Today XM Satellite Radio filed an SEC Form 8K after hours. The form outlined the voting results for the board of directors, and also outlined some detail on the service outage.
The results of the Board of Directors voting carried no surprises.
The service outage note offered a bit of detail on the outage, and corrective measures taken. The note is as follows:
On Monday, May 21, 2007, our XM-3 satellite suffered a temporary service outage during the process of uploading operational information to the redundant satellite control processor (SCP) following a Sunday night autonomous switch from the primary to the redundant SCP. Some XM customers experienced service disruptions or degraded service until full signal strength was restored the following morning, May 22, 2007, from both XM-3 and our repeater network (which repeats the signal from the XM-3 satellite only). Our XM-4 satellite continued to perform at full power throughout this period. The XM-3 satellite and the repeater network are currently stable and providing full service. We will continue to assess issues associated with the service interruption, including the autonomous SCP switch, the status and restart of the primary SCP, and procedures for providing alternate inputs to the repeater network (including either XM-4 or XM-1/2).
The good news in this is that XM seems to be implementing corrective measures so as to avoid another outage event, and that the satellite and repeaters are operating as expected.
Position - Long XM