Sirius Posts Smaller Loss
As it continues to wait for a government decision on its merger with rival XM, Sirius Satellite Radio on Monday posted a smaller loss than usual, according to the Associated Press.
Sirius reported that it lost $166.2 million in the fourth quarter, a narrower loss than the previous year’s figure of $245.6 million for the same period. The number beat analysts’ expectations.
Sirius is still waiting to hear from both the Department of Justice and FCC on the fate of its merger with XM, which was agreed to more than a year ago.