XM Satellite Radio
1500 Eckington Place, N.E.
Washington, DC 20002
CEO: Hugh Panero
Stock Symbol: XMSR
XM is the largest satellite radio service
in the nation offering 170 digital channels, including original
music and talk channels featuring news, sports, and entertainment.
Customers need to purchase a separate radio
in order to receive satellite programming. XM charges $12.95
per month with discounts on prepaid plans for up to five years.
XM has a deal with Major League Baseball
to broadcast all games for 11 years. XM is also known for controversial
radio hosts Opie and Anthony.
XM has partnerships with major automotive
companies to install receivers in their vehicles. Brands available
include Acura, Audi, Buick, Cadillac, Chevrolet, GMC, Honda,
Infiniti, Isuzu, Nissan, Oldsmobile, Pontiac, Saturn, Scion,
Sirius Satellite Radio announced in February
a deal to merge with XM in an all-stock deal. However, the merger
is undergoing regulatory approval and could be blocked by the
FCC and antitrust agencies.
The company says it has more than 8 million
subscribers and has added 1.5 million members over the past year.
In 2006, XM reported revenues of $933.1
million and a net loss of $731.6 million. The company has never
been profitable but continues to grow members and revenue.
XM was originally founded in 1992 as American
Mobile Radio Corporation. It was the first satellite radio service
and launched nationwide on November 12, 2001.
XM offers competitive compensation and
a benefits package that includes health, dental, vision, long-term
disability, short-term disability, and life insurances.
The company also offers:
401(k) Savings Plan
Employees can contribute up to
15% of salary on a pre-tax basis. XM matches 50% of employee's
contributions up to 6% of salary. The match is 100% vested immediately
Employee Stock Purchase Plan (ESPP)
XM Employees can purchase XM stock
at 85% of the fair market value. Deductions are in a flat dollar
amount or percentage of compensation per pay period with maximum
calculation of $21,250 annually.
Dependent Care Flexible Spending Account
Allows you to lower your taxable
income by reimbursing eligible day care and elder care expenses
on a pre-tax basis-up to $5,000 per year.
Health Care Flexible Spending Account
Lowers your taxable income by reimbursing
eligible out-of-pocket medical, dental, and vision care expenses
on a pre-tax basis-up to $3,000 per year.
All XM Employees are eligible for
three weeks of vacation on an accrual basis.
XM observes eleven paid holidays
per calendar year.
Employee Assistance Plan
XM provides free, confidential
and professional assistance to help employees and their families
with problem resolution.
Legal Consultation & Referrals
The EAP also provides legal consultation
and referral services with an experienced attorney.
Employees enjoy an on-site state-of-the-art
fitness facility located on the ground floor at our headquarters
in Washington, DC.
XM Employees based in the Washington,
DC office enjoy partially subsidized meals at our in-house café.
Shuttle Service to Public Transport
XM provides a shuttle service that
runs daily to and from the nearest metro station.
XM's Washington, DC office also
provides free parking for employees.
Updated May 19, 2007