Recently in SIRI Category

Seems like Gary Parsons had more in mind when he said "now is the right time" to resign from Sirius XM Radio Inc.

According to the company, Sirius XM received a letter from Nasdaq stating that it now complies with the independent director and audit committee requirements of the Nasdaq rules. The reason? Because Parsons stepped down.

Gary Parsons has stepped down as the Chairman of Sirius XM Radio Inc. Board of Directors, the company said late Thursday. In his place, the company has appointed Eddy W. Hartenstein (an independent director) as the non-executive Chairman.

Parsons said in a written statement, "While it has been a privilege to serve Sirius XM as Chairman and to have guided the company successfully through the merger of Sirius and XM, I believe now is the right time to step aside."

Sirius XM Radio Inc. released their financial and operating results today showing that 3Q09 total revenue grew 3 percent from the third quarter last year, while total subscribers decreased by 2 percent year over year.

Last year's quarter was the first that both Sirius Satellite Radio and XM Satellite Radio posted results as a combined company.

Sirius XM Radio Inc. received notice from the Nasdaq Stock Market two days ago that its common stock is not in compliance with a Nasdaq Marketplace Rule. Why? Because SIRI had not closed above $1.00 per share for 30 consecutive business days.

Sirius XM Radio Inc. today said it intends to offer $250 million in Senior Secured Notes due 2015 to qualified institutional buyers. The company said it will use the net proceeds to repay certain indebtedness incurred under its Credit Agreement with Liberty Media Corporation.

This is a guest post from satellite radio fan Levi Ramsey. Do you like this article and want to see more from Levi? Sound off in the comments.

The headline numbers from Sirius XM's earnings release earlier today were covered by Ryan in his post. There are a few figures that aren't directly stated in the earnings release that shed light on how the business (and by extension, the service as a whole) is doing.

When performing that analysis, it is clear that the decline in subs is almost solely attributable to the decline in auto sales over the past year.

Total revenue for Sirius XM Radio Inc. grew by 1 percent year-over-year, while total subscribers continued to decline - also by 1 percent - for the second quarter of 2009, the company announced today.

Pro forma total revenue for the second quarter of 2009 grew to $608 million, up from $601 million in the second quarter of last year. At the same time, subscription revenue reached $577 million, up 3 percent from the same period last year of subscription revenue of $558 million. Total cash operating expenses since the Sirius and XM merger one year ago decreased by 28 percent year over year.

Sirius XM ended the quarter with exactly 18,413,435 total subscribers, a decrease of 1 percent from last year and a decrease of 185,999 subscribers from the 1Q09.

Sirius XM Radio Inc. made a Top 10 list recently, alongside big names like YouTube, Palm and Microsoft. Unfortunately, it's not a list that I think CEO Mel Karmazin wants to see gracing the webpages of TIME: The Top 10 Biggest Tech Failures of the Last Decade.

Youch.

Sirius XM Radio Inc. chief Mel Karmazin has voluntarily forfeited a total of 30 million SIRI stock options, the company said on Wednesday.

The company said that decision to forfeit these options will allow it to "more efficiently" use the shares to "attract, motivate and retain key employees" as planned under its 2003 long-term incentive plan.

Sirius XM Radio Inc. said today that they will release their first quarter 2009 financial and operating results on Thursday, May 7th.

The investor conference call will be held bright and early, just the way Mel likes it, at 8am ET the same day to discuss the results. You can listen online, or on the satellite radio service by tuning to Sirius channel 126 or XM channel 90.