COLUMBIA, Md. -- USA Digital Radio has secured $41 million in additional equity financing from a group that includes radio broadcasters and investment, technology and media companies.
The company is developing an in-band on-channel digital audio broadcast technology called iDAB that uses the current radio spectrum to transmit existing AM and FM analog simultaneously with new high-quality digital signals.
The iDAB technology is designed to give consumers superior sound quality and crystal-clear reception while listening to AM and FM stations, and to display new data services on a radio screen, such as song and artist identification, local traffic, weather and news. The system currently has eight stations across the country operating under experimental licenses.
"These new investors bring additional strength to the broad coalition of broadcasters, technology developers and transmitter equipment, semiconductor and receiver manufacturers that we have assembled to further the implementation of iDAB," said USA Digital Radio president/CEO Robert J. Struble.