Sirius XM Radio Inc (NASDAQ:SIRI) signed a new agreement to broadcast the programs of Fox News Channel and Fox Business Network for its 25 million subscribers until August 2019.
Sirius XM to broadcast on air and on internet radio
According to the satellite radio providers, both channels will also be included in the Sirius XM Internet Radio lineup as part of the agreement.
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Sirius XM Radio Inc (NASDAQ:SIRI) will continue to broadcast Fox News on Sirius XM channel 114 and online at siriusxm.com while Fox Business will be aired by the satellite radio provider for the first time this fall. The company will also broadcast Fox News Talk, which offers news, analysis and commentaries from Fox News broadcasters such as Brian Kilmeade, John Gibson and Alan Colmes etc.
In a statement, Jim Mayer, CEO of Sirius XM Radio Inc (NASDAQ:SIRI) said, “FOX News is an undeniable force in news, and its personalities attract a large audience nationwide. Keeping its distinctive voice in our powerful program offering, and adding those of FOX Business and FOX News Talk to our lineup of news channels, further expands their availability to a nation of listeners.”
FOX News CEO on the agreement
On the other hand, Roger Ailes, Chairman and CEO of FOX News said, “Our viewers love the ability to keep the connection with FOX News Channel, even while they’re in the car with Sirius XM.” He added that the agreement not only ensures that Fox News will continue, but also added Fox Business News and Fox News Talk channel, which can also be accessed by Sirius XM subscribers on their computers and smartphones.
“This is good for FOX News, for Sirius XM Radio Inc (NASDAQ:SIRI) and for the people we both work for, the American public,” added Ailes.
Twenty-First Century Fox Inc (NASDAQ:FOX) (NASDAQ:FOXA) owns Fox News Channel and Fox Business Network. The stock price of the company slightly increased at $32.03 per share, while Sirius XM Radio Inc (NASDAQ:SIRI) rose by 1.37% to $3.69 per share after trading hours on Wednesday.
Last month, the satellite radio provider launched a new program called Service Lane that provides a complimentary subscription to Sirius XM Radio Inc (NASDAQ:SIRI) for two months for qualifying customers with satellite radio equipped vehicles at participating auto dealerships. According to the company, the program is embraced by dealers to show their appreciation to customers and build loyalty.