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Thursday, October 14, 2010

Sirius XM growing

MEL LOOKING SMARTER: Sirius XM said it added 334,727 net subscribers in the third quarter, more than tripling the gain from Q3 2009. It ended the quarter with 19.9 million subscribers. The rate of customer defections in the quarter totaled 1.9% among self-pay customers, a skosh down from 2% a year earlier. The rate of customers keeping the service after a free-trial period with a new-vehicle purchase rose to 48.1% from 46.2%. Sirius also announced plans to sell up to $550 million in eight-year notes to institutional investors as it seeks to refinance shorter-term debt. Sirius stock has more than doubled this year as the company's bottom line continues to improve, with subscriptions rebounding to above pre-recession levels. announced plans to sell up to $550 million in eight-year notes to institutional investors as it seeks to refinance shorter-term debt. (10/14a)

 
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