XM Satellite Radio signs on a 10 year deal with National Hockey League
XM Satellite Radio from Sirius would now be covering the National Hockey League games on their radio channels from the 2007-08 season. The news was released by the XM, which has signed on a 10-year deal with the sports league in the United States. The deal is exclusive and cost the company a cool $100 million.
The deal means that XM would be broadcasting at least 1,000 NHL games each season. They are even planning to start a dedicated channel that will focus on various aspects of the sport for their listeners. The deal would bring some relief to the NHL as they are recovering from the lost 2004-05 season due to labor dispute. It really tarnished the reputation of the sport in the country.
The deal was signed in 2003 between Sirius Satellite Radio and the NHL. The announcement helped the company as their shares gained 10 cents at $36.10 Monday afternoon. The shares of Sirius were off 9 cents at $7.30.