Tech Shout!

On Thursday, Sirius Satellite Radio Inc. announced that it plans to put in $260 million to introduce its latest satellite to enhance the quality of reception and coverage. Built by Loral Space & Communications, the satellite is expected to complete by 2008. Once launched, it would be Sirius’ fourth in orbit. The cost of the move would not have any adverse effect on the satellite radio provider’s overall financial outlook, which included the anticipated cost.

The satellite would support the company’s three other satellites and help improve customers reception of the service.

Loral has agreed to provide a $100 million vendor financing facility. Sirius said it has no current plans to draw on the facility.

Sirius repeated that it expected to have positive cash flow as early as the fourth quarter of this year, and would be cash flow positive for the full-year 2007. For the quarter ending March 30, Sirius posted a $458.5 million loss, compared with $193.6 million a year ago. The satellite will be launched via an agreement with International Launch Services.