Sirius Xm News

Shares to facilitate hedging for XM Exchangeable Note Offering
Shares will not be considered outstanding for accounting purposes

SIRIUS Satellite Radio Inc. announced today the
commencement of an offering of shares of its common stock. The common
stock being offered represent shares of SIRIUS common stock that SIRIUS
will be lending to affiliates of Morgan Stanley & Co. Incorporated
and UBS Investment Bank, the share borrowers, pursuant to share lending
agreements between SIRIUS and each of the share borrowers. It is
estimated that, based on current market values, approximately
$375,000,000 of SIRIUS common stock will be sold in a fixed-price
public offering described below, and up to approximately $65,000,000 of
SIRIUS common stock will be sold as described below from time to time
at prevailing market or negotiated prices. The exact number of shares
of SIRIUS common stock to be offered will depend on the terms of the
concurrent offering of exchangeable senior subordinated notes described
below and the hedging to be conducted by investors in such notes. While
the borrowed shares will be considered issued and outstanding for
corporate law purposes, SIRIUS believes that under U.S. generally
accepted accounting principles currently in effect, the borrowed shares
will not be considered outstanding for the purpose of computing and
reporting earnings (loss) per share because the borrowed shares are
required to be returned to SIRIUS.

The
common stock offering is being conducted concurrently with a private
offering by XM Satellite Radio Inc. of $550 million aggregate principal
amount of Exchangeable Senior Subordinated Notes due 2014 (”Notes”)
which will be exchangeable into shares of SIRIUS common stock. The
terms of the Notes, including the interest rate and exchange ratio,
will be determined at the time that such offering is priced. The Notes
have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States or
to U.S. person absent registration or an applicable exemption from the
registration requirements of applicable securities laws.

In
connection with the common stock offering, SIRIUS will enter into a
share lending agreement with each of the share borrowers, pursuant to
which SIRIUS will lend shares to the share borrowers. The share
borrowers will sell a portion of the borrowed shares in a fixed-price
public offering expected to close concurrently with the Notes offering.
After the closing of the fixed- price offering, the share borrowers
will offer and sell the remaining borrowed shares in one or more
registered public offerings at prevailing market or negotiated prices.
Over the same period that the share borrowers sell the remaining
borrowed shares, the share borrowers or their affiliates expect to
purchase at least an equal number of shares of SIRIUS common stock on
the open market and/or enter into derivative transactions providing it
with a synthetic long position equal to such number of shares. SIRIUS
will not receive any proceeds from the sale of its common stock by the
share borrowers other than a nominal loan fee equal to $0.001 per share
issued to the share borrowers. The share borrowers will be required to
return the borrowed shares pursuant to the share lending agreements
following the maturity date of the Notes or their earlier retirement.

Morgan
Stanley & Co. Incorporated and UBS Investment Bank will act as sole
underwriters for the sale of the borrowed shares. A prospectus can be
obtained by contacting Morgan Stanley & Co. Incorporated, 180
Varick Street, New York, NY 10014; Attention: Prospectus Department or
by email at prospectus@morganstanley.com or by contacting UBS
Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New
York, NY 10171, (888) 827-7275.

This press release shall not
constitute an offer to sell or a solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

– Revenue of $283 Million, Up 25% Year Over Year
– Total Subscribers of More Than 8.9 Million, Up 25% Year Over Year
– Adjusted Loss from Operations Improves 70% Year Over Year

SIRIUS Satellite Radio today announced preliminary
second quarter 2008 financial results, including a 25% increase in
revenue to $283 million, total subscribers in excess of 8.9 million and
a 70% decrease in its adjusted loss from operations.

As of June 30, 2008, SIRIUS had 8.924 million subscribers, an
increase of 25% from June 30, 2007 subscribers of 7.143 million. Retail
subscribers increased 7% in the second quarter 2008 to 4.677 million
from 4.365 million in the second quarter 2007. OEM subscribers
increased 53% in the second quarter 2008 to 4.247 million from 2.778
million in the second quarter 2007. Total gross subscriber additions
for the quarter ended June 30, 2008 were 1.029 million, compared to
1.002 million for the quarter ended June 30, 2007 and 1.003 million for
the quarter ended March 31, 2008. During the second quarter 2008 SIRIUS
added 279,820 new net subscribers, consisting of 246,221 from the OEM
channel and 33,599 from the retail channel.

Second
quarter 2008 average monthly self-pay customer churn rate was 1.6%,
down from 2.1% in first quarter 2008. The second quarter 2008
conversion rate is estimated to be approximately 48%, up from the first
quarter 2008 conversion rate of approximately 47%.

