Sirius XM Radio Has First Quarterly Profit Since The Merger

Posted Feb 26, 2010

Sirius XM Radio has posted their first quarterly profit since the merger. The company expects to add about 500,000 customers in 2010 as there has been an increase in demand for new cars. It was about a year ago that Sirius XM was considering a bankruptcy. Liberty Media helped bail out the radio company from the bankruptcy. Liberty has about a 40% equity stake in the radio company. Sirius XM reported a fourth quarter net income of $14.2 million. About a year ago, Sirius XM had a net loss of $245.8 million. [NYT]