Chris
Senior HTF Member
- Joined
- Jul 4, 1997
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http://www.fool.com/News/mft/2006/mft06031026.htm
For those that don't know, Clear Channel, an investor in XM, fought XM in court for a violation of their origination deal. CC provided startup capital, etc. in exchange for set agreements in regards to programming.
Clear Channel sued XM, and has achieved victory in court.
As a result, XM will now have to allow Clear Channel to air advertising on the four programs it supplies: Sunny, Kiss, Mix and Nashville, and XM may not terminate thier agreement on these channels without penalities.
In the end, what this is really about is CC setting up XM so that XM can no longer proclaim "Commercial Free". Clear Channel would much prefer to remove that label where it can in order to minimize the differences between their terrestrial radio and satellite.
For those that don't know, Clear Channel, an investor in XM, fought XM in court for a violation of their origination deal. CC provided startup capital, etc. in exchange for set agreements in regards to programming.
Clear Channel sued XM, and has achieved victory in court.
As a result, XM will now have to allow Clear Channel to air advertising on the four programs it supplies: Sunny, Kiss, Mix and Nashville, and XM may not terminate thier agreement on these channels without penalities.
In the end, what this is really about is CC setting up XM so that XM can no longer proclaim "Commercial Free". Clear Channel would much prefer to remove that label where it can in order to minimize the differences between their terrestrial radio and satellite.