Total
revenue for the second quarter 2008 is expected to be approximately
$283 million, an increase of 25% from the second quarter 2007 total
revenue of $226 million. Operating expenses, excluding depreciation and
stock based compensation, are expected to remain approximately flat in
the second quarter 2008 as compared to the second quarter 2007. Second
quarter 2008 adjusted loss from operations is expected to be
approximately $24 million, an improvement of 70% from the adjusted loss
from operations of $79 million in the second quarter 2007.

Watch a demo on the new Sirius Travel Link system found in the 2009 Lincoln MKS

Sirius Travel Link System Demo - In 2009 Lincoln MKS

From: CarDataVideo

ABBA Radio will feature non-stop broadcast of the ABBA song catalog
as well as exclusive and rare long-form interviews with Benny Andersson
and Bjorn Ulvaeus of ABBA
The 24/7 channel dedicated to ABBA will premiere in celebration of the worldwide release of “MAMMA MIA!” The Movie

SIRIUS Satellite Radio will launch ABBA Radio, an
exclusive channel dedicated to international pop supergroup, ABBA. ABBA
Radio will debut on Monday, July 7 at 6 pm ET on SIRIUS channel 3 in
celebration of the upcoming release of MAMMA MIA! The Movie.

Meryl Streep leads an all-star cast in the feature-film adaptation
of the beloved stage musical seen by more than 30 million people in 160
cities and 8 languages around the world. MAMMA MIA! The Movie opens in
theaters in the U.S. on July 18, 2008.

ABBA Radio will
broadcast ABBA music 24/7 for two weeks and will feature all the hits
originally performed by the group. The channel will also feature tracks
from the original cast recording of the hit stage musical phenomenon,
MAMMA MIA!. In addition, SIRIUS listeners will hear two-time Academy
Award(R)-winning actress Meryl Streep, Pierce Brosnan, and Colin Firth
sing ABBA songs on the soundtrack to MAMMA MIA! The Movie, to be
released by DECCA on July 8, 2008.

“Thanks
to ABBA Radio on SIRIUS, both new and longtime fans have a place to
experience the original music of ABBA, together with the new songs
produced for the soundtrack to Mamma Mia! The Movie, in a distinctively
innovative way. ABBA Radio allows for our early songs to join the new
ones in harmony on SIRIUS’ national platform, and engage all
generations of listeners,” said Benny Andersson.

“A world wide
release of a movie and a soundtrack album is a once in a lifetime event
and I’m so proud that ABBA Radio on SIRIUS is following it closely,”
said Bjorn Ulvaeus. “ABBA Radio on SIRIUS is unique in that both Benny
Andersson and I have made extensive interviews for the channel and
we’ve done that for no-one else.”

“ABBA created one of the most distinctive sounds and
styles in music and has found to this day enduring international
popularity,” said Scott Greenstein, SIRIUS President of Entertainment
and Sports. “We are excited to offer ABBA Radio to SIRIUS listeners,
which will include interviews with Benny and Bjorn as well as the cast
of the MAMMA MIA! movie, and of course unprecedented access to ABBA’s
music.”

Click here for the rest of this story.

http://www.sirius.com/abbaradio

Similar to iRadio, uSirius lets people stream Sirius Satellite Radio to their iPhones over Wi-Fi or EDGE (and shortly, 3G). Reader Brandon says that anyone can try this out for free for three days before registering, and that it works great over both connection types. Our own Benny Goldman went nuts when he saw this, so you Sirius fans should go equally nuts when you load this on your phones. But in a, you know, less hairy way. Grab it on Installer.app.

Via: Gizmodo

I know this is just a rumor and is probably false but Kidd Chris who was recently fired from his FM Radio job for Airing a Racist song has a count down clock clock on his website right now with his name Spelled K1DDCHR15 with a song playing that actually has the word Serious in it. The clock reads 17 Days 2 Hours 16 minutes. Counting the Silence is also displayed on the clock.

Now I know Kidd has been on Stern before talking about doing shows on Sirius but as of right now Disney is on channel 115 on both Sirius and XM Radio. Also does Kidd really need his own channel on Sirius? Seems like he could just go on Howard 101 or even replace Bubba. Kidd is a knock off of Stern anyways.

I guess we will figure out sometime next week, so for now this is still a rumor.

* Revenue of $270.4 Million, Up 33% Year Over Year
* Total Subscribers of More Than 8.6 Million, Up 31% Year Over Year
* Record First Quarter Gross Subscriber Additions - Exceed 1 Million
* Adjusted Loss From Operations Improves 55%

SIRIUS Satellite Radio today announced first quarter
2008 financial results, including a 33% increase in revenue to $270.4
million, total subscribers in excess of 8.6 million and a 55% decrease
in the adjusted loss from operations.

“SIRIUS continues to demonstrate robust subscriber and revenue
growth, along with strong cost discipline and significant improvement
in our bottom line,” said Mel Karmazin, CEO of SIRIUS. “Compared with a
year ago, first quarter 2008 subscribers grew 31%, revenue grew 33%,
while cash operating costs only grew 8%, leading to a 55% decline in
our adjusted loss from operations.”

