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22 Jan 2002, 11:43 AM EST Msg. 5330 of 5337

Hey, JivinJef-- does this article belong here or on the XM board?

Satellite Weekly - 1/22 (11:15am)

COULD SIRIUS MISS THE 2002 HOLIDAY SEASON?
Various industry sources are telling us that technical issues will make it very hard for Sirius to have large quantities of receiver's available for the 2002 holidays. Specifically, that Sirius' receiver manufacturing partners
still do not have the specs on a finalized production chipset, much less the actual chipsets to incorporate into their receivers. The initial radios that will begin being sold on February 14th will have an interim chipset that cannot be cost-effectively produced in large quantity. Sirius' management has been non-vocal on this matter, which is not surprising given the company's on-going litigation. However, we note that without a 2002 OEM rollout, chipset supply issues would likely cause Sirius to miss the aggressive subscriber growth covenants of its loan from Lehman Brothers, meaning that the proceeds from its recent secondary may be needed to repay that facility as opposed to funding business development.

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