This excerpt taken from the SIRI 8-K filed Nov 1, 2005.
SIRIUS continues to add innovative programming. In August, SIRIUS launched its second season of NFL play-by-play coverage as The Official Satellite Radio Partner of the NFL. On September 29, 2005, SIRIUS launched a new programming lineup, including the addition of five compelling new music channels, and channels for Martha Stewart Living Radio and Howard Stern. Preparations are well underway for Howard
Sterns arrival at SIRIUS in January 2006. In its continuing effort to expand programming for women, SIRIUS announced that it will launch a full time channel with Cosmopolitan, the best-selling young women's magazine in the world, early next year. Demonstrating the flexibility derived from its significant bandwidth, SIRIUS dedicates entire 24-hour, commercial-free music channels to some of the worlds greatest artists. In addition to Radio Elvis, its all-Elvis Presley radio channel broadcast live from Graceland in Memphis, SIRIUS launched Rolling Stones Radio and recently announced E Street Radio, the worlds first 24-hour channel featuring the music of Bruce Springsteen and the E Street Band.
Offering of $500 million of 95/8% Senior Notes and Redemption of 15% and
During the third quarter of 2005, SIRIUS completed an offering of $500 million in aggregate principal amount of 95/8% Senior Notes due 2013. SIRIUS used approximately $63.1 million of the proceeds of this offering to redeem all of its outstanding 15% Senior Secured Discount Notes due 2007 and 141/2% Senior Secured Notes due 2009, and will use the balance of the net proceeds for general corporate purposes.