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XM Gains 285K New Subs In Q3

10/04/2006 01:23:00 PM Eastern

Washington — XM Satellite Radio reported third quarter subscriber numbers which include a net addition of 285,000.

XM said it now has 7.185 million subscribers and added that its quarterly results are consistent with the company’s latest guidelines which target a total of 7.7 million to 8.2 million subscribers by the end of the year, XM said. Its subscriber churn rate is under 2 percent. The satellite radio company plans to update its guidance during an upcoming conference call, it said.

XM said it no longer includes certain rental car fleets (approximately 20,000 subscriptions) in its subscription total, as of the third quarter. The change is a result of a new marketing program designed to increase the number of rental cars with XM to help expose more people to the service.

In other news, Sirius claimed an additional 441,101 subscribers in the third quarter giving it a total of 5.11 million subscribers.