Monday, August 21, 2006

Polk Audio Is Shipping XM, And Directed Electronics, A Sirius Supplier, Is Buying Polk Audio

Two Polk press releases today:

Polk Ships Combined HD Radio/XM Satellite System
August 21, 2006, I-Sonic

Polk Audio today announced the first shipments of the I-Sonic entertainment system, the first product to include an HD Radio tuner, a DVD/CD player and XM Satellite Radio receiver in a single unit. The system sells for $599 in the U.S. and $719 in Canada.
The I-Sonic is a small unit -- measuring only 14.5" x 9.75" x 4.75" -- for use anywhere in the home or office. The single disc DVD/CD player also plays MP3s, as well as many other formats, and the unit has two sets of auxiliary inputs to allow the hook up of any stereo audio device. The I-Sonic also features a headphone jack, 30 radio presets and a wireless remote control. While the first I-Sonic orders went to broadcasters for monitoring and promotional use, the first retail units have shipped to Tweeter Home Entertainment stores. Supplies are expected to be tight for the next 60 days. read more: HERE

Directed Electronics to buy Polk Audio for about $136 mln
Mon Aug 21, 2006 4:33pm ETAug 21 (Reuters) -

Directed Electronics Inc. on Monday said it agreed to acquire Polk Audio, a provider of home and mobile audio equipment, for about $136 million in cash.
The acquisition will add to its pro forma net earnings in 2006 and beyond, the auto accessories maker said in a statement.
The current management of Polk Audio will join Directed Electronics after the acquisition, which is scheduled to close during the third quarter...read more: HERE

8/21/2006 05:30:00 PM

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