Thursday, September 11, 2008

Sirius XM stock dives on wider loss forecast, debt issues

Shares of Sirius XM Radio Inc. fell sharply on Wednesday after the satellite radio company forecast a wider loss and slower subscriber growth for 2008 than analysts expected.

The New York-based company, which completed its acquisition of rival XM in July, told analysts at a media conference Tuesday that it expects to post a $350 million adjusted loss from earnings before interest, taxes, depreciation and amortization in 2008.
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How many of you in the radio business could continue in business with a $350 Milllion loss?

1 comment:

Gazmik said...

How many people in ANY business could stay in business with a $350 Million loss?