Washington – XM Satellite Radio Holdings Inc. on Tuesday said it bought Effanel Music Inc., a privately held company that produces on-location recordings, to improve its live broadcast offerings.
Financial terms were not disclosed.
The satellite radio company said Effanel will work as its mobile recording and broadcast division, which will enable XM to broadcast live music, sports and entertainment events from around the world in digital sound.
Shares of XM rose 4 cents to $35.71 in morning trading on the Nasdaq.