“We await the FCC decision on our pending merger with XM, and we are eager to deliver the strong benefits
of the combined company to our subscribers and stockholders.”

SIRIUS
ended first quarter 2008 with 8,644,319 subscribers, up 31% from
6,581,045 subscribers at the end of first quarter 2007. Retail
subscribers increased 10% in the first quarter 2008 to 4,643,215 from
4,234,804 at the end of first quarter 2007. OEM subscribers increased
72% in the first quarter 2008 to 3,986,818 from 2,323,683 at the end of
first quarter 2007. During the first quarter 2008, SIRIUS added 322,534
net subscribers and achieved a 52% share of satellite radio net
subscriber additions.

Total
revenue for the first quarter 2008 increased to $270.4 million, up 33%
from first quarter 2007 total revenue of $204.0 million. Average
monthly revenue per subscriber (or “ARPU”) was $10.42 in first quarter
2008 as compared with $10.46 for first quarter 2007. First quarter 2008
average all-in customer churn was 2.7%. SAC per gross subscriber
addition was $91 in first quarter 2008, an improvement over first
quarter 2007’s SAC per gross subscriber addition of $101.

SIRIUS
reported a first quarter 2008 net loss of ($104.1) million, or ($0.07)
per share, an improvement of 28% over first quarter 2007 net loss of
($144.7) million, or ($0.10) per share. The adjusted loss from
operations for first quarter 2008 improved 53% to ($39.5) million, as
compared to the adjusted loss from operations of ($84.0) million in
first quarter 2007.

2008 OUTLOOK

Following approval of
the pending merger with XM by the Federal Communications Commission,
SIRIUS will provide guidance for 2008.

RESULTS OF OPERATIONS

The
discussion of operating expenses below excludes the effects of
stock-based compensation. SIRIUS believes this presentation improves
the transparency of disclosure and is consistent with the way operating
results are evaluated by management.

FIRST QUARTER 2008 VERSUS FIRST QUARTER 2007

For the first
quarter of 2008, SIRIUS recognized total revenue of $270.4 million
compared to $204.0 million for the first quarter of 2007. This 33%, or
$66.4 million, increase in revenue was driven by a $64.8 million
increase in subscriber revenue resulting from the net increase in
subscribers of 2,063,274 from the first quarter of 2007.

The
company’s adjusted loss from operations decreased $44.5 million to
($39.5) million for the first quarter of 2008 from ($84.0) million for
the first quarter of 2007 (refer to the reconciliation table of net
loss to adjusted loss from operations). This decrease was driven by the
increase in total revenue of $66.4 million offset by a $21.8 million
increase in non-operating expenses.

Satellite and transmission expenses decreased $0.3 million to $7.0 million for the first quarter of 2008
compared to $7.3 million for the first quarter of 2007 as a result of lower maintenance expenses in the first of quarter 2008.

Programming
and content expenses increased $1.8 million to $58.9 million for the
first quarter of 2008 from $57.1 million for the first quarter of 2007.
The increase was primarily attributable to higher compensation-related
costs for additions to headcount.

Revenue share and royalties
increased $15.2 million to $42.3 million for the first quarter of 2008
from $27.1 million for the first quarter of 2007. This increase was
attributable to the determination by the Copyright Royalty Board in
January 2008 of the royalty rate under the statutory license covering
the performance of sound recordings. The 33% growth in the company’s
revenues also contributed to the increase in revenue share and
royalties.

Customer service and billing expenses increased $4.9
million to $26.6 million for the first quarter of 2008 from $21.7
million for the first quarter of 2007. The increase was primarily
attributable to higher call center operating costs necessary to
accommodate the increase in the company’s subscriber base. Customer
service and billing expenses per average subscriber per month declined
9.0% to $1.05 for the first quarter of 2008 from $1.15 for the first
quarter of 2007.

Sales
and marketing expenses decreased $2.2 million to $33.2 million for the
first quarter of 2008 from $35.4 million for the first quarter of 2007.
This decrease was primarily attributable to lower advertising and
reduced cooperative marketing spend with the company’s distributors
compared to the year-ago first quarter.

Subscriber acquisition
costs (SAC) decreased $8.4 million, or 9%, to $89.8 million for the
first quarter of 2008 from $98.2 million for the first quarter of 2007.
This decrease was primarily attributable to production efficiencies and
a higher average retail selling price, offset by increased OEM unit
production.

SAC
per gross subscriber addition decreased 10% to $91 for the first
quarter of 2008 from $101 for the first quarter of 2007. The decrease
was driven by lower per unit subsidies due to production efficiencies
and a higher average retail selling price, offset by a higher mix of
OEM gross additions.

