RIVERadio™ to Develop Low Priced HD Radio™ Receiver
LAS VEGAS, NV, International Consumer Electronics Show (CES) - January 5, 2005 — iBiquity Digital Corporation, the sole developer of digital HD Radio™ technology, announced today a licensing agreement with RIVERadio to develop and market a tabletop HD Radio receiver. The product, which is currently under development, is expected to reach consumers before summer 2005.
"After hearing the sound of AM and FM over the HD Radio system, and seeing the services made possible by digital technology, it doesn't take long to realize that this is the future of radio," commented Richard Skeie, CEO, RIVERadio. "We are excited to be creating a high quality, low cost, transportable HD Radio receiver that will make this technology even more affordable."
"With more than 2,500 stations committed to broadcasting in digital HD Radio, consumers will soon be hearing more about this remarkable technology, resulting in increased demand for HD Radio products," said Robert Struble, president and CEO, iBiquity Digital Corporation. "RIVERadio will help meet that demand and ensure consumers have another option to consider when purchasing an HD Radio receiver."
RIVERadio is dedicated to developing innovative, high quality, low priced receivers for the emerging HD Radio market. RIVERadio is led by a committed, well-qualified, highly motivated management team. RIVERadio is a privately held company with operations in South Dakota . For more information, please visit: www.RIVERadio.com.
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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