Memorandum of Understanding Facilitates Technology Transfer for
Assembly, Installation and Infrastructure Deployment
SILVER
SPRING, Md., Nov. 11 -- WorldSpace
Satellite Radio, (Nasdaq: WRSP), one of the world leaders in
satellite-based digital radio services, today announced that its
wholly-owned subsidiary, WorldSpace India Pvt. Ltd., has signed
a Memorandum of Understanding with Webel Mediatronics Ltd to explore
technology transfer for the assembly, installation and commissioning
of a broadcast infrastructure, including gap fillers, that work in
conjunction with the WorldSpace Satellite Radio offering.
The companies will explore development and deployment in India and
other target WorldSpace markets.
WorldSpace chose to collaborate with Webel
based on the company’s 25-year history of technology innovation.
Webel, which pioneered the manufacture of studio equipment such as
audio mixing consoles, broadcast-grade CD players and community radio
systems in India, has supplied products to Doordarshan Kendras,
India’s national broadcaster, and All India Radio Stations across
the country.
“We are committed to extending the WorldSpace
experience across India and throughout the world,” said Noah Samara,
chairman and CEO, WorldSpace. “We view our new arrangement with Webel
as an investment that will position the company to continue growing our
global subscriber base and potentially accelerate our business roll out.”
What clearly distinguishes WorldSpace Satellite
Radio from any other offerings in India and across its target areas is
its wide variety of audio content. With more than 40 radio stations that
span musical genres, news, sports and information, WorldSpace offers
unsurpassed choice and digital-sound quality to its subscribers.
Sri Manabendra Mukherjee, IT Minister of West
Bengal said, “Webel has emerged as one of the most progressive entities
in the country today and they have proved it yet again. Not only will
this [WorldSpace /Webel] cooperation bring in the latest technology to
India but also our people can develop it further for the benefit of masses.
This MOU, when acted upon, can generate significant valuable foreign exchange
for the country.”
About WorldSpace, Inc.
WorldSpace (Nasdaq: WRSP)
is the world's only global media and entertainment
company positioned to offer a satellite radio
experience to consumers in more than 130 countries
with five billion people, driving 300 million
cars. WorldSpace delivers the latest tunes,
trends and information from around the world
and around the corner. WorldSpace subscribers
benefit from a unique combination of local
programming, original WorldSpace content and
content from leading brands around the globe
including the BBC, CNN, Virgin Radio, NDTV
and RFI. WorldSpace's satellites cover two-thirds
of the globe with six beams. Each beam is capable
of delivering up to 80 channels of high quality
digital audio and multimedia programming directly
to WorldSpace Satellite Radios anytime and
virtually anywhere in its coverage area. WorldSpace
is a pioneer of satellite-based digital radio
services (DARS) and was instrumental in the
development of the technology infrastructure
used today by XM Satellite Radio.
“We are committed to extending the WorldSpace
experience across India and throughout the world,” said Noah Samara,
chairman and CEO, WorldSpace. “We view our new arrangement with Webel
as an investment that will position the company to continue growing our
global subscriber base and potentially accelerate our business roll out.”
Forward-looking Statements
This press release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on management's current expectations or beliefs about
future events and financial, political and social trends and assumptions it has
made based on information currently available to it. The Company cannot assure
that any expectations, forecasts or assumptions made by management in preparing
these forward-looking statements will prove accurate, or that any projections will
be realized. Such forward-looking statements may be affected by inaccurate assumptions
or by known or unknown risks or uncertainties. Actual results may vary materially from
those expressed or implied by the statements herein. Forward-looking statements contained
herein speak only as of the date of this release. The Company does not undertake any
obligation to update or revise publicly any forward-looking statements, whether to
reflect new information, future events or otherwise.
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