XM can’t give ‘assurances’ on the ’timing or outcome’ of a govern...
XM can’t give “assurances” on the “timing or outcome” of a government decision on the proposed merger with Sirius, but “we expect and we continue to look forward to a timely and positive resolution of the regulatory approval process,”…
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Chairman Gary Parsons told analysts Thursday in a quarterly earnings call. “In the unlikely event” that the merger is scrapped, XM is “fully funded for a stand-alone business,” Parsons said. For 2007, XM had 3.89 million gross subscriber additions -- flat compared with the 3.87 million gross adds in 2006, CEO Nate Davis said. Gross adds in Q4 jumped to 1.13 million from 1.07 million a year earlier, Davis said. But net adds fell to 1.4 million from 1.7 million, he said. “As you know, the retail satellite radio segment has been declining,” he said. “This softness in retail reflects growing competition from a myriad of audio entertainment sources like iPods and MP3 players, cellphones, Internet radio and other new devices. Competition from satellite radio has even made FM radio better.”