Sirius Passes Eight Million Subscriber Mark

07 January 2008

NEW YORK: Sirius Satellite Radio - which broadcasts more than 130 exclusive channels nationwide featuring news and sport to ad-free music - gained some 2.3 million subscribers in 2007, taking it to a forecast total of over 8m, the company reports.

The overall churn rate for the year was 2.2% , a figure at the low end of the broadcaster's original predictions.

Rah-rahs ceo Mel Karmazin: "Our gross subscriber additions in 2007 were the highest in the history of satellite radio."

Sirius recorded a net loss of $120.1 million (€81.6m; £60.7m) in the third quarter of 2007, down from $162.9m in Q3 2006, with revenues of $241.8m compared with $167.1m.

The company is also attempting to merge with rival XM Satellite Radio, and agreed a purchase price of $13.6 billion in February last year. However, the deal has yet to receive federal regulatory approval.

Data sourced from Wall Street Journal Online; additional content by WARC staff