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Until Recently Full of Promise,
Satellite Radio Runs Into Static -- paid subscription required
When iconic morning host Howard Stern moved from regular radio to satellite earlier this year, it was supposed to be a coming of age. Instead, the industry's two rivals, XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc., are still reporting heavy losses, despite a few years ago telling investors they would need four million customers each to break even. XM crossed that mark more than a year ago; Sirius hit it earlier this year. Last year, XM lost $667 million, and Sirius lost $863 million. And Sirius is facing a potential exodus of subscribers as a clutch of promotional one-year trials soon comes to an end.
Death by podcast.