April 3, 1997 |
Two companies, bidding more than $173 million, won licenses to provide a new CD-quality radio service that can be heard anywhere in the country. The service, similar to cable TV, is likely to be offered on a pay-to-listen basis. It remains several years away, however. Washington-based CD Radio Inc. pledged $83.3 million for one license and American Mobile Radio Corp. of Reston, Va., put up $89.9 million for another in the Federal Communications Commission auction. CD Radio shares rose $5.
June 9, 1999 |
Six companies, including General Motors Corp., DirecTV Inc. and Clear Channel Communications, agreed to invest a total of $250 million in closely held XM Satellite Radio Inc., which plans to offer a new form of subscription radio service for initial use in cars.
January 25, 1999 |
USB Libra Investments, a firm created when a Minneapolis banking giant bought a Los Angeles investment boutique last year, recently raised $50 million from investors to provide $3 million to $7.5 million in funding to growing companies. Last year, U.S. Bancorp, one of the nation's larger banks, purchased Libra Investments Inc., one of Los Angeles' best-kept secrets in finance, for an undisclosed amount.
January 5, 1995 |
For the weary road warrior, it's an all-too-familiar experience: clicking from station to station on your car radio as you lose signals. But the day may be near when radio stations go where you go. Federal regulators are considering proposals for a new radio service that would be available nationwide, transmitted by satellite. The broadcast radio industry opposes the proposals, arguing they would drive local stations out of business.
September 16, 1999 |
How would you like to drive from L.A. to New York and listen to your favorite radio programs all the way across the country--without ever touching that dial? It won't be long before you'll be able to do just that. The prospect of scores of nationally available radio channels--the same revolution that was cable television--is about to come to your car's stereo. Both General Motors Corp. and Ford Motor Co.