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Satellite Revenues Jump by Double Digits in Q4, Karmazin Says

Sirius XM Radio’s fourth quarter revenues are growing in the double digits; there should be no problem refinancing the debt due in 2009, chief Mel Karmazin told Reuters.

The company should manage to improve revenues next year, despite the recession, Karmazin said at the Reuters Media Summit today (Wednesday).

Black Friday sales were in line with what was expected, “which is not great news because we didn’t have high expectations,” Karmazin said.

Sirius Satellite Radio concluded its merger with XM Satellite Radio in July, after a protracted FCC approval process. Some analysts are predicting the company will have a difficult time paying off its $1 billion debt, which comes due in 2009.  The situation is made worse by the fact that auto sales are in freefall; the company pulls most of its new subscribers from sales of autos with factory installed satellite radios.