Sirius Satellite loss narrows

Sirius Satellite Radio Inc. reported a narrower loss, even as it remained unclear when regulators might take action on its plans to combine with rival XM Satellite Radio Holdings Inc.

Sirius and XM had hoped to close their deal by the end of last year, but it’s still being reviewed by the Justice Department and the Federal Communications Commission.

Sirius Chief Executive Mel Karmazin said the firm was prepared to go forward on its own in the event its combination with XM wasn’t approved, saying the company is “fully funded” to continue business.

Sirius reported that its loss for the fourth quarter narrowed to $166.2 million, or 11 cents a share, compared with a loss of $245.6 million, or 17 cents, a year earlier.

Analysts surveyed by Thomson Financial were expecting a loss of 13 cents a share.

Shares of New York-based Sirius rose 1 cent to $3.05.