06.06.2003 12:00 AM
XM's Subscriber Base Grows
XM Satellite Radio now has 600,000 subscribers, up about 100,000 as of mid-April. The information was contained in a regulatory filing. Also in the Securities and Exchange Commission filing, XM said it raised $30.4 million between April 1 and May 6 through a direct stock purchase program and issued shares of Class A common stock to eliminate $49.5 million of debt.

The satcaster intends to sell $125 million principal amount of Senior Secured Notes Due 2010 to qualified institutional buyers. XM and the first buyer will set the offering price and interest rate.

Sirius recently set a price of $1.80 per-share price of 75 million common shares.



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Tuesday 06:00 AM
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I suspect that the estimated $44 billion of auction proceeds do not take into account the fact that some spectrum the FCC will buy cannot be resold because it must be used as guard intervals in the 600 MHz band plan.~ Charles W. Rhodes

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