In June 1999, Clear Channel Communications, DirecTV, General Motors, and a private investment group invested US$250 million in XM Satellite Radio convertible debt. On June 7, with GM's investment in XM, they entered into a 12-year "Distribution Agreement" between XM and GM subsidiary, OnStar Corporation. The agreement called for exclusive installation of XM Satellite Radio into GM vehicles from November 12, 2001 until November 2013. OnStar had to meet specific escalating installation rates each year, while XM needed to make extensive payments to OnStar for the installation and sale of XM in their vehicles, while sharing revenue earned from these radios with OnStar, as well as payments on the exclusivity agreement.