The spin machine over at Sirius Satellite Radio is working overtime today as the company released another set of disappointing financial results. The company posted a net loss of $134.1 million, but in their official statement the news is phrased, “Sirius’ net loss improved by 44 percent to ($134.1) million…”
The improvement they’re referring to is from the same period last year, when the company posted a $237.8 million net loss. Despite the scary numbers, Sirius CEO Mel Karmazin remained upbeat about the still-in-limbo XM/Sirius merger saying, "Momentum for the pending merger with XM continues to build… We continue to work with the FCC and the DOJ to make the case that the merger offers more choices, including a la carte offerings, and lower prices for subscribers, and we continue to expect that the merger will be completed by year-end."
