SiriusXM Adds Satellite Radio Subs, Takes $976M Pandora Charge
Audio entertainment giant SiriusXM, the home of Howard Stern, said on Tuesday that it added 279,000 subscribers in its satellite radio unit during the fourth quarter and lost 63,000 in its Pandora business, an improvement over a year-ago loss of 88,000. As previously signaled, the firm also recorded a nearly $1 billion non-cash impairment charge for its Pandora music streaming service, due mainly to the impact of per-play royalty payment costs.