XM, Toyota extend for 7 years
Shares of XM Satellite Radio rose 2.2% on Wednesday to $14.21 after executives announced a seven-year extension to an agreement with Toyota Motor Sales USA to have its radios installed in Toyota and Lexus models. The new deal extends an existing pact from 2010 to 2017. XM this week also extended its relationship with Honda America to 2016. XM has deals with carmakers that account for about 59% of total U.S. vehicle production, while Sirius has locked in pacts with the rest.