SiriusXM adds nearly 375,000 subscribers in first quarter

Sirius XM is going to the top.
The net subscriber growth of 373,064 puts the New York-based satellite radio operator over 20.5 million subscribers (20,564,028) for the first time. That figure is up 9% from the 18.9 million. CEO Mel Karmazin says "we operate in a highly competitive audio environment, yet consumers continue to choose SiriusXM." 
Sirius and XM satellite radio formally merged in 2008 and, three years later, a remapping of their channel lineup has made the two networks finally appear as one.
 Net income nearly doubled, from $42 million last year to $78 million for the quarter that ended March 31. That's equal to 1 cent per share. CFO David Frear says "we ended the first quarter with $434 million of cash and cash equivalents" after using $135 million to buy back debt.
 SiriusXM is achieving $3 billion in total revenue this year  and should generate a better-than-expected $350 million or in free cash flow.