NEW YORK, April 30, 2013 /PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) today announced that James E. Meyer has been appointed Chief Executive Officer, effective immediately. Mr. Meyer has served as the interim CEO since December.
"After a thorough search of excellent candidates, we are delighted to name Jim as the CEO of SiriusXM, where he will continue to lead a very strong executive team. Jim is a highly qualified leader and operator, and we look forward to working with him to build on SiriusXM's position as the innovator in audio entertainment," said Gregory B. Maffei, Chairman of SiriusXM. "He has been a vital part of SiriusXM for close to a decade, and his extensive knowledge of SiriusXM's business and significant industry experience will be invaluable assets in the highly competitive market within which SiriusXM is thriving. Jim's leadership, strategic vision and operating focus are exactly what SiriusXM needs today and in the future."
"I look forward to leading SiriusXM," said Mr. Meyer. "SiriusXM is a great service with world-class programming that comes from teams of focused and motivated employees. I am honored to be working with our talented management team as we continue to deliver the best content and services to our subscribers nationwide and enhance value for our stockholders."
Mr. Meyer served as SiriusXM's President of Sales and Operations from May 2004 until his appointment as our interim CEO in December. Prior to joining SiriusXM, Mr. Meyer was President of Aegis Ventures, a general management consulting company, and provided consultant support for SiriusXM. Before Aegis, he held a number of senior management positions in consumer electronics, including the Senior Executive Vice President of Digital Media Solutions for Thomson, a worldwide leader in consumer electronics.
About Sirius XM Radio Sirius XM Radio Inc. is the world's largest radio broadcaster measured by revenue and has over 24 million subscribers. SiriusXM creates and broadcasts commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment; and the most comprehensive Latin music, sports and talk programming in radio. SiriusXM is available in vehicles from every major car company in the U.S., from retailers nationwide, and online at siriusxm.com. SiriusXM programming is also available through the SiriusXM Internet Radio App for Android, Apple, and BlackBerry smartphones and other connected devices. SiriusXM also holds a minority interest in SiriusXM Canada which has more than 2 million subscribers.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our competitive position versus other forms of radio and audio services; our dependence upon automakers; general economic conditions; failure of our satellites, which, in most cases, are not insured; our ability to attract and retain subscribers at a profitable level; royalties we pay for music rights: our ability to attract and retain qualified executive officers; the unfavorable outcome of pending or future litigation; rapid technological and industry change; failure of third parties to perform; changes in consumer protection laws and their enforcement; and our substantial indebtedness. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2012, which is filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
Contact for SiriusXM:
Investors: Hooper Stevens 212 901 6718 firstname.lastname@example.org
Media: Patrick Reilly 212 901 6646 email@example.com
SOURCE Sirius XM Radio