XM, Sirius Report Losses
As they continue to wait for word from the FCC over whether their merger has been approved, XM and Sirius Satellite Radio both reported quarterly losses Monday, the New York Times reported.
Sirius reported that it lost $104.1 million last quarter, which represented an improvement over the $144.7 million loss at the same time last year. XM, meanwhile, lost $129 million in the last quarter, a bigger loss than the $122 million drop of the same period in 2007. The two companies have operated in the red for most of their histories.
The FCC has not yet indicated when it will announce a decision on the merger.