October 06, 1999
Mayor Williams Announces "A Major Coup" in Economic Development XM Satellite Radio, Inc. moves to DC
(Washington, D.C.) In a major coup for the city's economic development efforts, Mayor Anthony A. Williams today announced that XM Satellite Radio has selected Northeast Washington as its new home. With the move, the innovative nationwide provider of digital-quality audio entertainment and information brings over 300 new jobs to the District of Columbia. Headquartered at 1500 Eckington Place, Northeast, XM Radio joins Qwest Communications in anchoring this revitalized high-tech district.
From its powerful satellites, XM Radio will transmit up to 100 channels of music, news, talk, sports and children's programming from coast to coast. The service will be transmitted directly to vehicles, homes and portable radios. XM Satellite Radio expects to commence commercial operations in the first half of 2001.
"Radio needs to be a dynamic, energetic enterprise," said Hugh Panero, President and CEO of XM Radio. "We're convinced that a location on New York Avenue in the District will give our business the energy and vitality we will thrive on. The Mayor and the city have been very welcoming. We're looking forward to a great partnership."
To complement its original programming, XM has signed programming agreements, representing at lest 24 channels, with such leading brand-name developers as USA Today, Black Entertainment Television, Radio One, Hispanic Broadcasting Corporation, Bloomberg News Radio, C-SPAN Radio, CNN Financial Network and many others.
"We are delighted that XM Radio has recognized the potential of the District, and will be our newest permanent resident. When you consider that Americans listen to radio approximately 3 hours each day, XM Radio will soon be a big contributor to our economy. This is a major coup for our economic development efforts, and a shot in the arm for Northeast," said Mayor Williams. "It shows that we have the ability to attract and retain high tech businesses."
