| Releases for Year 2005 |
| 02-07-05
| CONTINENTAL ELECTRONICS LICENSES HD RADIO TECHNOLOGY FROM IBIQUITY |
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| Columbia, Maryland - February 7, 2005 -- iBiquity Digital Corporation, the sole developer of digital HD Radio™ technology, announced today that it has licensed Continental Electronics Corporation to develop, manufacture and market HD Radio exciters for AM and FM broadcasters who are converting to digital broadcasting.
In January 2005, 21 of the nation's top broadcast groups committed to upgrading 2,000 stations in the next few years, which will bringing the number of broadcasters committed to implementing HD Radio service 2,500, reaching 90% of the population. Approximately 250 U.S. stations are HD Radio broadcasters today and more than 700 are expected to be broadcasting by the end of 2005.
"The time is right for HD Radio broadcasting, and we have been waiting but certainly not idle. This will be evident at this year's NAB Convention." said John Uvodich, General Manager of Continental Electronics Corporation. "We have followed the development of HD Radio from the beginning with great interest and are enthusiastic about being an integral part of advancing the AM and FM digital revolution."
Jeffrey Jury, COO, iBiquity Digital Corporation, added, "We are very pleased that Continental Electronics has become a licensed partner and look forward to working with them in the broadcast market. This is another important step in enabling more stations to convert quickly to the HD Radio system."
About Continental Electronics Corporation Dallas, Texas-based Continental Electronics Corporation is the premier manufacturer of radio frequency (RF) broadcast transmission equipment. The company specializes in the design, development and manufacture of leading-edge digital and analog transmitter systems for the global market. Through its digital transmission products, radio broadcasters worldwide are able to create the innovative applications needed to compete in a new era of communications convergence.
About iBiquity Digital iBiquity Digital is the sole developer and licenser of HD Radio™ technology in the U.S., which is transforming today's AM and FM radio stations to digital, enabling radically upgraded sound, crystal-clear reception and new wireless data services. The company's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom; leading financial institutions, such as Grotech Capital Group, J.P. Morgan Partners, New Venture Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Texas Instruments and Visteon. iBiquity, named one of Deloitte's Fast 500 Companies, is a privately held with operations in Columbia, MD, Detroit, MI, Belmont, CA and Warren, NJ. For more information please visit: www.ibiquity.com .
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