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SIRIUS TO PROVIDE REAL-TIME TRAFFIC DATA TO VEHICLES Satellite Radio Broadcaster Signs with NAVTEQ to Offer Customers Most Up-to-Date Traffic Information
NEW YORK - December 14, 2004 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it will provide real-time traffic data to vehicles over its nationwide satellite radio network. The company has signed an agreement with NAVTEQ (NYSE: NVT), the premier provider of mapping and traffic data reporting services, to offer consumers reliable traffic information in their vehicles.
The new service will provide consumers with regularly updated traffic information, such as accidents, scheduled road closings, traffic flow data or other traffic-related incidents to help them select the best available route. Traffic information will be integrated into new in-car navigation systems combining route guidance and mapping with traffic. Initially, the service will cover 30 markets and is expected to expand to over 50 markets.
"This new data service will complement SIRIUS' First Traffic audio service by providing a visual representation of current traffic conditions specific to each link of roadway. Over time, additional features will be added to help determine estimated drive times on a given route, based on historical traffic patterns," said Jim Meyer, President of Operations and Sales for SIRIUS. "Combined with an in-car navigational system, consumers will be able to accurately determine the most direct routes through the mapping function, while being continuously informed about potential delays or incidents that could disrupt their travel plans."
According to company officials, SIRIUS automotive and retail partners have shown a high level of interest in the new service, and plan to offer it as a product upgrade for their upcoming navigational systems. The service is also expected to provide an additional revenue stream for SIRIUS, which the company believes will have a positive effect on its average revenue per user (ARPU) when implemented.
"This agreement with NAVTEQ is an excellent example of the types of data services SIRIUS plans to offer to provide even more benefits to our subscribers," added Meyer. "Along with our commercial-free music, plus news, sports and talk shows, you have an unbeatable combination of entertainment and services for drivers across the country."
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices and Internet-based mapping applications. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,500 employees located in over 100 offices in 20 countries.
NAVTEQ is a trademark in the U.S. and other countries. (C) 2004 NAVTEQ. All rights reserved.
R U M O R V I L L E
The Rumors you may or may
not want to know about ...
* Look for a big day 6/30/05 - We hear sirius
will take off to $8.00
* Howard Stern is to announce something regarding Sirius in about two weeks
*
Sony + Sirius Deal? Is it in the works? Seems like a logical move, as Apple didn't want to get involved. Then again we are in Rumorville!
* Stock is rumored to fall until Stern Signs on early
* Howard Stern to quit early? Will he say F*** You to broadcast radio, and make the jump soon to Sirius?
Rumor has it, it may be next month.
*What is up with Sirius & XM lately? The two companies have seemed to merge together in the media. Is a possibly buyout in store? Will Viacom, and
Sumner Redstone
buy both companies?
All statements contained are not verified for their accuracy. The statements may or may not be true and therefore are not to be relied on.
For entertainment purposes only.
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