Sirius XM Won't Raise Prices
May 17, 2011 at 5:34 AM (PT)
As part of a settlement with subscriber CARL BLESSING, SIRIUS XM will hold the line on subscription rates. THE WALL STREET JOURNAL report, "the company said in an SEC filing that through DECEMBER 31st, it won’t raise the price of its basic satellite radio service, other programming packages or its Internet streaming services. SIRIUS XM also said existing subscribers will be able to renew their subscription plans at current rates."
BLESSING sued SIRIUS XM in 2009, over what he claimed was a "deceptive effort to raise subscriber prices."
In its SEC filing, SIRIUS XM noted it wouldn’t "object to requests to reimburse the lawsuit plaintiff for $13 million in legal fees and expenses."
In a statement, SIRIUS XM said it settled the lawsuit, "despite our belief that the claims asserted by the plaintiffs were untrue."