XM Radio reports narrower losses in Q4

US company XM Satellite Radio, which last week announced plans to combine with rival Sirius, posted a 45% jump in revenue and a tighter leash on marketing costs helped narrow its fourth-quarter loss, an Associated Press report said.

The Associated Press report said the Washington-based company, which has never reported a profit, said it lost $263.1 million, after paying preferred dividends in the final three months of 2006.
That beat a loss of $270.4 million a year ago.

The fourth-quarter loss includes a one-time charge of $57.6 million to reflect the declining value of XM's 23% stake in Canadian Satellite Radio, the report said. 

Quarterly revenue increased to $257 million from $177 million a year ago, the report added.

A week ago, XM Satellite and New York-based Sirius Satellite Radio announced a deal to combine their operations, the report further said.