XMSR Analysis
Introduction
XM Satellite Radio was created on June 6th, 1992 as the American Mobile Radio Corporation. They got the approval from the FCC on March 10th, 1997 to proceed with building a radio communication system when they were granted a Satellite Digital Audio Radio Service License. 1998 was a big year for American Mobile Radio. Pioneer and Alpine started the creation of the first satellite radios; ST Microelectronics began the conception of satellite radio chipsets; and AMRC officially became the XM Satellite Radio Inc. In 1999, XM receives its first $250 million dollars from investor. In late 1999, XMSR had its IPO with 10 million shares of stock at $12 a share. XM became portable in 2000, when Sony started the creation of the home to car portable satellite radio systems. XM?s first satellite radio prototype is demonstrated in 2000, but the consumer products don?t get to the shelves until March, 2001. Consumer products are being sold even before ?Rock;? the first of XM?s satellites launched in March of 2001; and ?Roll;? XM?s second satellite launched in May of 2001. Satellite radio services didn?t officially start until September 25, 2001.
XM has been
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