Sirius projects subscriptions will rise to 321,000 by year-end 20...
Sirius projects subscriptions will rise to 321,000 by year-end 2003 from 29,947 activations as of Dec. 31, reaching 1.3 million subscribers by end of 2004. So said Sirius in preliminary proxy statement filed with SEC for as-yet- unscheduled special…
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shareholder meeting to ratify terms of company’s proposed $1.2-billion recapitalization deal. Projections on Sirius subscriber growth would put it roughly year behind progress of rival XM, which began commercial service nationally 8 months earlier than Sirius. XM announced at CES it had reached 360,000 subscriptions Dec. 31 and projected growth to million by end of 2003. Sirius expects its activations to reach 2.9 million by end of 2005, 4.9 million by end of 2006, it said in proxy filing. Sirius has projected it will reach cash flow breakeven in 2005 at 2 million subscribers, assuming recapitalization plan is approved.