Wall Street Journal: Sirius Has Reached Agreements With Most Major Music Companies

Sirius Unveils Portable Radio
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP, September 26, 2006 6:09 p.m.

Sirius Satellite Radio Inc. unveiled its first handheld device that lets subscribers listen to and record live satellite radio programming without connecting to a personal computer.
Sirius's Stiletto 100 lets users listen to and record live programming.
Sirius's new device, the Stiletto 100, will also allow users to flag songs for purchasing later by using music management software from Yahoo Inc. It will go on sale later this month for $350.
The Stiletto has two gigabytes of storage space that can hold up to 100 hours of Sirius content or MP3 music files from a user's personal collection. Sirius said it is compatible with most Windows-based online music stores and services. Songs that have been purchased online can be transferred to the device.
In order to receive live signals the Stiletto will need to have a clear line of sight to the satellite. It will also feature wireless Internet connectivity, or Wi-Fi, allowing users to listen to Sirius channels by streaming over the Internet at a Wi-Fi "hotspot."
Although New York-based Sirius currently sells a portable device, the S50 can only download Sirius radio streams when docked to a computer. The new Stiletto closes a gap with rival XM Satellite Radio Holdings Inc., which introduced a wireless device called the Inno that receives live programming earlier this year.
The Stiletto lets users save individual songs from live radio broadcasts by pressing a button on the device. A similar feature on the Inno rankled the recording industry, which filed a lawsuit earlier this year against XM challenging the legality of Inno's recording feature.
Sirius spokesman Patrick Reilly said the company had reached agreements with "most" of the major music companies that resolved their concerns over the Stiletto. He declined to identify the companies or to disclose the terms of the agreements.
Sirius, which added radio host Howard Stern to its lineup earlier this year, has been gaining on XM in the past few quarters. Sirius says it is on track to have 6.3 million subscribers by the end of 2006, while XM expects to end the year with between 7.7 million and 8.2 million customers. Both companies have been spending heavily to build up their subscriber bases and programming lineups and have yet to report profit...READ MORE: HERE

9/26/2006 10:30:00 PM

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