fwiw--F-10 was previously signed up to be a XM radio mfgr. presently XM is beating the tar out of Sirius.
January 8, 2004
Sirius Radio short of subscriber goal
By NADJA BRANDT
BLOOMBERG NEWS
Satellite-radio broadcaster Sirius Satellite Radio Inc. had 261,061 subscribers at the end of 2003, well short of the 2 million it has said it will need by next year to generate enough revenue to pay for its operations.
New York-based Sirius lowered its 2003 subscriber forecast in October, saying it no longer expected to reach a goal of 300,000. Sirius is competing with market leader XM Satellite Radio Holdings Inc., with 1.36 million subscribers.
Sirius' slower subscriber growth reflects in part the success XM has had in getting car companies such as General Motors Corp. to offer satellite radios as a factory-installed option. Sirius has a distribution agreement with Ford Motor Co., although Ford hasn't started installing Sirius radios in its cars.
"Ford has its own internal issues," John LaForge, portfolio manager at First Albany Capital, said yesterday.
