WASHINGTON, Jan 28 (Reuters) - XM Satellite Radio Inc. on Tuesday said it closed a deal to get $475 million in financing from automaker General Motors Corp. and other investors. The subscription radio service said the financing consists of $225 million in new funds from investors and $250 million in payment deferrals and related credit facilities from General Motors. XM Satellite, based in Washington, D.C., said the financing will help the company reach cashflow breakeven in 2004.
Premium Content (PAID Subscription Required)
"XM Satellite Radio closes $475 mln financing" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.