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XM Acquires WCS Wireless
XM Satellite Radio acquired WCS Wireless and the company’s wireless spectrum licenses in the United States, XM announced July 13.
The new frequencies, which lie adjacent to XM’s satellite spectrum, will allow XM to add multimedia subscription services such as video and data offerings to its portfolio, the company said. The licenses cover geographic areas that include 163 million people, including 15 of the top 20 metropolitan markets in the United States.
XM will pay 5.5 million shares of XM common stock for WCS Wireless, and the acquisition should close before the end of 2005, XM officials said.
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