Sirius XM Holdings Inc. (NASDAQ:SIRI) And Formula 1 Finalize Multi-Year Broadcasting Deal

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Sirius XM Holdings Inc. (NASDAQ:SIRI) and Formula 1 have finalized a multi-year deal that makes company the North American radio broadcaster of all F1® races, beginning with United States Grand Prix this weekend.

The details

SiriusXM’s coverage of the 2017 F1® U.S. Grand Prix in Austin, TX will be showcased on October 22, exclusively on Sirius channel 132, channel 963 and XM channel 203 on the SiriusXM app. The channels will even carry qualifying on October 21. Listeners will catch the BBC 5 Live radio program for each race. The four remaining races will air on Sirius XM, including the season-finale 2017 F1®Etihad Abu Dhabi Grand Prix in November. Beginning with the 2018 F1® season and beyond Sirius XM will telecast every Grand Prix race on the schedule.

Scott Greenstein, the Chief Content Officer and President of Sirius XM, expressed that Formula 1 races are world-class events, which demonstrate the most advanced automotive know-how in the hands of outstanding drivers competing on very exciting circuits. They are extremely thrilled to offer the excitement of these races to Sirius XM audience across the nation. As F1® makes its way around the world, the company will bring its aficionados in North America to each global venue and allow them to follow the action live.

Sean Bratches, the MD of Commercial Operations at Formula 1, expressed that they are thrilled to have Formula 1 back on Sirius XM. Their ability to provide live coverage of all races during the Championship to their numerous listeners and fans offers remarkable additional exposure for F1® in the North American industry.

In the last trading session, the stock price of Sirius XM declined 0.17% to close the day at $5.7. The decline came at a share volume of 8.77 million compared to share volume of 15.34 million. After the recent decline, the market cap of firm was noted at around $26 billion.

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