SIRIUS Signs Space Systems/Loral to Augment Satellite Constellation

SIRIUS Satellite Radio reached an agreement with Space Systems/Loral, a subsidiary of Loral Space & Communications for the design and construction of a new satellite.

SIRIUS FM-5 is expected to be completed in the fourth quarter of 2008 and will carry an X-band uplink and S-band downlink payload. The companies said the satellite will be one of the most powerful ever constructed, with end-of-life power capability at more than 20 kilowatts. SIRIUS FM-5 is based on SS/L's flight proven 1300 platform and will have a specified service life of 15 years. It will carry a range of technologies, including a 9-meter unfurlable reflector, which will allow for highly-concentrated transmissions to small, advanced devices.

SIRIUS plans to launch the satellite on a Proton rocket under a contract previously announced between SIRIUS and International Launch Services (ILS).

The aggregate cost of designing, building, launching and insuring the launch of the satellite will be approximately $260 million. As part of its commitment to SIRIUS, Loral has agreed to provide a $100 million vendor financing facility.