Editing XM Satellite Radio (section)

=== 1988–2000 ===
The American Mobile Satellite Corporation was founded in 1988.<ref>{{Cite news|url=https://www.nytimes.com/1988/07/26/business/business-people-president-of-skylink-is-closer-to-his-dream.html|title=BUSINESS PEOPLE; President of Skylink Is Closer to His Dream|last=Cuff|first=Daniel F.|date=July 26, 1988|work=The New York Times|access-date=October 3, 2019|language=en-US|issn=0362-4331}}</ref> In 1991, Lon Levin joined the company. In 1992, the American Mobile Satellite Corporation created a new division known as American Mobile Radio Corp. Later that year, American Mobile brought in [[WorldSpace]] as an investor.{{Citation needed|date=February 2020}}

On May 16, 1997, American Mobile Satellite and WorldSpace officially changed the name of American Mobile Radio to XM Satellite Radio. Later that month, Lon Levin became president, a position he would hold until 1998. In October 1997, XM Satellite Radio obtained one of only two [[satellite digital audio radio service]] licenses offered by the [[Federal Communications Commission]]. In 1998, [[Hugh Panero]] President and CEO, joined XM Satellite Radio in the same role.

In June 1999, [[Clear Channel Communications]], [[DirecTV]], [[General Motors Corporation|General Motors]], and a private investment group invested US$250 million in XM Satellite Radio [[Convertible bond|convertible debt]].<ref>{{Cite web|url=https://www.latimes.com/archives/la-xpm-1999-jun-09-fi-45601-story.html|title=Pay-Radio Firm Attracts $250 Million in Investments|date=June 9, 1999|website=Los Angeles Times|language=en-US|access-date=October 3, 2019}}</ref><ref>{{Cite news|url=https://www.washingtonpost.com/archive/business/1999/06/09/satellite-radio-firm-lands-deal-with-gm/f073469e-c9d4-495c-b511-4cadbe52f71b/|title=Satellite-Radio Firm Lands Deal With GM|last=Schwartz|first=John|date=June 9, 1999|newspaper=Washington Post|access-date=October 3, 2019|language=en-US|issn=0190-8286}}</ref> On June 7, with GM's investment in XM, they entered into a 12-year "Distribution Agreement" between XM and GM subsidiary, [[OnStar]] Corporation. The agreement called for exclusive installation of XM Satellite Radio into GM vehicles from November 12, 2001, until November 2013. OnStar had to meet specific escalating installation rates each year, while XM needed to make extensive payments to OnStar for the installation and sale of XM in their vehicles, while sharing revenue earned from these radios with OnStar, as well as payments on the exclusivity agreement.{{citation needed|date=December 2020}}

At the same time as the investment, American Mobile Satellite, still XM's parent company, reacquired the stake WorldSpace held in the company.<ref>{{Cite web|url=https://variety.com/1999/biz/news/radio-satcaster-xm-tunes-in-250-million-1117502887/|title=Radio satcaster XM tunes in $250 million|last1=Littleton|first1=Cynthia |date=June 9, 1999|website=Variety|language=en|access-date=October 3, 2019}}</ref> In October 1999, XM Satellite Radio issued 10,241,000 shares of Class A common stock at an [[Initial public offering|IPO]] price of US$12.00 per share. American Mobile Satellite remained the majority holder of the public company.{{citation needed|date=December 2020}}

In April 2000, American Mobile Satellite Corp. changed its name to Motient. In July, [[Honda|American Honda]] joined several private investors in a US$235 million [[preferred stock]] investment in the company.{{citation needed|date=December 2020}}