XM Reaches 9.7 Million Subscribers
[Satellite News 07-21-08] XM Satellite Radio added 322,000 net subscribers in the 2008 second quarter to bring its total subscriber base to 9.7 million, XM Satellite Radio Holdings Inc. announced July 21.
Total gross additions for the quarter were 1.1 million, which included a record 857,000 additions through original equipment manufacturer channels. Second quarter 2008 churn improved to 1.7 percent, compared to churn of 1.8 percent in both the 2007 second quarter and the first three months of 2008.
Subscription revenue for the 2008 second quarter is expected to be in the range of $283 million to $288 million with an adjusted operating loss in the range of $32 million to $38 million
Separately, XM announced it is launching an offering of $400 million as part of a series of transactions to refinance debt in connection with the pending merger with Sirius Satellite Radio Inc.