sales 2017 5 347 M
EBIT 2017 1 681 M
Net income 2017 838 M
Debt 2017 4 921 M
Yield 2017 0,83%
P/E ratio 2017 27,08
P/E ratio 2018 21,44
EV / Sales 2017 5,24x
EV / Sales 2018 4,76x
Capitalization 23 092 M
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Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
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Number of Analysts 19
Average target price 5,21 $
Spread / Average Target 5,2%
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Managers
NameTitle
James E. Meyer Chief Executive Officer & Director
Scott Andrew Greenstein President & Chief Content Officer
Gregory B. Maffei Chairman
James Arthur Cady EVP-Operations, Products & Connected Vehicle
David J. Frear Chief Financial Officer & Senior Executive VP
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