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XM Satellite's Loss Widens But Subscriptions Rise

XM Satellite Radio Holdings Inc. on Thursday posted a wider third-quarter loss on escalating programming costs, but subscriptions to its pay-radio service doubled to more than 5 million and it expects solid fourth-quarter growth. Both companies are growing rapidly but losing money as they spend freely on both technical innovation and entertainment, such as professional sports leagues and celebrity radio hosts, to help gain new customers. They aim to build a base of long-term users who will pay a monthly fee for years to come.

Read the whole story at Reuters, October 27, 2005 »

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