Sirius Cuts Subscriber Outlook Amid Weaker-Than-Expected Sales

Sirius Satellite Radio cut its subscriber forecast for the year in reaction to a softening in the satellite sales market.
A month ago, Sirius said it expected to end the year with 6.3 million subscribers. Now, the company projects ending the year with between 5.9 million to 6.1 million customers.
Company President/CEO Mel Karmazin stated, “While strong, this year’s retail sales results since the Thanksgiving weekend have not been at the pace we had anticipated.”
XM has reduced its subscriber projections for 2006 more than once. In November, it projected ending the year with between 7.7 million to 7.9 million subscribers.