News Articles From Days Gone ByXM's financial losses appear to be growing according to its latest financial statement.
(9 May 2002)
They reported a loss of $126 million compared with a loss of only $112 million a year ago. They added about 136,000 customers during the first quarter, however, bringing their revenue to $13 million and their subscriber list to almost half of their year end goal of 1.2 million.
The former XM director of comedy once described by the service as a "comedy club legend and resident lunatic" has been indicted on child sex abuse and other charges.
(9 May 2002)
Prosecutors said that charges against Mark Parenteau included first- and second-degree child sexual abuse, prostitution, distribution of alcohol and marijuana to minors and conspiracy. Parenteau, 53, and Thomas Grady, 44, allegedly used a 16-year-old to recruit 14 to 16-year old boys for sex, according to the indictment.