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Thursday, November 4, 2010

Sirius XM promises "new shows, new celebrity hosts with fantastic appeal"

Sirius XM

CEO Mel Karmazin reports the company's third quarter results today, with positive momentum on subscribers revenue, free cash flow and income per share. He also raises his full-year guidance adjusted EBITDA from $575 million to $600 million, and expects adjusted revenue to top $2.8 billion. His comments about programming will get perhaps the most attention, what with the expiration of Howard Stern's current five-year contract in December. Karmazin promises that no matter what happens with that, there will be "new shows, new celebrity hosts and specialty programming with fantastic appeal to new and existing subscribers." The satellite radio operator's third quarter results show nearly 335,000 net subscriber additions in this year, compared to less than one-third that number a year ago. Karmazin still predicts the company will finish 2010 with 20.1 million subscribers. Third-quarter adjusted revenue was $722.5 million, up 15%. Average revenue per subscriber (ARPU) improved from $11.09 to $11.81. Review the latest from Sirius XM here.

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