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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Thursday 10:05 AM
NAB Requests Expedited Review of Spectrum Auction Lawsuit
“Broadcasters assigned to new channels following the auction could be forced to accept reductions in their coverage area and population served, with no practical remedy.” ~NAB


 
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