"XM Satellite Radio Holdings Inc. reported a wider first-quarter loss Thursday and disclosed that federal regulators were probing its marketing practices. Its shares fell 8 percent in premarket trading.
XM, the larger of the nation's two satellite radio providers, lost $151.4 million, or 60 cents per share, in the three months ended March 31 versus a loss of $122.1 million, or 58 cents per share, in the comparable period a year ago.
XM also disclosed in a regulatory filing that the Federal Communications Commission found that one of its products, the Delphi XM SKYFi2, wasn't in compliance with transmitter emission standards.
It also said the Federal Trade Commission was investigating whether its marketing practices were in line with rules governing telemarketing, the Truth in Lending Act and other statutes. XM said it was cooperating fully with both inquiries."
Thursday, April 27, 2006
They'd better get sirius. (sorry)
Posted by miken at 10:46 AM