SEC probes XM Satellite subscribers estimates
The way satellite radio companies count subscribers has been a topic of discussion for some time, so it’s not entirely surprising that that the SEC is looking into Satellite XM’s numbers:
XM Satellite Radio Holdings Inc. (XMSR) disclosed in a regulatory filing Tuesday that the Securities and Exchange Commission is looking into the company’s handling of its estimates of subscriber counts as well as the cost of recruiting customers.
The Washington-based company said it received a letter from the SEC on Aug. 31 asking for documents regarding its subscriber targets and related matters for the third and fourth quarters of last year.