XM Satellite Signs $100 Million NHL Deal

NEW YORK – XM Satellite Radio Holdings Inc. Monday announced an exclusive, $100 million contract to broadcast National Hockey League games.

XM, the largest satellite radio provider, with over 4.4 million listeners, will start broadcasting the games next month. Starting in 2007, XM will become the league’s exclusive satellite radio provider, snatching the games away from rival Sirius Satellite Radio Inc., which signed a contract with the league almost two years ago.

XM’s hockey announcement comes days after the company gained final approval from Canada’s Federal Cabinet to start broadcasting north of the border.

“Our next goal is to be number one in Canada … and we can’t think of a better content provider to join us than the NHL,” Chief Executive Hugh Panero said on a conference call with the media.

XM will broadcast over 1,000 hockey games each season from a dedicated NHL channel. The channel, which will be dedicated to the sport year-round, will also feature hockey-focused talk and interviews. Panero said XM’s sports coverage will alternate between emphasis on baseball in the summer and hockey in the winter.

XM now also has a $650 million contract with Major League Baseball and a deal with NASCAR until 2007. Sirius made waves when it signed an exclusive, $500 million deal to broadcast shockjock Howard Stern for five years.

XM Satellite shares rose 12 cents to close at $36.12 on the Nasdaq Stock Market. Shares of Sirius fell 4 cents to end at $7.35.