Sirius to Get Fourth Satellite; Cost Is More Than a Quarter Billion

Sirius to Get Fourth Satellite; Cost Is More Than a Quarter Billion
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Sirius has contracted with Space Systems/Loral to design and build a fourth satellite at a cost of around $260 million to augment its three current birds.
The companies expect the satellite to be completed by the fourth quarter of 2008.
Space Systems/Loral built the satcaster's three other satellites and says having four in a highly elliptical geosynchronous orbit will provide enhanced signal coverage and greater redundancy.
As part of the deal, Loral has agreed to supply a $100 million vendor financing facility, although Sirius said it has no plans to draw from the funds.
Sirius also reiterated it believes it could reach its first quarter of positive free cash flow by the end of this year.

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