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XM Rumors Swirl, Sirius Hits 6M Subscribers, Issues Requisite Press Release

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Interesting timing of this press release, considering yesterday’s Times story on Wall Street’s doubts about satellite radio:

SIRIUS EXCEEDS 6 MILLION SUBSCRIBERS and achieves first cash flow positive quarter

  • Record Year With 2.7 Million Net Subscriber Additions in 2006
  • Company To Report Positive Free Cash Flow For Fourth Quarter 2006

    NEW YORK — January 2, 2007 — SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that it ended 2006 with approximately 6,024,000 subscribers, an 82% increase over the company’s 2005 ending subscriber base of 3,316,560. SIRIUS added a record 2.7 million net subscribers in 2006. Based on preliminary financial data, SIRIUS achieved its first ever quarter of positive free cash flow in the fourth quarter of 2006.

    SIRIUS plans to release full year 2006 financial results in February.

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