SiriusXM expects to add 1.4 million subscribers in 2013

Reuters News
Posted: Jan 09, 2013 11:22 AM
SiriusXM expects to add 1.4 million subscribers in 2013

(Reuters) - Sirius XM Radio, the largest U.S. satellite radio provider, said it expects to increase the number of subscribers by about 6 percent in 2013 and raise its revenue by about 12 percent compared to its estimate for 2012.

Analysts expect the company, which is being taken over by Liberty Media Corp, to report $3.82 billion in revenue for 2013, according to Thomson Reuters I/B/E/S.

The satellite radio operator said its 2012 results are likely to meet or exceed its earlier outlook. In October, it had forecast $3.3 billion in revenue for 2012 and about $700 million of free cash flow.

Sirius said it added 2 million subscribers in 2012, taking the total to 23.9 million. It had forecast a net subscriber addition of 1.8 million for the year.

For 2013, Sirius will likely add a net 1.4 million subscribers, it said on Wednesday.

Sirius is being acquired by its largest shareholder Liberty Media Corp.

Liberty Media said last week it had received approval from the U.S. Federal Communications Commission for the take over, and expected to complete the transfer within 60 days.

Sirius shares were trading at $3.13 in afternoon trade on the Nasdaq on Wednesday.

(Reporting by Neha Alawadhi in Bangalore; Editing by Sreejiraj Eluvangal)