Liberty Media Reports Record Q1 SiriusXM Revenues
May 8, 2013 at 10:49 AM (PT)
LIBERTY MEDIA has announced a positive Q1 report for SIRIUSXM. Subscribers to the satcaster grew by 453,000 to a record 24.4 million. Revenue rose 12% to a record $897 million, while Net income increased 15% to $124 million. Adjusted EBITDA grew 26% to $262 million.
"We are extremely pleased with the operating results of our newest subsidiary, SIRIUSXM, which grew its subscriber base to over 24 million," LIBERTY MEDIA Pres./CEO GREG MAFFEI said. "After an extensive search, JIM MEYER was named CEO of SIRIUSXM. JIM has been an integral part of SIRIUSXM’s success and we are excited for him to lead the company going forward. Last week we closed our investment in CHARTER COMMUNICATIONS and secured $1.4 billion of financing. We look forward to working with TOM RUTLEDGE, his team, and our fellow board members."