General and administrative expenses
increased $13.4 million to $36.8 million for the first quarter of 2008
from $23.4 million for the first quarter of 2007. The increase was
primarily the result of higher litigation related costs and
compensation-related costs to support the growth of our business.

Engineering,
design and development expenses decreased $3.9 million to $7.5 million
for the first quarter of 2008 from $11.4 million for the first quarter
of 2007. This decrease was attributable to reduced OEM and product
development costs.

SIRIUS
reported a net loss of ($104.1) million, or ($0.07) per share, for the
first quarter of 2008 compared to a net loss of ($144.7) million, or
($0.10) per share, for the first quarter of 2007.

<br />                 SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES<br />                           SUBSCRIBER DATA, METRICS<br />                    AND OTHER NON-GAAP FINANCIAL MEASURES<br />               (Dollars in thousands, unless otherwise stated)<br /><br />    Subscriber Data:<br />                                              For the Three Months<br />                                                 Ended March 31,<br />                                             2008              2007<br /><br />     Beginning subscribers                8,321,785         6,024,555<br />     Net additions                          322,534           556,490<br />       Ending subscribers                 8,644,319         6,581,045<br /><br />       Retail                             4,643,215         4,234,804<br />       OEM                                3,986,818         2,323,683<br />       Hertz                                 14,286            22,558<br />     Ending subscribers                   8,644,319         6,581,045<br /><br />       Retail                                 2,506           192,978<br />       OEM                                  321,186           364,674<br />       Hertz                                 (1,158)           (1,162)<br />     Net additions                          322,534           556,490<br /><br /><br />     Metrics:<br />                                               For the Three Months<br />                                                  Ended March 31,<br />                                            2008              2007<br /><br />     Gross subscriber additions           1,003,422           988,458<br />     Deactivated subscribers                680,888           431,968<br />     Average monthly churn (1)(6)               2.7%              2.3%<br />     SAC per gross subscriber<br />      addition (3)(6)                           $91              $101<br />     Customer service and billing<br />      expenses per average<br />      subscriber (3)(6)                       $1.05             $1.15<br />     Total revenue                         $270,350          $204,037<br />     Free cash flow (4)(6)                $(186,535)        $(146,715)<br /><br />     Monthly ARPU:<br />       Average monthly subscriber<br />        revenue per subscriber<br />        before the effects of<br />        Hertz subscribers and rebates        $10.09            $10.30<br />       Effects of Hertz subscribers            0.04              0.04<br />       Effects of rebates                     (0.04)            (0.24)<br />       Average monthly subscriber<br />        revenue per subscriber                10.09             10.10<br />       Average monthly net<br />        advertising revenue per<br />        subscriber                             0.33              0.36<br />       ARPU                                  $10.42            $10.46<br /><br /><br /><br />                 SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES<br />                           SUBSCRIBER DATA, METRICS<br />              AND OTHER NON-GAAP FINANCIAL MEASURES - CONTINUED<br />               (Dollars in thousands, unless otherwise stated)<br /><br />     Adjusted Loss from Operations:<br />                                              For the Three Months<br />                                                 Ended March 31,<br />                                              2008              2007<br /><br />      Net loss                            $(104,118)        $(144,745)<br />        Depreciation                         26,906            26,786<br />        Stock-based compensation             22,262            24,260<br />        Other non operating expense          14,950             9,145<br />        Income tax expense                      543               555<br />       Adjusted loss from<br />        operations (7)                     $(39,457)         $(83,999)<br /><br /><br />      Adjusted Net Loss:<br />                                              For the Three Months<br />                                                 Ended March 31,<br />                                             2008              2007<br /><br />      Net loss                            $(104,118)        $(144,745)<br />        Stock-based compensation             22,262            24,260<br />      Adjusted net loss                    $(81,856)        $(120,485)<br />      Net loss per share (basic<br />       and diluted) (8)                      $(0.07)           $(0.10)<br />      Weighted average common<br />       shares outstanding<br />       (basic and diluted)                1,475,496         1,457,011<br /><br /><br /><br />                 SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES<br />                           SUBSCRIBER DATA, METRICS<br />              AND OTHER NON-GAAP FINANCIAL MEASURES - CONTINUED<br />               (Dollars in thousands, unless otherwise stated)<br /><br />    Condensed Consolidated Statements of Operations:<br /><br />                                              For the Three Months<br />                                                 Ended March 31,<br />                                            2008               2007<br /><br />     Total revenue                        $270,350           $204,037<br />     Operating expenses<br />      (excludes depreciation and<br />      stock-based compensation<br />      shown separately below):<br />       Satellite and transmission            7,025              7,330<br />       Programming and content              58,903             57,063<br />       Revenue share and royalties          42,320             27,134<br />       Customer service and billing         26,646             21,654<br />       Cost of equipment                     7,588              6,458<br />       Sales and marketing                  33,227             35,352<br />       Subscriber acquisition costs         89,810             98,237<br />       General and administrative           36,780             23,403<br />       Engineering, design and development   7,508             11,405<br />       Depreciation                         26,906             26,786<br />       Stock-based compensation             22,262             24,260<br />     Total operating expenses              358,975            339,082<br />     Loss from operations                  (88,625)          (135,045)<br />       Other expense                       (14,950)            (9,145)<br />     Loss before income taxes             (103,575)          (144,190)<br />       Income tax