Panasonic jumps on XM Radio wagon

WASHINGTON -- XM Satellite Radio signed an agreement with Matsushita Communication Industrial Corp. of U.S.A., known in the United States as Panasonic

Panasonic will design, develop, produce and market XM-capable radios for factory installation in new cars and trucks, said Dan Murphy, XM's vice president for retail marketing and distribution.

"We're delighted that Panasonic, a market leader in consumer electronics, will manufacture XM satellite radios," he said. "Panasonic's reputation for quality products, combined with its distribution strength, make it an important addition to XM's growing list of leading radio manufacturers."

XM plans to create and package up to 100 channels of digital-quality sound and provide coast-to-coast coverage of music, news, sports, talk, comedy and children's programming.

XM won several awards at the International Consumer Electronics Show this month, including "Best of CES" in the automotive category.

XM's investors include General Motors, American Honda Motor Co. Inc., Clear Channel Communications, DirecTV and Motient Corp., which holds a controlling interest in the company.

The company has a long-term distribution agreement with General Motors to integrate XM-ready radios into its vehicles commencing this year.

XM-ready radios will be manufactured by such household names as Sony, Alpine and Pioneer Electronics Corporation, Clarion, Blaupunkt and Delphi-Delco, in addition to Panasonic, and sold by automotive and retail outlets such as Best Buy, Circuit City and Sears.

XM's first satellite is scheduled to launch Feb. 28. Broadcast service will begin this summer.