Sirius to Launch New Satellite

Sirius said Thursday it will spend $260 million to launch a new satellite to improve reception and enhance coverage. Built by Loral Space & Communications, the satellite is expected to be completed by 2008. Once launched, it would be Sirius' fourth in orbit. The cost of the move would not impact the satellite radio provider's overall financial outlook, which included the anticipated cost.

The company reiterated that it expected to have positive cash flow as early as the fourth quarter of this year, and would be cash flow positive for the full-year 2007. For the quarter ending March 30, Sirius posted a $458.5 million loss, compared with $193.6 million a year ago.