expense                     (543)              (555)<br />     Net loss                            $(104,118)         $(144,745)<br /><br /><br /><br />                 SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES<br />                    CONSOLIDATED STATEMENTS OF OPERATIONS<br />                   (In thousands, except per share amounts)<br /><br />                                                      For the Three Months<br />                                                        Ended March 31,<br />                                                    2008              2007<br />     Revenue:<br />       Subscriber revenue, including<br />        effects of rebates                        $255,640          $190,796<br />       Advertising revenue, net of agency fees       8,408             6,721<br />       Equipment revenue                             6,063             4,671<br />       Other revenue                                   239             1,849<br />     Total revenue                                 270,350           204,037<br />     Operating expenses (excludes<br />      depreciation shown separately below) (1):<br />       Cost of services:<br />         Satellite and transmission                  7,822             7,986<br />         Programming and content                    61,692            59,998<br />         Revenue share and royalties                42,320            27,134<br />         Customer service and billing               26,922            21,853<br />         Cost of equipment                           7,588             6,458<br />       Sales and marketing                          38,467            40,996<br />       Subscriber acquisition costs                 89,824           100,117<br />       General and administrative                   48,778            35,343<br />       Engineering, design and development           8,656            12,411<br />       Depreciation                                 26,906            26,786<br />     Total operating expenses                      358,975           339,082<br />       Loss from operations                        (88,625)         (135,045)<br />     Other income (expense):<br />       Interest and investment income                2,802             6,042<br />       Interest expense, net of amounts<br />        capitalized                                (17,675)          (15,192)<br />       Other (expense) income                          (77)                5<br />     Total other expense                           (14,950)           (9,145)<br />       Loss before income taxes                   (103,575)         (144,190)<br />       Income tax expense                             (543)             (555)<br />         Net loss                                $(104,118)        $(144,745)<br />     Net loss per share (basic and diluted)         $(0.07)           $(0.10)<br />     Weighted average common shares<br />      outstanding (basic and diluted)            1,475,496         1,457,011<br /><br />    (1) Amounts related to stock-based<br />        compensation included in other<br />        operating expenses were as follows:<br /><br />        Satellite and transmission                    $797              $656<br />        Programming and content                      2,789             2,935<br />        Customer service and billing                   276               199<br />        Sales and marketing                          5,240             5,644<br />        Subscriber acquisition costs                    14             1,880<br />        General and administrative                  11,998            11,940<br />        Engineering, design and development          1,148             1,006<br />        Total stock-based compensation             $22,262           $24,260<br /><br /><br /><br />                 SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES<br />                              BALANCE SHEET DATA<br />                            (Dollars in thousands)<br /><br />                                                          As of<br />                                            March 31, 2008   December 31, 2007<br />                                              (unaudited)<br />     Cash, cash equivalents and<br />      marketable securities                     $252,969          $439,289<br />     Restricted investments                       56,000            53,000<br />     Working capital                            (741,218)         (394,989)<br />     Total assets                              1,469,823         1,694,149<br />     Total debt                                1,282,743         1,314,418<br />     Total liabilities                         2,309,257         2,486,886<br />     Accumulated deficit                      (4,503,090)       (4,398,972)<br />     Stockholders' deficit                      (839,434)         (792,737)<br /><br /><br /><br />                 SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES<br />                    CONSOLIDATED STATEMENTS OF CASH FLOWS<br />                            (Dollars in thousands)<br /><br />                                                     For the Three Months<br />                                                        Ended March 31,<br />                                                    2008               2007<br />     Cash flows from operating activities:<br />       Net loss                                  $(104,118)         (144,745)<br />       Adjustments to reconcile net loss<br />        to net cash used in operating<br />        activities:<br />         Depreciation                               26,906            26,786<br />         Non-cash interest expense                   1,004               754<br />         Provision for doubtful accounts             2,560             2,088<br />         Gain on disposal of assets                    -                  (4)<br />         Stock-based compensation                   22,262            24,260<br />         Deferred income taxes                         543               555<br />       Changes in operating assets and<br />        liabilities:<br />         Accounts receivable                        18,765             6,639<br />         Inventory                                   4,193              (473)<br />         Receivables from distributors              (9,988)           (7,569)<br />         Prepaid expenses and other current<br />          assets                                    14,256            (9,173)<br />         Other long-term assets                      3,256               (23)<br />         Accounts payable and accrued expenses    (116,741)          (47,811)<br />         Accrued interest                          (11,885)          (11,763)<br />         Deferred revenue                           14,712            21,731<br />         Other long-term liabilities                (5,017)            7,702<br />           Net cash used in operating activities  (139,292)         (131,046)<br />     Cash flows from investing activities:<br />       Additions to property and equipment         (39,225)          (12,458)<br />       Sales of property and equipment                 -                  96<br />       Purchases of restricted and other<br />        investments                                 (3,000)             (310)<br />       Sale of investments                           5,000               -<br />       Merger related costs                        (10,018)           (2,901)<br />       Sales of available-for-sale securities            8            10,850<br />           Net cash used in investing<br />            activities                             (47,235)           (4,723)<br />     Cash flows from financing activities:<br />       Repayment of long-term borrowings              (625)              -<br />       Proceeds from exercise of stock options         840             1,510<br />           Net cash provided by financing<br />            activities                                 215             1,510<br />     Net decrease in cash and cash equivalents    (186,312)         (134,259)<br />     Cash and cash equivalents at the<br />      beginning of period                          438,820           393,421<br />     Cash and cash equivalents at the<br />      end of period                               $252,508          $259,162<br /><br /><br /><br />    FOOTNOTES TO PRESS RELEASE AND TABLES FOR NON-GAAP FINANCIAL MEASURES<br /><br /></pre><p>This press release, including the selected financial
information above, includes the following non-GAAP financial measures:
average monthly churn; SAC per gross subscriber addition; customer
service and billing expenses per average subscriber; free cash flow;
average monthly revenue per subscriber, or ARPU; adjusted loss from
operations; and adjusted net loss. The definitions and usefulness of
such non-GAAP financial measures are as follows (dollars in thousands,
unless otherwise stated): </p><pre>     (1) SIRIUS defines average monthly churn as the number of deactivated<br />         subscribers divided by average quarterly subscribers.<br /><br />     (2) SIRIUS defines SAC per gross subscriber addition as subscriber<br />         acquisition costs, excluding stock-based compensation, and margins<br />         from the direct sale of SIRIUS radios and accessories divided by the<br />         number of gross subscriber additions for the period. SAC per gross<br />         subscriber addition is calculated as follows:<br /><br /><br />                                              For the Three Months<br />                                                    March 31,<br />                                              2008              2007<br /><br />    Subscriber acquisition costs            $89,824          $100,117<br />    Less:  stock-based compensation             (14)           (1,880)<br />    Add:  margin from direct sales of<br />     SIRIUS radios and accessories            1,525             1,787<br />    SAC                                     $91,335          $100,024<br />    Gross subscriber additions            1,003,422           988,458<br />    SAC per gross subscriber addition           $91              $101<br /><br /><br />     (3) SIRIUS defines customer service and billing expenses per average<br />         subscriber as total customer service and billing expenses, excluding<br />         stock-based compensation, divided by the daily weighted average<br />         number of subscribers for the period. Customer service and billing<br />         expenses per average subscriber is calculated as follows:<br /><br /><br />                                                   For the Three Months<br />                                                      Ended March 31,<br />                                                  2008              2007<br /><br />    Customer service and billing expenses       $26,922           $21,853<br />    Less:  stock-based compensation                (276)             (199)<br />    Customer service and billing expenses,<br />     as adjusted                                $26,646           $21,654<br />    Daily weighted average number of<br />     subscribers                              8,446,343         6,295,282<br />    Customer service and billing expenses,<br />      as adjusted, per average subscriber         $1.05             $1.15<br /><br /><br />     (4) SIRIUS defines free cash flow as cash flow from operating activities,<br />         capital expenditures, merger related costs and restricted and other<br />         investment activity. Free cash flow is calculated as follows:<br /><br /><br />                                                 For the Three Months<br />                                                    Ended March 31,<br />                                                 2008              2007<br />    Net cash used in operating activities     $(139,292)        $(131,046)<br />    Additions to property and equipment         (39,225)          (12,458)<br />    Merger related costs                        (10,018)           (2,901)<br />    Restricted and other investment<br />     activity                                     2,000              (310)<br />    Free cash flow                            $(186,535)        $(146,715)<br /><br /><br />     (5) SIRIUS defines ARPU as the total earned subscriber revenue and net<br />         advertising revenue divided by the daily weighted average number<br />         of subscribers for the period. ARPU is calculated as follows:<br /><br /><br />                                                 For the Three Months<br />                                                    Ended March 31,<br />                                                 2008              2007<br />    Subscriber revenue                         $255,640          $190,796<br />    Net advertising revenue                       8,408             6,721<br />    Total subscriber and net advertising<br />     revenue                                   $264,048          $197,517<br />    Daily weighted average number<br />     of subscribers                           8,446,343         6,295,282<br />    ARPU                                         $10.42            $10.46<br /><br /><br />     (6) SIRIUS believes average monthly churn; SAC per gross subscriber<br />         addition; customer service and billing expenses per average<br />         subscriber; free cash flow; and ARPU provide meaningful information<br />         regarding operating performance and liquidity and are used for<br />         internal management purposes; when publicly providing the business<br />         outlook; as a means to evaluate period-to-period comparisons; and<br />         to compare the company's performance to that of its competitors.<br />         SIRIUS also believes that investors use current and projected metrics<br />         to monitor performance of the business and make investment decisions.<br /><br />         SIRIUS believes the exclusion of stock-based compensation expense in<br />         the calculations of SAC per gross subscriber addition and customer<br />         service and billing expenses per average subscriber is useful given<br />         the significant variation in expense that can result from changes in<br />         the fair market value of SIRIUS common stock, the effect of which is<br />         unrelated to the operational conditions that give rise to variations<br />         in the components of subscriber acquisition costs and customer<br />         service and billing expenses. Specifically, the exclusion of<br />         stock-based compensation expense in the calculation of SAC per gross<br />         subscriber addition is critical in being able to understand the<br />         economic impact of the direct costs incurred to acquire a subscriber<br />         and the effect over time as economies of scale are reached.