Sirius Extends Ford Deal
By Amy Gilroy -- TWICE, 6/6/2005
New York — Sirius Satellite Radio and the Ford Motor Company today announced an agreement to extend Sirius’ exclusive OEM deal with Ford through September 2011.
Previously, Sirius had an OEM agreement with Ford through 2008 with an option to extend to 2013, a spokesman said.
Earlier this year, Ford and Lincoln Mercury announced plans to target up to 21 vehicle lines for factory installation of Sirius over the 2006 and 2007 model years, and said they expect to generate up to 1 million Sirius subscribers over the two-year period. In total, nearly 90 percent of Ford and Lincoln Mercury vehicles will offer Sirius as a factory installed option for the 2008 model year.
Ford still retains the option to extend the OEM agreement with Sirius through September 2013.
Sirius noted in a prepared statement that “the agreement also contains customary terms and conditions, including termination rights.Beginning in January 2009, Ford may elect to become nonexclusive under the agreement, in which case Ford would forfeit all future economic benefits, which could be significant.”
Ford brands include Ford, Lincoln Mercury, Land Rover, Jaguar, Volvo, Aston Martin and Mazda. Land Rover said recently it will offer Sirius as a factory option on select lines beginning with the 2006 model year. Volvo, Jaguar and Mazda currently offer Sirius as a dealer-installed option, with future plans to switch to a factory-installed and/or port-installed option.
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