Sirius XM: Will 2012 Be a Year to Remember?
After 12 months spent under a cloud of uncertainty, Sirius XM Radio (NASDAQ:SIRI) entered 2013 with a burst of confidence.
No longer is the satellite radio provider looking for a replacement for its outgoing chief executive Mel Karmazin and no longer is it waiting for the Federal Communications Commission to give Liberty Media (NASDAQ:LMCA) permission to gain a controlling interest. On January 4, the company finally received regulatory approval to assume broadcast licenses from Sirius XM.
The focus is now growth.
This past week, Sirius XM announced that despite its troubles last year, 2012 was a success. With 2 million net additions, the company increased its total number of subscribers to 23.9 million over the course of the 12-month period, a 9 percent improvement year-over-year. The total number of customers subscribing to the company’s satellite radio service also came in 3 percent higher than the original estimate Sirius gave at the beginning of the year…