Sirius XM adds 257,000 subscribers in Q4

Satellite radio provider Sirius XM said on Tuesday it added more than 257,000 net subscribers during the fourth quarter, the most since the third quarter of 2008, as it benefited from improvements in car sales. The company also said it will report more than $100m in free cash flow for the full year, after reporting negative free cash flow of $552m in 2008. Shares climbed 5 per cent in after hours trading. Sirius, which is home to radio personalities like Howard Stern and Martha Stewart, ended 2009 with 18.8 million radio subscribers. It said the conversion rate to a self-pay subscription from a trial included in the sale of a vehicle was 46.4 per cent up from 44.2 per cent in the fourth quarter of 2008. The company also reiterated its guidance and said it would report over $400m in pro forma adjusted operating income, an improvement of over $500m from the pro forma adjusted operating income for 2008. Sirius XM plans to release full-year 2009 financial results next month. Liberty Media provided financing for Sirius last year.