In another sign XM Satellite Radio is broadening its program distribution channels beyond radio, XM plans to acquire the privately-owned WCS Wireless for 5.5 million shares of its stock.
The principal assets of WCS Wireless are wireless spectrum licenses in areas covering 163 million people throughout the United States, including 15 of the top 20 metropolitan markets. WCS Wireless licenses include “10 megahertz in the frequency bands adjacent to XM’s satellite radio service,” according to both firms.
The deal needs regulatory approval, and the companies hope to close the acquisition by the end of the year.
Although XM plans to publicly reveal more detailed plans later, it said the acquisition provides the satcaster an opportunity to expand its business with a variety of multimedia subscription offerings, including video and data, transmitted over the new frequencies. RW Online has previously reported on XM’s video plans.
XM Satellite Radio to Acquire WCS Wireless
XM Satellite Radio to Acquire WCS Wireless
