UPDATE 1-XM trims 2006 subscriber forecast, stock falls

Newswire

(adds details, background, stock activity) NEW YORK, May 24 (Reuters) - XM Satellite Radio Holdings Inc. on Wednesday trimmed its 2006 subscriber forecast, citing a slump in demand and the slow rollout of new products, and its shares fell more than 7 percent. XM, which along with rival Sirius Satellite Radio offers subscriptions to its nationwide service for a monthly fee, said it now expects to end the year with 8.5 million users. It had previously forecast 9 million. "Although XM has ...

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