Chevy Chase, Md. - Hugh Panero, the co-founder and former CEO of XM Satellite Radio , has joined venture capital firm New Enterprise Associates (NEA) as a venture partner, the firm announced on Thursday.

Panero will focus his efforts in the area of consumer technology.

"His wealth of expertise in building media businesses from concepts to consumer acceptance makes him an outstanding addition to our consumer technology team," said Peter Barris, NEA's managing general partner.

Panero co-founded DC-based XM in 1998 and served as its CEO until August 2007, shortly before the company merged with Sirius Satellite Radio. (NASD: SIRI)

At its height, XM had more than 9.3 million subscribers.

Panero started his career as a journalist, and prior to XM served as the president and CEO of Request Television, a pay-per-view network owned by TCI's Liberty Media and Twentieth Century Fox.

Related Links:
http://snipurl.com/56k0x

http://www.nea.com