Radio & Television

Sat rad losses in 2005: US$1.5 billion

WASHINGTON and NEW YORK – Big, long-term investments are not for the faint of heart. XM Radio and SIRIUS Satellite Radio both reported their year-end results for 2005 this week. The final tally for losses? US$1.53 billion, $863 million for Sirius and $666.7 million for XM (all funds in U.S. dollars). Does this mean the two firms are spiraling out of control spendthrifts? Probably not, although one XM board member, Pierce Roberts, quit this week amid his escalating concerns over the company’s rapid growth plans, said several U.S. reports. As long as the two companies keep growing (and their Canadian...