<br /><br />         These non-GAAP financial measures are used in addition to and in<br />         conjunction with results presented in accordance with GAAP. These<br />         non-GAAP financial measures may be susceptible to varying<br />         calculations; may not be comparable to other similarly titled<br />         measures of other companies; and should not be considered in<br />         isolation for, or superior to measures of financial performance<br />         prepared in accordance with GAAP.<br /><br />     (7) SIRIUS refers to net loss before taxes; other income<br />         (expense) -- including interest and investment income, interest<br />         expense, equity in net loss of affiliate; depreciation; and<br />         stock-based compensation expense as adjusted loss from operations.<br />         Adjusted loss from operations is not a measure of financial<br />         performance under GAAP. The company believes adjusted loss from<br />         operations is a useful measure of its operating performance. The<br />         company uses adjusted loss from operations for budgetary and planning<br />         purposes; to assess the relative profitability and on-going<br />         performance of consolidated operations; to compare performance from<br />         period to period; and to compare performance to that of its<br />         competitors. The company also believes adjusted loss from operations<br />         is useful to investors to compare operating performance to the<br />         performance of other communications, entertainment and media<br />         companies. The company believes that investors use current and<br />         projected adjusted loss from operations to estimate the current or<br />         prospective enterprise value and make investment decisions.<br /><br />         Because the company funds and builds-out its satellite radio system<br />         through the periodic raising and expenditure of large amounts of<br />         capital, results of operations reflect significant charges for<br />         interest and depreciation expense. The company believes adjusted loss<br />         from operations provides useful information about the operating<br />         performance of the business apart from the costs associated with the<br />         capital structure and physical plant. The exclusion of interest<br />         expense and depreciation is useful given fluctuations in interest<br />         rates and significant variation in depreciation expense that can<br />         result from the amount and timing of capital expenditures and<br />         potential variations in estimated useful lives, all of which can vary<br />         widely across different industries or among companies within the same<br />         industry. The company believes the exclusion of taxes is appropriate<br />         for comparability purposes as the tax positions of companies can vary<br />         because of their differing abilities to take advantage of tax<br />         benefits and because of the tax policies of the various jurisdictions<br />         in which they operate. The company also believes the exclusion of<br />         stock-based compensation expense is useful given the significant<br />         variation in expense that can result from changes in the fair market<br />         value of the company's common stock. Finally, the company believes<br />         that the exclusion of equity in net loss of affiliate (SIRIUS Canada,<br />         Inc.) is useful to assess the performance of its core consolidated<br />         operations in the continental United States. To compensate for the<br />         exclusion of taxes, other income (expense), depreciation, impairment<br />         charges and stock-based compensation expense, the company separately<br />         measures and budgets for these items.<br /><br />         There are material limitations associated with the use of adjusted<br />         loss from operations in evaluating the company compared with net<br />         loss, which reflects overall financial performance, including the<br />         effects of taxes, other income (expense), depreciation, impairment<br />         charges and stock-based compensation expense. The company uses<br />         adjusted loss from operations to supplement GAAP results to provide<br />         a more complete understanding of the factors and trends affecting the<br />         business than GAAP results alone. Investors that wish to compare and<br />         evaluate the operating results after giving effect for these costs,<br />         should refer to net loss as disclosed in the unaudited consolidated<br />         statements of operations. Since adjusted loss from operations is a<br />         non-GAAP financial measure, the calculation of adjusted loss from<br />         operations may be susceptible to varying calculations; may not be<br />         comparable to other similarly titled measures of other companies;<br />         and should not be considered in isolation, as a substitute for, or<br />         superior to measures of financial performance in accordance with<br />         GAAP.<br /><br />     (8) SIRIUS refers to adjusted net loss as net loss per share excluding<br />         stock-based compensation expense. Adjusted net loss is not a measure<br />         of financial performance under GAAP. The company believes adjusted<br />         net loss is useful to investors to compare its operating performance<br />         to the performance of other communications, entertainment and media<br />         companies. The company also believes the exclusion of stock-based<br />         compensation expense is useful given the significant variation in<br />         expense that can result from changes in the fair market value of the<br />         company's common stock.<br /><br />         There are material limitations associated with the use of adjusted<br />         net loss in evaluating the company compared with net loss, which<br />         reflects overall financial performance, including the effects of<br />         stock-based compensation expense. The company uses adjusted net loss<br />         to supplement GAAP results to provide a more complete understanding<br />         of the factors and trends affecting the business than GAAP results<br />         alone. Investors that wish to compare and evaluate the operating<br />         results after giving effect for these costs, should refer to net loss<br />         as disclosed in the unaudited consolidated financial statements of<br />         operations. Since adjusted net loss is a non-GAAP financial measure,<br />         the calculation of adjusted net loss may be susceptible to varying<br />         calculations; may not be comparable to other similarly titled<br />         measures of other companies; and should not be considered in<br />         isolation, as a substitute for, or superior to measures of financial<br />         performance prepared in accordance with GAAP.<br /><br /><br />

