(TWICE via NewsEdge) Interoperable Technologies, a joint venture founded by Sirius and XM in November 2003, said it had "successfully completed the design" of a satellite-radio tuner with a single antenna to receive broadcasts from both satellite-radio companies.
The company, however, still "has no plans to commercialize that product this year."
When the FCC handed out licenses to XM and Sirius, it mandated the companies develop an interoperable radio that would boost competition by enabling consumers to receive broadcasts from their choice of providers without buying a new tuner.
The two companies have spent $2.5 million to date on the project.
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