Sirius doubles revenues, posts narrower loss

Sirius Satellite, which has agreed to acquire its rival XM Satellite Radio, reported a narrower loss for the fourth quarter as revenues more than doubled, an Associated Press report said.

The Associated Press report said Sirius had a net loss of $245.6 million in the last three months of 2006 versus a loss of $311.4 million in the same period a year earlier.

Revenues more than doubled to $193.4 million from $80 million a year earlier, the report said.

The report said Sirius, which is based in New York, ended the year with just over 6 million subscribers, 82% higher than the 3.3 million it had a year earlier.

Sirius has agreed to buy its Washington, DC-based rival XM in a combination that would create one large provider of satellite radio services, but the deal, which the companies announced last week, will face tough regulatory scrutiny in Washington, the report said.