America News: Satellite radio future-bedfellows release Q1 stats

America News:  Satellite radio future-bedfellows release Q1 stats

Sirius passed the 6.5 million subscribers mark in the first quarter of 2007, while XM ended the quarter with more than 7.9 million.

Sirius claimed 66% of total satellite radio net additions in the first quarter of 2007.

Sirius added 556,490 subscribers in the first quarter of 2007, ending the quarter with around 6.58 million subscribers, 61% above 4.08 million at the end of Q1 2006.

XM added more than 868,000 new subscribers during the first quarter, ending the quarter with more than 7.9 million subscribers, compared with 6.5 million at the end of Q1 2006.

While Sirius expects to have 8 million subscribers by year-end 2007, XM recently announced that it has already exceeded the 8 million subscriber mark, and expects to end 2007 with between 9 million and 9.2 million subscribers.

Sirius reported a net loss of $144.7 million, a 68% improvement over the $458.5 million loss in the first quarter of 2006. The company’s revenue increased by 61% to a record $204 million (Q1 2006: $126.7m).

XM reported a net loss of $122 million, an 18% improvement over the prior year quarter. The company’s revenue increased by 27% to $264 million (Q1 2006: $208m).

In February 2007, Sirius and XM announced that they had entered into a definitive agreement, under which the companies would be combined in a tax-free, all-stock merger.

The transaction is subject to approval by both companies' shareholders, the satisfaction of customary closing conditions and regulatory review and approvals, including antitrust agencies and the FCC. Pending timely regulatory approval, the companies expect the transaction to be completed by the end of 2007.


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