News Headline
XM Satellite Radio invests $25 mn in WorldSpace
MUMBAI: American satellite radio firm XM Satellite Radio has announced that it has made a strategic investment of $25 million in the common stock of WorldSpace.
Worldspace provides satellite radio in Asia, Europe, the Middle East and Africa.
In connection with the investment, XM will cooperate with WorldSpace to develop satellite radio products, technology and distribution and supplier networks. In addition, XM will have warrants to acquire $37.5 million in additional WorldSpace stock and an option to invest along with WorldSpace and other partners in various countries around the world.
XM Satellite Radio chairman Gary Parsons says, “We look forward to becoming a strategic investor in WorldSpace’s worldwide satellite radio system and advancing satellite radio technology and reach through our cooperative efforts”.
This deal; comes at a time when media research firm Kagan Research has forecast that consumer interest in satellite radio in America is reaching for the sky. In a new report, the company says that low churn, new programming and exclusive vehicle agreements will boost subscriptions for competitors XM and Sirius to 46.8 million, with revenues of $7.6 billion, by 2014.
In the short term, Kagan however has predicted that the two players will face increased competitive pressure from emerging technologies. As wireless technology expands and access to free music Web sites and on-demand services increases, satellite radio will lose potential customers to alternative sources in the battle for consumers’ attention. The researcher also believes that the US satellite radio industry will generate $27.9 million in ad revenue this year. This figure is expected to reach $854.4 million by 2014.
Kagan also studied the companies’ business models and how soon expensive content agreements will break even with cash flow. It estimates that XM Satellite Radio will achieve positive cash flow by the third quarter of 2007.
Through its subscription-based service, WorldSpace broadcasts news, music brand name content and educational programming to a global service area and targets its programming to consumers, governments, and other organizations. The company utilises its two geo-stationary satellites Afristar and Asiastar, and its ownership of spectrum licenses to deliver more than 100 digital quality audio channels per satellite as well as multimedia content directly to WorldSpace Satellite Radio receivers.
XM claims to be America’s number one satellite radio service with more than 4.4 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City and Nashville at the Country Music Hall of Fame, XM’s 2005 lineup includes more than 150 digital channels of choice from coast to coast. They are commercial-free music channels, premier sports, talk, comedy, children’s and entertainment programming; and advanced traffic and weather information.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
