XM Satellite Radio has scheduled their third quarter 2006 financial results conference call for on Monday, November 6, 2006, at 10:00 AM ET.

To listen to the conference call, call 877-265-5808 (National) or 706-679-7931 (Local).

XM's Q3 2006 Earning Call will also be available via a webcast which you will be able to access here. 

XM Satellite Radio has named Vernon Irvin has named their Chief Marketing Officer to oversee XM's strategic marketing efforts.

Irvin will report to Nate Davis, XM's President and COO, with the responsibility for a number of operating groups, including media and brand marketing; retail, direct and partnership marketing; and, marketing operations, which includes service offerings, pricing, retention and market research.

With more than 20 years of experience, Irvin joins XM from VeriSign, where he has served since 2003 as Executive Vice President and General Manager for the company's communications services group. While at VeriSign, he oversaw a number of areas, including sales, marketing, product management, strategic development, and network operations. He also oversaw initiatives such as the launch of Jamster, VeriSign's consumer ringtone business, which at its peak counted millions of mobile and online music consumers. During his tenure, revenue for the communications services group doubled to $850 million in two years.

"Vernon is a dynamic leader who brings to XM a winning track record of building great brands and growing businesses," said Davis. "His impressive operating experience combined with his strong creative instincts and relationships in the entertainment industry will make Vernon a driving force as we extend XM's industry leadership." 

Gary Parsons - Chairman of the board at XM Satellite Radio - has resigned as a director of WorldSpace, it was revealed today in a SEC filing.

In a letter dated October 18, 2006, Mr. Parsons indicated that he was reducing his outside areas of responsibility, in order to focus more of his attention on his primary responsibilities as Chairman of XM Satellite Radio.

Gary Parsons was elected as a director of WorldSpace on July 18, 2005.

NPD Group's September sales data have showed a consecutive decline in the satellite radio retail channel, when compaired to the same period last year. In August unit sales were down 3% year-over-year, but in September they dropped 12% industry-wide YoY.

The Quick Glance:

• Sirius September 2006 Retail Sales:
  Down 9% YoY
• XM September 2006 Retail Sales:
  Down 15% YoY

Marketshare (via SSG):

• Sirius Sept '06 Retail Marketshare: 57%
• XM Sept '06 Retail Marketshare: 43%
  

In a recent report, Bank of America Analyst Jonathan Jacoby stated that demand from retailers appears "softer" year over year in the start of the fourth quarter, with "more demand for ipods."

This seems to support the theory that the satellite radio retail channel has reached it's peak, but in my opinion it seems unfair to compare YoY growth considering the anomoly the Stern Effect created.

XM Satellite Radio has added more than 285,000 new net subscribers during the third quarter of 2006 for a total of more than 7.185 million subscribers. This is down from the ~325,000 net additions that analysts estimated. XM will update its guidance (currently between 7.7 million and 8.2 million) during their upcoming quarterly conference call.

One thing to note, for the third quarter of 2006, XM no longer includes certain rental car fleets in their subscription total (about 20,000 subscriptions).

George W. Haywood has resigned as a member of XM's Board of Directors, effective October 3rd.

"It is with deep regret that, for personal reasons, I have decided to step down from XM's Board of Directors," said Haywood. "I take pride in the growth and accomplishments of the company and I continue to fully support the current direction of the company and the company's management."

With Haywood's resignation, the NASDAQ Stock Market has notified XM Satellite Radio that its Board composition is not in compliance with NASDAQ Rule 4350(c)(1), which requires that a majority of the board of directors of the Company be comprised of independent directors as defined by NASDAQ Rule 4200(a)(15).

XM expects to have a Board composed of a majority of independent directors no later than its next annual meeting, as contemplated by applicable NASDAQ rules.

[View SEC Filing]