UPDATE 1-XM Satellite Radio gets new financing, stock jumps

Newswire

(Adds CEO quote, board members, share price, background) WASHINGTON, Dec 23 (Reuters) - XM Satellite Radio Inc. , a satellite radio broadcaster, on Monday said it reached financing agreements totaling $450 million that should provide the cash needed until its operations reach break-even. XM stock jumped more than 10 percent following the news. The Washington-based company said the package includes $200 million from a sale of notes convertible into common stock at $3.18 a share, and a ...

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