Howard 100 news has confirmed Artie Lange will be back on the show Monday morning.

There is also Audio of Artie at a gig saying the same thing. The question is, will he be back for good or is he just coming back to say goodbye to everyone and finally leave the show?

Guess we will have to tune in Monday to figure everything out. I’m sure this is one of the most anticipated Howard Stern shows in a long time.

Here is the Video to the Artie Audio

Skip to 1:30 to hear it.

Stay Tuned for more info on Monday.

Technorati Tags: artie lange, returns to howard stern show, howard 100 news

‘Radio R.E.M.’ will premiere in conjunction with band’s new studio album ‘Accelerate’
SIRIUS
channel will play music from R.E.M.’s three-decade career, exclusive
interviews with band members, and songs hand selected by R.E.M.’s
Michael Stipe, Peter Buck and Mike Mills

SIRIUS Satellite Radio announced today that R.E.M.
(Warner Bros. Records) will take over its Spectrum channel for an
entire week. Radio R.E.M. will launch in conjunction with the release
of the band’s 14th studio album Accelerate and feature music from
band’s expansive repertoire. The channel will premiere on Monday, March
31 at 7 am ET.

Radio R.E.M., hosted exclusively by band members Michael Stipe,
Peter Buck and Mike Mills, will include insights from the band on the
inspiration for each song on Accelerate, as well as conversations with
R.E.M. covering a variety of topics ranging from the state of the band
to their personal world views.

During the take over, listeners will hear songs from R.E.M.’s nearly
three-decade career as well as hand selected music from some of their favorite
artists.

Radio R.E.M. continues SIRIUS’ tradition of creating exclusive
limited run artist branded channels dedicated to iconic figures at the
top of their game. Recent limited run exclusive channels launched on
SIRIUS include Rolling Stones Radio, E Street Radio, JAY-Z Nation,
Duran Duran’s Red Carpet Radio and Garth Brooks Radio, among many
others.

To learn more about Radio R.E.M. please visit www.sirius.com or www.sirius.com/thespectrum.

Technorati Tags: radio R.E.M., Sirius Satellite Radio

Politan, a former Court TV Anchor takes on all issues in daily discussion and debate
On Indie Talk, listeners encouraged to speak up, speak out, and speak for themselves on new kind of political talk radio

SIRIUS Satellite Radio today announced that it will
launch an exclusive daily morning call-in show with Vinnie Politan on
its new Indie Talk channel.

Indie Talk is a new kind of political talk radio; an uncensored,
non-partisan forum for independent thought and opinion targeting the
blogger generation. The channel has no agenda: Indie Talk gives equal
voice to individuals from any affiliation or background.

Politan’s
show will launch March 24 and air live Monday - Friday from 6:00 - 9:00
am ET exclusively on Indie Talk channel 110. Every morning Politan will
take the country’s pulse as he takes calls from men and women of all
ages and backgrounds, shining a spotlight on their reactions to
breaking news, issues and buzz. Topics on the show will be caller and
headline-driven and span the worlds of politics, entertainment, and
beyond.

Indie Talk stays on pace with today’s frenzied news cycle by airing
“blogcast” news updates every 20 minutes — reporting the freshest
headlines and buzz as it unfolds on the blogs. Additionally, Indie Talk
features The Blog Bunker, a cutting-edge roundtable featuring a
selection of the over 100 million bloggers around the globe.