XM Radio Closes $235 Million Financing Deal

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WASHINGTON -- XM Satellite Radio Inc. closed its $235 million financing deal announced in July, completing its funding through commercial launch of its nationwide satellite radio service.

As part of the transaction, American Honda Motor Co. Inc. has joined General Motors, DirecTV Enterprises Inc., Clear Channel Communications and Motient Corporation as a key strategic investor in XM. The investor group, led by AEA Investors Inc., also includes Madison Dearborn Partners, Baron Asset Funds and Columbia Capital, LLC, which will purchase newly issued preferred stock in the company.

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