Sirius Satellite Radio Inc. said it agreed to an exclusive marketing and promotional alliance with Interscope Geffen A&M Records and its chairman, Jimmy Iovine.
Financial terms of the deal weren’t disclosed.
The New York subscription-based satellite-radio broadcaster said Monday that Iovine will be a creative adviser and consultant in the development of Sirius programming.
Interscope will offer marketing and promotional opportunities with its artists, including U2, Eminem, No Doubt, Sheryl Crow, 50 Cent and Queens of the Stone Age.
Last year, Iovine helped broker a deal for Eminem to co-produce a hip-hop channel on Sirius called Shade 45.
The New York Times reported in its Monday editions that Interscope, which is part of Vivendi Universal’s Universal Music Group, is expected to explore the creation of satellite radio shows for other artists and the development of promotions for Sirius.
Sirius Chief Financial Officer David Frear said earlier this month that the company had a “blowout” holiday season and expects fourth-quarter results to show substantial improvement from the third quarter.
The company has seen solid subscriber growth in recent months following a series of high-profile announcements, including the signing of a programming deal with shock jock Howard Stern.
Sirius shares rose 18 cents, or 3.1 percent, to $6.01 in morning trading on the Nasdaq Stock Market.
