EXHIBIT 99.5

            BLACKSTONE INVESTS $200 MILLION IN SIRIUS SATELLITE RADIO

NEW YORK, N.Y.--DECEMBER 27, 1999--Sirius Satellite Radio (Nasdaq: CDRD), the
satellite radio broadcaster, today announced that Blackstone Capital Partners
III will purchase $200 million of newly issued preferred stock in the company.
The junior convertible preferred stock has a 9.2% annual dividend and is
convertible into common stock at a price of $34 per common share. The
transaction, which is subject to customary closing conditions, is expected to
close by mid-January 2000. The proceeds will be used for the continued buildout
of Sirius Radio's broadcasting system and for general corporate purposes. To
date, Sirius has raised $1.2 billion in capital.

"Sirius Radio will provide a superior product offering to American consumers.
David Margolese is building a great company and we are delighted to support him
and his team" said Mark T. Gallogly, senior managing director of The Blackstone
Group.

"Blackstone has a preeminent reputation and a successful record in
telecommunications investments. We are delighted to have them as an investor in
Sirius, partnering with us to bring the first digital satellite radio service to
motorists throughout the United States" said Sirius chairman and chief executive
David Margolese.

Sirius recently announced a number of significant developments as it moves
towards commencement of service. The company has completed construction of its
National Broadcast Studio in New York City, one of the largest and most
sophisticated of its type in the world. Sirius has announced agreements with
critically acclaimed artists and on-air personalities, including Sting,
Grandmaster Flash, and MC Lyte, who will have regularly scheduled programs on
Sirius Radio.

Sirius Satellite Radio (http://www.siriusradio.com) is building a digital
satellite radio system that will broadcast an unprecedented breadth of unique,
compelling music and entertainment programming to motorists throughout the
continental United States. The company plans to offer 50 channels of
commercial-free music, all created at the company's National Broadcast Studio,
and up to 50 channels of news, sports and entertainment programming for a
monthly subscription fee of $9.95. Sirius has an exclusive agreement with Ford
Motor Company to install Sirius receivers in Ford vehicles. Sirius also has
agreements with a group of leading mobile electronics manufacturers including
Clarion, Panasonic, Alpine, Delphi Delco Electronics and Recoton to develop
Sirius receivers for automotive manufacturers and the automotive aftermarket.
Sirius has announced content agreements with some of the world's foremost
creators of compelling audio information and entertainment programming,
including National Public Radio, USA Networks/SCI FI Channel, Bloomberg and the
BBC. The company also has the exclusive right to carry the nationally acclaimed
"Car Talk" on satellite radio. Sirius operations are scheduled to commence at
the end of the fourth quarter of 2000. Sirius changed its name from CD Radio in
November. The company currently trades on Nasdaq under the ticker symbol CDRD,
but expects to change its symbol to SIRI in January 2000.

The Blackstone Group is a private investment bank based in New York City. It was
founded in 1985 by its chairman Peter G. Peterson, and its president and CEO,
Stephen A. Schwarzman. Blackstone is a leader in private equity investing, and
is currently in the process of investing its Blackstone Capital Partners III
fund, which represents approximately $4 billion of equity capital. The
Blackstone Group is also engaged in five other business areas including Mergers
and Acquisitions Advisory, Restructuring and Reorganization Advisory, Private
Equity Real Estate Investing, Private Mezzanine Investing, and Liquid
Alternative Asset Investing.



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Any statements that express, or involve discussions as to, expectations,
beliefs, plans, objectives, assumptions, future events or performance are not
historical facts and may be forward-looking and, accordingly, such statements
involve estimates, assumptions and uncertainties which could cause actual
results to differ materially from those expressed in the forward-looking
statements. Accordingly, any such statements are qualified in their entirety by
reference to the factors discussed in Sirius Satellite Radio Inc.'s Annual
Report on Form 10-K for the year ended December 31, 1998, filed under the
company's former name, CD Radio Inc. Among the key factors that have a direct
bearing on Sirius Satellite Radio's results of operations are the potential risk
of delay in implementing Sirius Satellite Radio's business plan; increased costs
of construction and launch of necessary satellites; dependence on satellite
construction and launch contractors; dependence on Lucent Technologies; risk of
launch failure; unproven market and unproven applications of existing
technology; unavailability of Sirius Satellite Radio receivers; and Sirius
Satellite Radio's need for additional financing.

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FOR MORE INFORMATION:

Jesse Stone 212-453-2340
Valerie Cashour 212-453-2239

Chinh E. Chu 212-583-5872
Senior Managing Director, The Blackstone Group