Serious Financial Trouble?
Sirius Satellite Radio reported a wider loss in the fourth quarter yesterday as costs for building its rapidly growing base of subscribers mounted.
The company, which added Howard Stern to its roster last month, lost $311.4 million, compared with a loss of $261.9 million in the same period a year earlier.
The article doesn't indicate that the losses are hurting the company, but those kind of numbers can't bode well. I know many technological commentators think satellite radio will die quickly, as new technology comes on board. If they're right, Sirius better start stockpiling cash so it can weather the transition. Problem is, Stern has it all.
