NEW YORK: US satellite radio company Sirius has followed in its putative merger partner's footsteps and narrowed losses for the fourth quarter. The broadcaster, in the throes of a hoped-for marriage with XM Satellite Radio [WARC News: 28-Feb-07], posted losses of $245.6 million (€186m; £125m), compared with a loss of $311.4m in the year-earlier period.
Q4 revenues more than doubled to $193.4m from $80m the year before, due to steady subscriber growth and higher net advertising and equipment revenue.
Sirius, the current lair of shock jock Howard Stern, expects to end the year with eight million subscribers, up from its current 6.02m, and to post total revenue of around $1 billion.
Data sourced from Wall Street Journal Online. additional content by WARC staff